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Economy of Oman vs Uganda compared: GDP & Debt

Updated on by Georank team

Oman has a GDP of $107B compared to $53.9B for Uganda, ranking 70/197 and 89/197 by economy size, respectively.

Oman has $38B in government debt (35.5% of GDP), compared to $27.8B (51.5% of GDP) in Uganda.

Oman vs Uganda GDP by year

Oman
Uganda
1x
Year GDP, current $
Oman Uganda
2024 $107,137,198,769 $53,911,907,086
2023 $106,174,708,037 $48,768,955,863
2022 $109,852,795,839 $45,565,333,211
2021 $87,323,797,139 $40,529,788,749
2020 $75,909,492,848 $37,600,368,242
2019 $88,060,858,257 $35,353,061,003
2018 $91,505,851,756 $32,927,025,620
2017 $80,856,697,009 $30,744,473,841
2016 $75,128,738,622 $29,203,988,696
2015 $78,710,793,238 $32,387,183,730
2014 $92,699,089,727 $32,612,397,257
2013 $89,936,020,806 $28,915,786,517
2012 $87,408,842,653 $27,305,915,911
2011 $77,497,529,259 $27,871,725,241
2010 $64,993,498,049 $26,673,441,431
2009 $55,454,096,229 $25,127,805,567
2008 $69,804,681,404 $14,440,404,132
2007 $48,300,390,117 $11,902,564,495
2006 $42,577,633,290 $9,977,647,683
2005 $35,506,892,068 $9,239,221,763
2004 $28,378,933,680 $7,939,487,548
2003 $24,733,680,104 $6,606,884,275
2002 $23,065,539,662 $6,178,563,591
2001 $22,205,721,717 $5,840,503,869
2000 $22,259,557,867 $6,193,246,837
1999 $17,832,769,831 $5,998,563,258
1998 $16,044,213,264 $6,584,815,847
1997 $18,039,791,938 $6,269,333,313
1996 $17,402,080,624 $6,044,585,327
1995 $15,722,236,671 $5,755,818,842
1994 $14,715,214,564 $3,990,430,447
1993 $14,230,429,129 $3,220,439,044
1992 $14,183,615,085 $2,857,457,762
1991 $12,918,335,501 $3,321,729,160
1990 $13,310,273,082 $4,304,399,310
1989 $9,372,171,651 $5,276,480,799
1988 $8,386,215,865 $6,508,931,652
1987 $7,811,183,095 $6,269,522,042
1986 $7,324,167,369 $3,923,244,050
1985 $10,005,645,420 $3,519,695,444
1984 $8,821,443,151 $3,615,647,477
1983 $7,932,541,691 $2,240,333,333
1982 $7,554,719,456 $2,177,500,000
1981 $7,259,120,151 $1,337,300,000
1980 $5,981,760,278 $1,244,610,000
1979 $3,733,352,635 $2,139,025,000
1978 $2,740,301,390 $2,420,260,870
1977 $2,741,169,948 $2,936,470,588
1976 $2,560,220,035 $2,447,300,000
1975 $2,096,699,189 $2,359,555,556
1974 $1,645,917,776 $2,098,944,967
1973 $483,066,991 $1,701,829,789
1972 $366,883,548 $1,490,970,181
1971 $301,010,587 $1,417,191,656
1970 $256,319,795 $1,259,554,809
1969 $239,999,808 $1,168,556,629
1968 $188,879,849 $1,037,379,252
1967 $107,151,832 $967,240,655
1966 $67,759,973 $925,381,492
1965 $63,279,975 $884,502,310
1964 $61,872,526 $589,247,687
1963 $59,912,763 $516,315,231
1962 $56,273,202 $449,158,233
1961 $45,634,487 $441,667,335
1960 $44,234,656 $423,145,605

