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Economy of Oman vs Ukraine compared: GDP & Debt

Updated on by Georank team

Oman has a GDP of $107B compared to $191B for Ukraine, ranking 70/197 and 57/197 by economy size, respectively.

Oman has $38B in government debt (35.5% of GDP), compared to $171B (89.7% of GDP) in Ukraine.

Oman vs Ukraine GDP by year

Oman
Ukraine
1x
Year GDP, current $
Oman Ukraine
2024 $107,137,198,769 $190,741,262,415
2023 $106,174,708,037 $181,221,517,869
2022 $109,852,795,839 $161,989,520,721
2021 $87,323,797,139 $199,765,859,571
2020 $75,909,492,848 $156,617,722,013
2019 $88,060,858,257 $153,883,047,510
2018 $91,505,851,756 $130,891,088,294
2017 $80,856,697,009 $112,090,505,082
2016 $75,128,738,622 $93,355,869,404
2015 $78,710,793,238 $91,030,967,789
2014 $92,699,089,727 $133,503,871,862
2013 $89,936,020,806 $190,498,811,460
2012 $87,408,842,653 $182,591,753,828
2011 $77,497,529,259 $169,333,835,202
2010 $64,993,498,049 $141,209,170,427
2009 $55,454,096,229 $121,552,153,444
2008 $69,804,681,404 $188,110,390,660
2007 $48,300,390,117 $148,733,861,386
2006 $42,577,633,290 $111,884,752,475
2005 $35,506,892,068 $89,238,865,119
2004 $28,378,933,680 $67,220,154,164
2003 $24,733,680,104 $52,010,355,753
2002 $23,065,539,662 $43,956,163,612
2001 $22,205,721,717 $39,309,580,983
2000 $22,259,557,867 $32,375,083,935
1999 $17,832,769,831 $31,580,639,554
1998 $16,044,213,264 $41,882,523,345
1997 $18,039,791,938 $50,151,531,592
1996 $17,402,080,624 $44,558,831,005
1995 $15,722,236,671 $48,213,856,469
1994 $14,715,214,564 $52,549,580,265
1993 $14,230,429,129 $65,648,559,903
1992 $14,183,615,085 $73,945,908,384
1991 $12,918,335,501 $77,350,733,982
1990 $13,310,273,082 $81,393,558,423
1989 $9,372,171,651 $82,709,161,099
1988 $8,386,215,865 $74,703,517,903
1987 $7,811,183,095 $64,087,694,038
1986 $7,324,167,369 -
1985 $10,005,645,420 -
1984 $8,821,443,151 -
1983 $7,932,541,691 -
1982 $7,554,719,456 -
1981 $7,259,120,151 -
1980 $5,981,760,278 -
1979 $3,733,352,635 -
1978 $2,740,301,390 -
1977 $2,741,169,948 -
1976 $2,560,220,035 -
1975 $2,096,699,189 -
1974 $1,645,917,776 -
1973 $483,066,991 -
1972 $366,883,548 -
1971 $301,010,587 -
1970 $256,319,795 -
1969 $239,999,808 -
1968 $188,879,849 -
1967 $107,151,832 -
1966 $67,759,973 -
1965 $63,279,975 -
1964 $61,872,526 -
1963 $59,912,763 -
1962 $56,273,202 -
1961 $45,634,487 -
1960 $44,234,656 -

