Skip to content

Economy of Oman vs Taiwan compared: GDP & Debt

Updated on by Georank team

Oman has a GDP of $107B compared to $802B for Taiwan, ranking 70/197 and 22/197 by economy size, respectively.

Oman has $38B in government debt (35.5% of GDP), compared to $211B (26.3% of GDP) in Taiwan.

Oman vs Taiwan GDP by year

Oman
Taiwan
1x
Year GDP, current $
Oman Taiwan
2024 $107,137,198,769 $801,529,000,000
2023 $106,174,708,037 $757,328,000,000
2022 $109,852,795,839 $765,529,000,000
2021 $87,323,797,139 $777,062,000,000
2020 $75,909,492,848 $676,935,000,000
2019 $88,060,858,257 $613,453,000,000
2018 $91,505,851,756 $610,744,000,000
2017 $80,856,697,009 $591,734,000,000
2016 $75,128,738,622 $543,002,000,000
2015 $78,710,793,238 $534,474,000,000
2014 $92,699,089,727 $535,332,000,000
2013 $89,936,020,806 $512,957,000,000
2012 $87,408,842,653 $495,536,000,000
2011 $77,497,529,259 $483,957,000,000
2010 $64,993,498,049 $444,245,000,000
2009 $55,454,096,229 $390,788,000,000
2008 $69,804,681,404 $415,824,000,000
2007 $48,300,390,117 $406,940,000,000
2006 $42,577,633,290 $386,492,000,000
2005 $35,506,892,068 $374,042,000,000
2004 $28,378,933,680 $346,881,000,000
2003 $24,733,680,104 $317,374,000,000
2002 $23,065,539,662 $307,429,000,000
2001 $22,205,721,717 $299,303,000,000
2000 $22,259,557,867 $330,725,000,000
1999 $17,832,769,831 $303,827,000,000
1998 $16,044,213,264 $279,926,000,000
1997 $18,039,791,938 $303,315,000,000
1996 $17,402,080,624 $292,473,000,000
1995 $15,722,236,671 $279,013,000,000
1994 $14,715,214,564 $256,213,000,000
1993 $14,230,429,129 $234,943,000,000
1992 $14,183,615,085 $222,947,000,000
1991 $12,918,335,501 $187,100,000,000
1990 $13,310,273,082 $166,392,000,000
1989 $9,372,171,651 $152,687,000,000
1988 $8,386,215,865 $126,378,000,000
1987 $7,811,183,095 $104,956,000,000
1986 $7,324,167,369 $78,347,000,000
1985 $10,005,645,420 $63,599,000,000
1984 $8,821,443,151 $61,036,000,000
1983 $7,932,541,691 $54,155,000,000
1982 $7,554,719,456 $49,540,000,000
1981 $7,259,120,151 $49,047,000,000
1980 $5,981,760,278 $42,292,000,000
1979 $3,733,352,635 $33,875,000,000
1978 $2,740,301,390 $27,373,000,000
1977 $2,741,169,948 $22,252,000,000
1976 $2,560,220,035 $18,988,000,000
1975 $2,096,699,189 $15,836,000,000
1974 $1,645,917,776 $14,739,000,000
1973 $483,066,991 $10,940,000,000
1972 $366,883,548 $8,063,000,000
1971 $301,010,587 $6,727,000,000
1970 $256,319,795 $5,785,000,000
1969 $239,999,808 $5,017,000,000
1968 $188,879,849 $4,325,000,000
1967 $107,151,832 $3,709,000,000
1966 $67,759,973 $3,207,000,000
1965 $63,279,975 $2,869,000,000
1964 $61,872,526 $2,592,000,000
1963 $59,912,763 $2,218,000,000
1962 $56,273,202 $1,960,000,000
1961 $45,634,487 $1,778,000,000
1960 $44,234,656 $1,743,000,000
1959 - $1,444,000,000
1958 - $1,836,000,000
1957 - $1,636,000,000
1956 - $1,399,000,000
1955 - $1,940,000,000
1954 - $1,628,000,000
1953 - $1,481,000,000
1952 - $1,677,000,000
1951 - $1,197,000,000

