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Economy of Oman vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Oman has a GDP of $107B compared to $99B for Sri Lanka, ranking 70/197 and 72/197 by economy size, respectively.

Oman has $38B in government debt (35.5% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Oman vs Sri Lanka GDP by year

Oman
Sri Lanka
1x
Year GDP, current $
Oman Sri Lanka
2024 $107,137,198,769 $98,963,185,510
2023 $106,174,708,037 $83,716,142,582
2022 $109,852,795,839 $74,143,020,263
2021 $87,323,797,139 $88,556,698,938
2020 $75,909,492,848 $84,335,574,582
2019 $88,060,858,257 $88,998,706,297
2018 $91,505,851,756 $94,450,015,983
2017 $80,856,697,009 $94,369,350,286
2016 $75,128,738,622 $88,000,211,172
2015 $78,710,793,238 $85,090,301,052
2014 $92,699,089,727 $82,531,125,191
2013 $89,936,020,806 $76,976,203,829
2012 $87,408,842,653 $70,447,217,164
2011 $77,497,529,259 $67,753,285,897
2010 $64,993,498,049 $58,636,049,434
2009 $55,454,096,229 $42,066,224,093
2008 $69,804,681,404 $40,713,826,215
2007 $48,300,390,117 $32,350,238,760
2006 $42,577,633,290 $28,267,410,543
2005 $35,506,892,068 $24,405,791,045
2004 $28,378,933,680 $20,662,525,941
2003 $24,733,680,104 $18,881,765,437
2002 $23,065,539,662 $16,536,535,647
2001 $22,205,721,717 $15,749,753,805
2000 $22,259,557,867 $16,595,882,819
1999 $17,832,769,831 $15,711,933,513
1998 $16,044,213,264 $15,760,736,956
1997 $18,039,791,938 $15,091,913,884
1996 $17,402,080,624 $13,897,738,375
1995 $15,722,236,671 $13,029,697,561
1994 $14,715,214,564 $11,717,604,209
1993 $14,230,429,129 $10,338,679,636
1992 $14,183,615,085 $9,703,011,636
1991 $12,918,335,501 $9,000,362,582
1990 $13,310,273,082 $8,032,551,173
1989 $9,372,171,651 $6,987,267,684
1988 $8,386,215,865 $6,978,371,581
1987 $7,811,183,095 $6,682,167,120
1986 $7,324,167,369 $6,405,210,564
1985 $10,005,645,420 $5,978,460,972
1984 $8,821,443,151 $6,043,474,843
1983 $7,932,541,691 $5,167,913,302
1982 $7,554,719,456 $4,768,765,017
1981 $7,259,120,151 $4,415,844,156
1980 $5,981,760,278 $4,024,621,900
1979 $3,733,352,635 $3,364,611,432
1978 $2,740,301,390 $2,733,183,857
1977 $2,741,169,948 $4,104,509,583
1976 $2,560,220,035 $3,591,319,857
1975 $2,096,699,189 $3,791,298,146
1974 $1,645,917,776 $3,574,586,466
1973 $483,066,991 $2,875,625,000
1972 $366,883,548 $2,553,936,348
1971 $301,010,587 $2,369,308,600
1970 $256,319,795 $2,296,470,588
1969 $239,999,808 $1,965,546,218
1968 $188,879,849 $1,801,344,538
1967 $107,151,832 $1,859,465,021
1966 $67,759,973 $1,751,470,588
1965 $63,279,975 $1,698,319,328
1964 $61,872,526 $1,309,747,899
1963 $59,912,763 $1,240,672,269
1962 $56,273,202 $1,434,156,379
1961 $45,634,487 $1,444,327,731
1960 $44,234,656 $1,409,873,950