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

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

GDP per capita in Oman vs Uganda by year

Oman
GDP per capita

GDP per capita, PPP
Uganda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Uganda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $20,285 $41,740 $1,078 $3,273
2023 $21,028 $41,945 $1,002 $3,098
2022 $23,224 $42,616 $963 $2,919
2021 $19,403 $38,719 $883 $2,685
2020 $16,785 $35,163 $846 $2,532
2019 $19,180 $37,251 $822 $2,441
2018 $19,902 $37,780 $792 $2,312
2017 $17,820 $33,619 $765 $2,158
2016 $17,110 $33,334 $753 $2,165
2015 $18,808 $36,058 $863 $2,190
2014 $23,161 $44,236 $896 $2,134
2013 $23,458 $47,013 $818 $2,045
2012 $24,642 $49,989 $795 $2,032
2011 $25,188 $52,393 $836 $2,268
2010 $23,570 $55,667 $823 $2,092
2009 $20,656 $55,127 $799 $2,015
2008 $26,577 $52,841 $473 $1,931
2007 $18,793 $48,627 $401 $1,795
2006 $16,931 $46,091 $347 $1,660
2005 $14,435 $43,673 $330 $1,497
2004 $11,801 $42,142 $292.4 $1,405
2003 $10,464 $40,935 $250.7 $1,320
2002 $9,869 $41,511 $242 $1,255
2001 $9,612 $41,679 $236 $1,173
2000 $9,754 $39,443 $258.1 $1,124
1999 $7,915 $36,792 $257.9 $1,100
1998 $7,219 $36,666 $292.5 $1,037
1997 $8,235 $36,809 $286.8 $1,007
1996 $8,068 $34,661 $284.7 $969
1995 $7,414 $33,598 $278.5 $897
1994 $7,068 $31,925 $198.4 $809
1993 $7,039 $30,987 $165.6 $770
1992 $7,318 $29,773 $152.1 $719
1991 $6,977 $28,109 $183 $703
1990 $7,546 $26,904 $245 $666
1989 $5,591 - $310 -
1988 $5,279 - $395 -
1987 $5,204 - $393 -
1986 $5,182 - $253.6 -
1985 $7,549 - $234.3 -
1984 $7,070 - $247.5 -
1983 $6,714 - $157.5 -
1982 $6,759 - $157 -
1981 $6,866 - $98.6 -
1980 $5,974 - $93.8 -
1979 $3,934 - $164.5 -
1978 $3,044 - $190.7 -
1977 $3,205 - $237.6 -
1976 $3,143 - $203.3 -
1975 $2,692 - $201.2 -
1974 $2,203 - $183.7 -
1973 $670 - $152.7 -
1972 $524 - $137 -
1971 $442 - $133.5 -
1970 $387 - $122 -
1969 $372 - $116.7 -
1968 $300 - $106.9 -
1967 $174.7 - $102.8 -
1966 $113.2 - $101.4 -
1965 $108.1 - $100 -
1964 $108.1 - $68.6 -
1963 $106.8 - $62 -
1962 $102.3 - $55.5 -
1961 $84.5 - $56.2 -
1960 $83.4 - $55.4 -

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

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

Oman's GDP per capita is $20,285, ranking 57/197, compared to $1,078 in Uganda, ranking 176/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Uganda ranks 176th at $3,273.

Economic indicators

Oman Uganda
Gross domestic product
$107B
2024
$53.9B
2024
GDP rank
70/197
2024
89/197
2024
GDP growth
1.63%
2023-2024
6.06%
2023-2024
GDP per capita
$20,285
2024
$1,078
2024
GDP per capita rank
57/197
2024
176/197
2024
GDP per capita, PPP
$41,740
2024
$3,273
2024
GDP per capita PPP rank
55/197
2024
176/197
2024
Government debt
$38B
2024
$27.8B
2024
Debt-to-GDP ratio
35.5%
2024
51.5%
2024
Government debt per person
$7,204
2024
$555
2024
Government debt per person rank
67/185
2024
163/185
2024
Average annual personal income after taxes
$20,894
2026
$1,466
2026
Market capitalization of domestic companies
$22.3B
2022
n/a
Number of billionaires
2
2025
n/a
Income share by richest 10% n/a
34.5%
2019
Income share by poorest 10% n/a
2.4%
2019
Government expenditure, % of GDP
28.7%
2024
18.7%
2024
Consumer prices inflation
0.6%
2023-2024
3.3%
2023-2024
Central bank interest rate
4.5%
2025
9.75%
2024
Unemployment rate
3.3%
2024
3.42%
2021
Population
5761708
53170946