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/oman/taiwan | CC BY

GDP per capita in Oman vs Taiwan by year

Oman
GDP per capita

GDP per capita, PPP
Taiwan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Taiwan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $20,285 $41,740 $34,238 -
2023 $21,028 $41,945 $32,444 -
2022 $23,224 $42,616 $32,827 -
2021 $19,403 $38,719 $33,111 -
2020 $16,785 $35,163 $28,705 -
2019 $19,180 $37,251 $25,998 -
2018 $19,902 $37,780 $25,901 -
2017 $17,820 $33,619 $25,121 $50,500
2016 $17,110 $33,334 $23,091 -
2015 $18,808 $36,058 $22,780 $46,800
2014 $23,161 $44,236 $22,874 -
2013 $23,458 $47,013 $21,973 $39,600
2012 $24,642 $49,989 $21,295 $39,400
2011 $25,188 $52,393 $20,866 $38,200
2010 $23,570 $55,667 $19,197 $35,700
2009 $20,656 $55,127 $16,933 $32,000
2008 $26,577 $52,841 $18,081 $31,100
2007 $18,793 $48,627 $17,757 $30,100
2006 $16,931 $46,091 $16,934 $29,500
2005 $14,435 $43,673 $16,456 $27,500
2004 $11,801 $42,142 $15,317 $25,300
2003 $10,464 $40,935 $14,066 $23,400
2002 $9,869 $41,511 $13,686 $18,000
2001 $9,612 $41,679 $13,397 $17,200
2000 $9,754 $39,443 $14,908 $17,400
1999 $7,915 $36,792 $13,804 $16,100
1998 $7,219 $36,666 $12,820 -
1997 $8,235 $36,809 $14,020 -
1996 $8,068 $34,661 $13,641 -
1995 $7,414 $33,598 $13,119 -
1994 $7,068 $31,925 $12,150 -
1993 $7,039 $30,987 $11,242 -
1992 $7,318 $29,773 $10,768 -
1991 $6,977 $28,109 $9,125 -
1990 $7,546 $26,904 $8,205 -
1989 $5,591 - $7,613 -
1988 $5,279 - $6,370 -
1987 $5,204 - $5,350 -
1986 $5,182 - $4,036 -
1985 $7,549 - $3,314 -
1984 $7,070 - $3,224 -
1983 $6,714 - $2,903 -
1982 $6,759 - $2,699 -
1981 $6,866 - $2,720 -
1980 $5,974 - $2,389 -
1979 $3,934 - $1,950 -
1978 $3,044 - $1,606 -
1977 $3,205 - $1,330 -
1976 $3,143 - $1,158 -
1975 $2,692 - $985 -
1974 $2,203 - $934 -
1973 $670 - $706 -
1972 $524 - $530 -
1971 $442 - $451 -
1970 $387 - $397 -
1969 $372 - $357 -
1968 $300 - $319 -
1967 $174.7 - $280.8 -
1966 $113.2 - $249.1 -
1965 $108.1 - $229.3 -
1964 $108.1 - $213.6 -
1963 $106.8 - $188.6 -
1962 $102.3 - $172 -
1961 $84.5 - $161.2 -
1960 $83.4 - $163.4 -
1959 - - $140.4 -
1958 - - $185.1 -
1957 - - $170.5 -
1956 - - $150.6 -
1955 - - $216.3 -
1954 - - $188.3 -
1953 - - $177.7 -
1952 - - $208.4 -
1951 - - $154.3 -

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2017, retrieved 2026-02-20).

GeoRank.org/economy/oman/taiwan | CC BY

Oman's GDP per capita is $20,285, ranking 57/197, compared to $34,238 in Taiwan, ranking 35/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Taiwan ranks 44th at $50,500.

Economic indicators

Oman Taiwan
Gross domestic product
$107B
2024
$802B
2024
GDP rank
70/197
2024
22/197
2024
GDP growth
1.63%
2023-2024
2.3%
2023-2024
GDP per capita
$20,285
2024
$34,238
2024
GDP per capita rank
57/197
2024
35/197
2024
GDP per capita, PPP
$41,740
2024
$50,500
2017
GDP per capita PPP rank
55/197
2024
44/197
2017
Government debt
$38B
2024
$211B
2024
Debt-to-GDP ratio
35.5%
2024
26.3%
2024
Government debt per person
$7,204
2024
$9,020
2024
Government debt per person rank
67/185
2024
59/185
2024
Average annual personal income after taxes
$20,894
2026
$18,163
2026
Market capitalization of domestic companies
$22.3B
2022
n/a
Number of millionaires n/a
759,000
2025
Number of billionaires
2
2025
54
2025
Government expenditure, % of GDP
28.7%
2024
15.8%
2024
Consumer prices inflation
0.6%
2023-2024
2.2%
2023-2024
Central bank interest rate
4.5%
2025
2%
2024
Unemployment rate
3.3%
2024
3.35%
2025
Population
5761708
23229461