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/oman/sri-lanka | CC BY

GDP per capita in Oman vs Sri Lanka by year

Oman
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $20,285 $41,740 $4,516 $15,633
2023 $21,028 $41,945 $3,799 $14,456
2022 $23,224 $42,616 $3,343 $14,194
2021 $19,403 $38,719 $3,997 $14,316
2020 $16,785 $35,163 $3,848 $12,941
2019 $19,180 $37,251 $4,082 $14,113
2018 $19,902 $37,780 $4,359 $14,178
2017 $17,820 $33,619 $4,399 $13,610
2016 $17,110 $33,334 $4,149 $13,079
2015 $18,808 $36,058 $4,058 $12,227
2014 $23,161 $44,236 $3,972 $11,721
2013 $23,458 $47,013 $3,739 $11,253
2012 $24,642 $49,989 $3,328 $10,249
2011 $25,188 $52,393 $3,225 $9,076
2010 $23,570 $55,667 $2,808 $8,234
2009 $20,656 $55,127 $2,027 $7,576
2008 $26,577 $52,841 $1,974 $7,317
2007 $18,793 $48,627 $1,579 $6,820
2006 $16,931 $46,091 $1,389 $6,261
2005 $14,435 $43,673 $1,207 $5,679
2004 $11,801 $42,142 $1,029 $5,216
2003 $10,464 $40,935 $946 $4,850
2002 $9,869 $41,511 $835 $4,522
2001 $9,612 $41,679 $804 $4,328
2000 $9,754 $39,443 $860 $4,368
1999 $7,915 $36,792 $829 $4,103
1998 $7,219 $36,666 $848 $3,952
1997 $8,235 $36,809 $827 $3,804
1996 $8,068 $34,661 $776 $3,582
1995 $7,414 $33,598 $742 $3,454
1994 $7,068 $31,925 $678 $3,260
1993 $7,039 $30,987 $607 $3,067
1992 $7,318 $29,773 $580 $2,851
1991 $6,977 $28,109 $546 $2,713
1990 $7,546 $26,904 $491 $2,527
1989 $5,591 - $430 -
1988 $5,279 - $434 -
1987 $5,204 - $420 -
1986 $5,182 - $407 -
1985 $7,549 - $385 -
1984 $7,070 - $391 -
1983 $6,714 - $336 -
1982 $6,759 - $312 -
1981 $6,866 - $292.5 -
1980 $5,974 - $271.1 -
1979 $3,934 - $230.8 -
1978 $3,044 - $191 -
1977 $3,205 - $292.1 -
1976 $3,143 - $260.3 -
1975 $2,692 - $279.8 -
1974 $2,203 - $268.7 -
1973 $670 - $220.2 -
1972 $524 - $199.4 -
1971 $442 - $188.8 -
1970 $387 - $186.9 -
1969 $372 - $163.6 -
1968 $300 - $153.5 -
1967 $174.7 - $162.3 -
1966 $113.2 - $156.6 -
1965 $108.1 - $155.6 -
1964 $108.1 - $122.9 -
1963 $106.8 - $119.4 -
1962 $102.3 - $141.4 -
1961 $84.5 - $145.9 -
1960 $83.4 - $145.9 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/oman/sri-lanka | CC BY

Oman's GDP per capita is $20,285, ranking 57/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Oman Sri Lanka
Gross domestic product
$107B
2024
$99B
2024
GDP rank
70/197
2024
72/197
2024
GDP growth
1.63%
2023-2024
5.01%
2023-2024
GDP per capita
$20,285
2024
$4,516
2024
GDP per capita rank
57/197
2024
124/197
2024
GDP per capita, PPP
$41,740
2024
$15,633
2024
GDP per capita PPP rank
55/197
2024
111/197
2024
Government debt
$38B
2024
$99.8B
2024
Debt-to-GDP ratio
35.5%
2024
100.8%
2024
Government debt per person
$7,204
2024
$4,554
2024
Government debt per person rank
67/185
2024
85/185
2024
Average annual personal income after taxes
$20,894
2026
$2,874
2026
Market capitalization of domestic companies
$22.3B
2022
$19.5B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10% n/a
30.8%
2019
Income share by poorest 10% n/a
3.1%
2019
Government expenditure, % of GDP
28.7%
2024
19.3%
2024
Consumer prices inflation
0.6%
2023-2024
-0.43%
2023-2024
Central bank interest rate
4.5%
2025
7.75%
2025
Unemployment rate
3.3%
2024
4.67%
2023
Population
5761708
22185425