Spending and national debt comparison by year

Oman
Spending

Debt
Uganda
Spending

Debt
1x
Year % of GDP
Oman Uganda
Government spending Government debt Government spending Government debt
2024 28.7% 35.5% 18.7% 51.5%
2023 27.5% 37.5% 19.3% 50.5%
2022 30.9% 41.7% 19.5% 50.2%
2021 36.5% 61.9% 22% 50.3%
2020 44.5% 67.9% 21.4% 46.3%
2019 38.8% 52.5% 18.3% 37.5%
2018 38.3% 44.7% 16.2% 34.9%
2017 39.4% 40.1% 16.3% 33.6%
2016 44.6% 29.3% 15.2% 31.3%
2015 44.5% 13.9% 14.9% 28%
2014 41.4% 4.04% 13.6% 24.8%
2013 39.3% 4.66% 13.3% 22.1%
2012 38.6% 4.59% 13.1% 19.5%
2011 34.5% 4.44% 13.2% 18%
2010 30.6% 5.46% 15.4% 18.4%
2009 33.4% 5.8% 11.8% 14.8%
2008 25.6% 3.2% 12.9% 15.7%
2007 30.7% 4.44% 13.2% 17%
2006 30.1% 7.56% 13.7% 27.8%
2005 30.6% 8.39% 14.5% 42.6%
2004 34.1% 14.5% 15.6% 49%
2003 34% 13% 16.5% 55.1%
2002 34.1% 15.9% 16.8% 54.7%
2001 33.3% 22.5% 16.2% 51.4%
2000 31.2% 21.7% 15.2% 48.5%
1999 34.2% 28.9% 14.7% 47.7%
1998 36.1% 30.9% 14% 45.1%
1997 32.1% 20.8% 13.9% 44.2%
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% - -
1990 36.5% 17.8% - -

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

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

In 2024, Oman's government spending was $30.7B, accounting for 28.7% of its GDP, while Uganda spent $10.1B, or 18.7% of GDP.

Debt-to-GDP ratio is 35.5% in Oman and 51.5% in Uganda, ranking 145/185 and 103/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Uganda
1x
Year Deficit/surplus, % of GDP
Oman Uganda
2024 3.31% -3.99%
2023 6.87% -4.87%
2022 10.5% -5.45%
2021 -3.17% -7.76%
2020 -15.7% -7.76%
2019 -4.83% -4.82%
2018 -6.72% -3.02%
2017 -10.5% -3.83%
2016 -19.6% -2.64%
2015 -13.5% -2.59%
2014 -1.58% -2.74%
2013 2.78% -3.19%
2012 4.07% -2.39%
2011 8.24% -2.04%
2010 4.95% -4.64%
2009 -0.27% -1.61%
2008 14.7% -1.99%
2007 10.5% -0.82%
2006 12.2% -0.64%
2005 11.2% -0.17%
2004 5.43% 0.34%
2003 5.92% -0.97%
2002 5.31% -2.07%
2001 7.55% -0.99%
2000 12.2% -0.62%
1999 0.3% -1.24%
1998 -4.37% -0.7%
1997 4.77% -0.83%
1996 2.22% -
1995 -3.9% -
1994 -7.47% -
1993 -6.84% -
1992 -4.85% -
1991 0.12% -
1990 4.78% -

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

GeoRank.org/economy/oman/uganda | 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 Uganda's deficit of $2.15B, or 3.99% of GDP.

Over the past 28 years, Oman recorded a fiscal deficit in 10 of those years, while Uganda ran a deficit in 27 years. On average, Oman posted an annual surplus equal to 1.81% of GDP, compared to deficit of 2.64% of GDP for Uganda.

Inflation comparison by year

Inflation
Oman

Uganda
1x
Year Consumer prices inflation
Oman Uganda
2024 0.6% 3.3%
2023 1% 5.4%
2022 2.5% 7.2%
2021 1.7% 2.2%
2020 -0.4% 2.8%
2019 0.5% 2.1%
2018 0.7% 2.5%
2017 1.5% 5.6%
2016 0.9% 5.2%
2015 0.1% 3.7%
2014 1.2% 4.3%
2013 1.3% 5.5%
2012 2.9% 14%
2011 4.1% 18.7%
2010 3.3% 4%
2009 3.5% 13%
2008 12.6% 12%
2007 5.9% 6.1%
2006 3.2% 7.2%
2005 1.9% 8.6%
2004 0.8% 3.7%
2003 0.2% 8.7%
2002 -0.3% -0.3%
2001 -0.8% 1.9%
2000 -1.2% 3.4%
1999 0.5% 5.8%
1998 0.4% 5.8%
1997 -0.4% 7.7%

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

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

Over the past 28 years, Oman has recorded an average annual inflation rate of 1.72%, compared with 6.08% in Uganda. In 2024, inflation was 0.6% in Oman and 3.3% in Uganda.