Spending and national debt comparison by year

Oman
Spending

Debt
Taiwan
Spending

Debt
1x
Year % of GDP
Oman Taiwan
Government spending Government debt Government spending Government debt
2024 28.7% 35.5% 15.8% 26.3%
2023 27.5% 37.5% 17.1% 29%
2022 30.9% 41.7% 16% 29.5%
2021 36.5% 61.9% 15.4% 30.1%
2020 44.5% 67.9% 16.2% 32%
2019 38.8% 52.5% 15.3% 32.6%
2018 38.3% 44.7% 15.4% 33.8%
2017 39.4% 40.1% 15.4% 34.5%
2016 44.6% 29.3% 15.6% 35.4%
2015 44.5% 13.9% 15.5% 35.9%
2014 41.4% 4.04% - 37.5%
2013 39.3% 4.66% - 38.9%
2012 38.6% 4.59% - 39.2%
2011 34.5% 4.44% 18.3% 38.3%
2010 30.6% 5.46% - 36.9%
2009 33.4% 5.8% - 36.7%
2008 25.6% 3.2% - 33.4%
2007 30.7% 4.44% - 32.2%
2006 30.1% 7.56% - 33.3%
2005 30.6% 8.39% - 34.1%
2004 34.1% 14.5% - 33.4%
2003 34% 13% - 32.1%
2002 34.1% 15.9% - 29.8%
2001 33.3% 22.5% 22.5% 30.1%
2000 31.2% 21.7% - 26.2%
1999 34.2% 28.9% - 23.7%
1998 36.1% 30.9% - 23.7%
1997 32.1% 20.8% - 25%
1996 33.5% 21.2% - -
1995 38.2% 21.9% - -
1994 39.7% 23.6% - -
1993 40.1% 22.2% - -
1992 40.1% 23.1% - -
1991 37.4% 22.6% 25.4% -
1990 36.5% 17.8% - -
1989 - - - -
1988 - - - -
1987 - - - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 - - 23.6% -
1980 - - - -
1979 - - - -
1978 - - - -
1977 - - - -
1976 - - 21.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

GeoRank.org/economy/oman/taiwan | CC BY

In 2024, Oman's government spending was $30.7B, accounting for 28.7% of its GDP, while Taiwan spent $127B, or 15.8% of GDP.

Debt-to-GDP ratio is 35.5% in Oman and 26.3% in Taiwan, ranking 145/185 and 160/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Taiwan
1x
Year Deficit/surplus, % of GDP
Oman Taiwan
2024 3.31% 0.43%
2023 6.87% -0.61%
2022 10.5% 0.17%
2021 -3.17% -0.18%
2020 -15.7% -1.03%
2019 -4.83% 0.11%
2018 -6.72% 0.02%
2017 -10.5% -0.14%
2016 -19.6% -0.31%
2015 -13.5% 0.1%
2014 -1.58% -
2013 2.78% -
2012 4.07% -
2011 8.24% -2.15%
2010 4.95% -
2009 -0.27% -
2008 14.7% -
2007 10.5% -
2006 12.2% -
2005 11.2% -
2004 5.43% -
2003 5.92% -
2002 5.31% -
2001 7.55% -3.71%
2000 12.2% -
1999 0.3% -
1998 -4.37% -
1997 4.77% -
1996 2.22% -
1995 -3.9% -
1994 -7.47% -
1993 -6.84% -
1992 -4.85% -
1991 0.12% -4.5%
1990 4.78% -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -0.78%
1980 - -
1979 - -
1978 - -
1977 - -
1976 - 1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

GeoRank.org/economy/oman/taiwan | 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 Taiwan's surplus of $3.45B, or 0.43% of GDP.

Over the past 35 years, Oman recorded a fiscal deficit in 14 of those years, while Taiwan ran a deficit in 8 years. On average, Oman posted an annual surplus equal to 0.99% of GDP, compared to deficit of 0.91% of GDP for Taiwan.