Spending and national debt comparison by year

Oman
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Oman Sri Lanka
Government spending Government debt Government spending Government debt
2024 28.7% 35.5% 19.3% 100.8%
2023 27.5% 37.5% 19.5% 110.4%
2022 30.9% 41.7% 18.6% 115.9%
2021 36.5% 61.9% 20% 102.7%
2020 44.5% 67.9% 22.1% 96.9%
2019 38.8% 52.5% 19.5% 82.6%
2018 38.3% 44.7% 17.5% 83.6%
2017 39.4% 40.1% 17.9% 72.3%
2016 44.6% 29.3% 18.2% 75%
2015 44.5% 13.9% 19.3% 76.3%
2014 41.4% 4.04% 17.2% 69.6%
2013 39.3% 4.66% 16.6% 69.5%
2012 38.6% 4.59% 17.3% 67.5%
2011 34.5% 4.44% 19.1% 69.4%
2010 30.6% 5.46% 19.3% 68.7%
2009 33.4% 5.8% 21% 72.8%
2008 25.6% 3.2% 19.1% 68.8%
2007 30.7% 4.44% 19.9% 71.8%
2006 30.1% 7.56% 20.5% 74.3%
2005 30.6% 8.39% 20.1% 76.6%
2004 34.1% 14.5% 19.3% 86.5%
2003 34% 13% 19.3% 86.5%
2002 34.1% 15.9% 20.8% 96.3%
2001 33.3% 22.5% 22.4% 84.4%
2000 31.2% 21.7% 21.7% 79.2%
1999 34.2% 28.9% 20.5% 77.7%
1998 36.1% 30.9% 21.4% 74.2%
1997 32.1% 20.8% 21.4% 70.1%
1996 33.5% 21.2% 23.1% 76.2%
1995 38.2% 21.9% 24.8% 77.8%
1994 39.7% 23.6% 24.1% 77.9%
1993 40.1% 22.2% 23.2% 79.2%
1992 40.1% 23.1% 23% 77.9%
1991 37.4% 22.6% 26.4% 80.5%
1990 36.5% 17.8% 25.4% 78.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/oman/sri-lanka | CC BY

In 2024, Oman's government spending was $30.7B, accounting for 28.7% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 35.5% in Oman and 100.8% in Sri Lanka, ranking 145/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Oman Sri Lanka
2024 3.31% -5.64%
2023 6.87% -8.32%
2022 10.5% -10.2%
2021 -3.17% -11.7%
2020 -15.7% -13.4%
2019 -4.83% -7.52%
2018 -6.72% -4.96%
2017 -10.5% -5.1%
2016 -19.6% -5%
2015 -13.5% -6.64%
2014 -1.58% -5.99%
2013 2.78% -5%
2012 4.07% -5.44%
2011 8.24% -6.01%
2010 4.95% -6.73%
2009 -0.27% -8.33%
2008 14.7% -5.93%
2007 10.5% -5.81%
2006 12.2% -5.91%
2005 11.2% -5.93%
2004 5.43% -6.32%
2003 5.92% -6.15%
2002 5.31% -6.9%
2001 7.55% -8.48%
2000 12.2% -7.78%
1999 0.3% -5.58%
1998 -4.37% -6.79%
1997 4.77% -5.71%
1996 2.22% -6.89%
1995 -3.9% -7.11%
1994 -7.47% -7.41%
1993 -6.84% -5.77%
1992 -4.85% -4.95%
1991 0.12% -7.97%
1990 4.78% -6.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/oman/sri-lanka | CC BY

In 2024, Oman's government surplus, the difference between spending and revenue, was $3.54B, equivalent to 3.31% of GDP. This compares to Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 35 years, Oman recorded a fiscal deficit in 14 of those years, while Sri Lanka ran a deficit in 35 years. On average, Oman posted an annual surplus equal to 0.99% of GDP, compared to deficit of 6.85% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Oman

Sri Lanka
1x
Year Consumer prices inflation
Oman Sri Lanka
2024 0.6% -0.43%
2023 1% 16.5%
2022 2.5% 49.7%
2021 1.7% 7.01%
2020 -0.4% 6.15%
2019 0.5% 3.53%
2018 0.7% 2.14%
2017 1.5% 7.7%
2016 0.9% 3.96%
2015 0.1% 3.77%
2014 1.2% 3.18%
2013 1.3% 6.91%
2012 2.9% 7.54%
2011 4.1% 6.72%
2010 3.3% 6.22%
2009 3.5% 3.46%
2008 12.6% 22.6%
2007 5.9% 15.8%
2006 3.2% 10%
2005 1.9% 11.6%
2004 0.8% 7.58%
2003 0.2% 6.31%
2002 -0.3% 9.55%
2001 -0.8% 14.2%
2000 -1.2% 6.18%
1999 0.5% 4.69%
1998 0.4% 9.36%
1997 -0.4% 9.57%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/oman/sri-lanka | CC BY

Over the past 28 years, Oman has recorded an average annual inflation rate of 1.72%, compared with 9.34% in Sri Lanka. In 2024, inflation was 0.6% in Oman and -0.43% in Sri Lanka.