Top exports between countries

Oman
Export category Export value
Raw materials & minerals $2.18M
Machinery & equipment $94K
Miscellaneous $28K
Textiles & consumer goods $27K
Processed food, beverages & tobacco $11K
Chemicals & pharma $1K
Uganda
Export category Export value
Raw agricultural goods $4.55M
Processed food, beverages & tobacco $1.87M
Animal & marine products $985K
Wood & paper products $29K
Chemicals & pharma $26K
Raw materials & minerals $21K
Machinery & equipment $4K
Textiles & consumer goods $1K

Balance of trade

Oman Uganda
Current account balance
$3.07B
2024
-$4.29B
2024
Current account balance ranking
39/190
2024
164/190
2024
Current account balance, % of GDP
+2.86%
2024
-7.96%
2024
Goods imports
$39.5B
2024
$11.7B
2024
Goods exports
$65.2B
2024
$8.67B
2024
Service imports
$12.8B
2024
$4.38B
2024
Service exports
$5.64B
2024
$2.39B
2024
Imports of goods and services, % of GDP
48.8%
2024
25.9%
2024
Exports of goods and services, % of GDP
66.1%
2024
16.8%
2024

Economic freedom indices

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

Oman Uganda
Economic freedom 68.5 52.4
Economic freedom ranking 45/197 149/197
Property rights 71.8 42.2
Government integrity 49.4 25.1
Judicial effectiveness 28 29.4
Tax burden 97.6 73.4
Government spending 74.7 89
Fiscal health 97.5 58.3
Business freedom 67.8 50.2
Labor freedom 47.7 55.9
Monetary freedom 79.2 77.1
Trade freedom 78.4 58
Investment freedom 70 30
Financial freedom 60 40

Economic freedom comparison by year

Oman
Uganda
1x
Year Economic freedom index
Oman Uganda
2026 68.5 52.4
2025 65.4 51.3
2024 62.9 50.7
2023 58.5 51.4
2022 56.6 54.2
2021 64.6 58.6
2020 63.6 59.5
2019 61 59.7
2018 61 62
2017 62.1 60.9
2016 67.1 59.3
2015 66.7 59.7
2014 67.4 59.9
2013 68.1 61.1
2012 67.9 61.9
2011 69.8 61.7
2010 67.7 62.2
2009 67 63.5
2008 67.3 63.8
2007 65.8 63.1
2006 63.7 63.9
2005 66.5 62.9
2004 66.9 64.1
2003 64.6 60.1
2002 64 61
2001 67.7 60.4
2000 64.1 58.2
1999 64.9 64.8
1998 64.9 64.7
1997 64.5 66.6
1996 65.4 66.2
1995 70.2 62.9

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

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

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 52.4 for Uganda, ranking 149/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Uganda
Services, % of GDP
46%
2024
43.1%
2024
Industry, % of GDP
54.2%
2024
24.9%
2024
Agriculture, forestry, and fishing, % of GDP
2.6%
2024
24.6%
2024
GNI, Atlas method
$103B
2024
$50.9B
2024
GNI per capita, PPP
$39,340
2024
$3,190
2024
Total reserves including gold
$18.3B
2024
$3.36B
2018
Total reserves ranking
64/177
2024
114/177
2018
Net foreign direct investment
-$12.6B
2024
-$3.26B
2024
Net inflows of foreign direct investment
$12.5B
2024
$3.26B
2024
Net outflows of foreign direct investment
-$143M
2024
$400K
2024
Servicing debt to the IMF, % of GNI n/a
2.96%
2024
Poverty at national poverty lines n/a
20.3%
2019
Gross capital formation, % of GDP
24.8%
2024
22.4%
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/uganda | 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.