Inflation comparison by year

Inflation
Oman

Taiwan
1x
Year Consumer prices inflation
Oman Taiwan
2024 0.6% 2.2%
2023 1% 2.5%
2022 2.5% 2.9%
2021 1.7% 2%
2020 -0.4% -0.2%
2019 0.5% 0.6%
2018 0.7% 1.4%
2017 1.5% 0.6%
2016 0.9% 1.4%
2015 0.1% -0.3%
2014 1.2% 1.2%
2013 1.3% 0.8%
2012 2.9% 1.9%
2011 4.1% 1.4%
2010 3.3% 1%
2009 3.5% -0.9%
2008 12.6% 3.5%
2007 5.9% 1.8%
2006 3.2% 0.6%
2005 1.9% 2.3%
2004 0.8% 1.6%
2003 0.2% -0.3%
2002 -0.3% -0.2%
2001 -0.8% 0%
2000 -1.2% 1.2%
1999 0.5% 0.2%
1998 0.4% 1.7%
1997 -0.4% 0.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/oman/taiwan | CC BY

Over the past 28 years, Oman has recorded an average annual inflation rate of 1.72%, compared with 1.14% in Taiwan. In 2024, inflation was 0.6% in Oman and 2.2% in Taiwan.

Balance of trade

Oman Taiwan
Current account balance
$3.07B
2024
$113B
2024
Current account balance ranking
39/190
2024
4/190
2024
Current account balance, % of GDP
+2.86%
2024
+14.1%
2024
Goods imports
$39.5B
2024
n/a
Goods exports
$65.2B
2024
n/a
Service imports
$12.8B
2024
n/a
Service exports
$5.64B
2024
n/a
Imports of goods and services, % of GDP
48.8%
2024
50.2%
2024
Exports of goods and services, % of GDP
66.1%
2024
63.3%
2024

Economic freedom indices

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

Oman Taiwan
Economic freedom 68.5 79.8
Economic freedom ranking 45/197 6/197
Property rights 71.8 83.4
Government integrity 49.4 74.3
Judicial effectiveness 28 94.3
Tax burden 97.6 78.9
Government spending 74.7 90
Fiscal health 97.5 92.9
Business freedom 67.8 78.6
Labor freedom 47.7 69
Monetary freedom 79.2 80.3
Trade freedom 78.4 86
Investment freedom 70 70
Financial freedom 60 60

Economic freedom comparison by year

Oman
Taiwan
1x
Year Economic freedom index
Oman Taiwan
2026 68.5 79.8
2025 65.4 79.7
2024 62.9 80
2023 58.5 80.7
2022 56.6 80.1
2021 64.6 78.6
2020 63.6 77.1
2019 61 77.3
2018 61 76.6
2017 62.1 76.5
2016 67.1 74.7
2015 66.7 75.1
2014 67.4 73.9
2013 68.1 72.7
2012 67.9 71.9
2011 69.8 70.8
2010 67.7 70.4
2009 67 69.5
2008 67.3 70.3
2007 65.8 69.4
2006 63.7 69.7
2005 66.5 71.3
2004 66.9 69.6
2003 64.6 71.7
2002 64 71.3
2001 67.7 72.8
2000 64.1 72.5
1999 64.9 71.5
1998 64.9 70.4
1997 64.5 70
1996 65.4 74.1
1995 70.2 74.2

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

GeoRank.org/economy/oman/taiwan | CC BY

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 79.8 for Taiwan, ranking 6/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Taiwan
Services, % of GDP
46%
2024
58.8%
2024
Industry, % of GDP
54.2%
2024
39.8%
2024
Agriculture, forestry, and fishing, % of GDP
2.6%
2024
1.47%
2024
GNI, Atlas method
$103B
2024
$832B
2024
GNI per capita, PPP
$39,340
2024
n/a
Total reserves including gold
$18.3B
2024
n/a
Total reserves ranking
64/177
2024
n/a
Net foreign direct investment
-$12.6B
2024
n/a
Net inflows of foreign direct investment
$12.5B
2024
n/a
Net outflows of foreign direct investment
-$143M
2024
n/a
Poverty at national poverty lines n/a
1.5%
2020
Gross capital formation, % of GDP
24.8%
2024
26.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); National Statistics, Taiwan (1985–2024, retrieved 2026-02-09); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/oman/taiwan | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. National Statistics, Taiwan (1951–2025, retrieved 2026-02-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.

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.