Top exports between countries

Oman
Export category Export value
Metals $12.8M
Chemicals & pharma $5.52M
Machinery & equipment $4.68M
Raw materials & minerals $4.58M
Wood & paper products $941K
Animal & marine products $931K
Miscellaneous $681K
Processed food, beverages & tobacco $626K
Raw agricultural goods $338K
Textiles & consumer goods $70K
Sri Lanka
Export category Export value
Raw agricultural goods $3.52M
Processed food, beverages & tobacco $3.39M
Textiles & consumer goods $2.48M
Raw materials & minerals $2.22M
Wood & paper products $925K
Machinery & equipment $470K
Chemicals & pharma $283K
Animal & marine products $200K
Metals $18K
Precious metals & jewellery $11K

Balance of trade

Oman Sri Lanka
Current account balance
$3.07B
2024
$1.21B
2024
Current account balance ranking
39/190
2024
53/190
2024
Current account balance, % of GDP
+2.86%
2024
+1.22%
2024
Goods imports
$39.5B
2024
$18.8B
2024
Goods exports
$65.2B
2024
$12.8B
2024
Service imports
$12.8B
2024
$3.48B
2024
Service exports
$5.64B
2024
$6.91B
2024
Imports of goods and services, % of GDP
48.8%
2024
22.5%
2024
Exports of goods and services, % of GDP
66.1%
2024
19.9%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Oman Sri Lanka
Economic freedom 68.5 50.3
Economic freedom ranking 45/197 162/197
Property rights 71.8 47.3
Government integrity 49.4 37.3
Judicial effectiveness 28 47.2
Tax burden 97.6 77
Government spending 74.7 89
Fiscal health 97.5 0
Business freedom 67.8 60.1
Labor freedom 47.7 54.3
Monetary freedom 79.2 65.9
Trade freedom 78.4 65.6
Investment freedom 70 30
Financial freedom 60 30

Economic freedom comparison by year

Oman
Sri Lanka
1x
Year Economic freedom index
Oman Sri Lanka
2026 68.5 50.3
2025 65.4 49.4
2024 62.9 49.2
2023 58.5 52.2
2022 56.6 53.3
2021 64.6 55.7
2020 63.6 57.4
2019 61 56.4
2018 61 57.8
2017 62.1 57.4
2016 67.1 59.9
2015 66.7 58.6
2014 67.4 60
2013 68.1 60.7
2012 67.9 58.3
2011 69.8 57.1
2010 67.7 54.6
2009 67 56
2008 67.3 58.4
2007 65.8 59.4
2006 63.7 58.7
2005 66.5 61
2004 66.9 61.6
2003 64.6 62.5
2002 64 64
2001 67.7 66
2000 64.1 63.2
1999 64.9 64
1998 64.9 64.6
1997 64.5 65.5
1996 65.4 62.5
1995 70.2 60.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/oman/sri-lanka | CC BY

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Sri Lanka
Services, % of GDP
46%
2024
57.5%
2024
Industry, % of GDP
54.2%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.6%
2024
8.3%
2024
GNI, Atlas method
$103B
2024
$84.6B
2024
GNI per capita, PPP
$39,340
2024
$15,240
2024
Total reserves including gold
$18.3B
2024
$6.09B
2024
Total reserves ranking
64/177
2024
92/177
2024
Net foreign direct investment
-$12.6B
2024
-$651M
2024
Net inflows of foreign direct investment
$12.5B
2024
$761M
2024
Net outflows of foreign direct investment
-$143M
2024
$110M
2024
Servicing debt to the IMF, % of GNI n/a
4.98%
2024
Poverty at national poverty lines n/a
14.3%
2019
Gross capital formation, % of GDP
24.8%
2024
27%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/oman/sri-lanka | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.