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

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

GDP per capita in Oman vs Ukraine by year

Oman
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $20,285 $41,740 $5,038 $18,550
2023 $21,028 $41,945 $4,803 $17,665
2022 $23,224 $42,616 $3,946 $14,770
2021 $19,403 $38,719 $4,510 $17,846
2020 $16,785 $35,163 $3,505 $15,541
2019 $19,180 $37,251 $3,423 $14,217
2018 $19,902 $37,780 $2,895 $12,555
2017 $17,820 $33,619 $2,467 $11,536
2016 $17,110 $33,334 $2,047 $10,865
2015 $18,808 $36,058 $1,988 $9,922
2014 $23,161 $44,236 $2,904 $10,494
2013 $23,458 $47,013 $4,130 $10,904
2012 $24,642 $49,989 $3,951 $9,552
2011 $25,188 $52,393 $3,657 $9,127
2010 $23,570 $55,667 $3,040 $8,453
2009 $20,656 $55,127 $2,607 $7,995
2008 $26,577 $52,841 $4,018 $9,324
2007 $18,793 $48,627 $3,160 $8,900
2006 $16,931 $46,091 $2,366 $7,971
2005 $14,435 $43,673 $1,875 $7,142
2004 $11,801 $42,142 $1,401 $6,663
2003 $10,464 $40,935 $1,076 $5,764
2002 $9,869 $41,511 $903 $5,123
2001 $9,612 $41,679 $800 $4,747
2000 $9,754 $39,443 $653 $4,228
1999 $7,915 $36,792 $632 $3,871
1998 $7,219 $36,666 $831 $3,794
1997 $8,235 $36,809 $987 $3,794
1996 $8,068 $34,661 $870 $3,812
1995 $7,414 $33,598 $933 $4,124
1994 $7,068 $31,925 $1,009 $4,565
1993 $7,039 $30,987 $1,254 $5,766
1992 $7,318 $29,773 $1,413 $6,568
1991 $6,977 $28,109 $1,483 $7,148
1990 $7,546 $26,904 $1,564 $7,591
1989 $5,591 - $1,593 -
1988 $5,279 - $1,444 -
1987 $5,204 - $1,244 -
1986 $5,182 - - -
1985 $7,549 - - -
1984 $7,070 - - -
1983 $6,714 - - -
1982 $6,759 - - -
1981 $6,866 - - -
1980 $5,974 - - -
1979 $3,934 - - -
1978 $3,044 - - -
1977 $3,205 - - -
1976 $3,143 - - -
1975 $2,692 - - -
1974 $2,203 - - -
1973 $670 - - -
1972 $524 - - -
1971 $442 - - -
1970 $387 - - -
1969 $372 - - -
1968 $300 - - -
1967 $174.7 - - -
1966 $113.2 - - -
1965 $108.1 - - -
1964 $108.1 - - -
1963 $106.8 - - -
1962 $102.3 - - -
1961 $84.5 - - -
1960 $83.4 - - -

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

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

Oman's GDP per capita is $20,285, ranking 57/197, compared to $5,038 in Ukraine, ranking 120/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Ukraine ranks 101st at $18,550.

Economic indicators

Oman Ukraine
Gross domestic product
$107B
2024
$191B
2024
GDP rank
70/197
2024
57/197
2024
GDP growth
1.63%
2023-2024
2.91%
2023-2024
GDP per capita
$20,285
2024
$5,038
2024
GDP per capita rank
57/197
2024
120/197
2024
GDP per capita, PPP
$41,740
2024
$18,550
2024
GDP per capita PPP rank
55/197
2024
101/197
2024
Government debt
$38B
2024
$171B
2024
Debt-to-GDP ratio
35.5%
2024
89.7%
2024
Government debt per person
$7,204
2024
$4,520
2024
Government debt per person rank
67/185
2024
86/185
2024
Average annual personal income after taxes
$20,894
2026
$5,370
2026
Market capitalization of domestic companies
$22.3B
2022
$4.42B
2018
Number of billionaires
2
2025
7
2025
Income share by richest 10% n/a
21.7%
2020
Income share by poorest 10% n/a
4.3%
2020
Government expenditure, % of GDP
28.7%
2024
71.3%
2024
Consumer prices inflation
0.6%
2023-2024
6.5%
2023-2024
Central bank interest rate
4.5%
2025
15.5%
2025
Unemployment rate
3.3%
2024
9.83%
2021
Population
5761708
40125599

Spending and national debt comparison by year

Oman
Spending

Debt
Ukraine
Spending

Debt
1x
Year % of GDP
Oman Ukraine
Government spending Government debt Government spending Government debt
2024 28.7% 35.5% 71.3% 89.7%
2023 27.5% 37.5% 73.4% 81.2%
2022 30.9% 41.7% 65.4% 77.7%
2021 36.5% 61.9% 40.5% 48.9%
2020 44.5% 67.9% 45.6% 60.5%
2019 38.8% 52.5% 41.5% 50.5%
2018 38.3% 44.7% 41.9% 60.4%
2017 39.4% 40.1% 41.7% 71.6%
2016 44.6% 29.3% 40.8% 79.5%
2015 44.5% 13.9% 43% 79.3%
2014 41.4% 4.04% 44.8% 70.3%
2013 39.3% 4.66% 48.1% 40.5%
2012 38.6% 4.59% 49% 37.5%
2011 34.5% 4.44% 45.7% 36.9%
2010 30.6% 5.46% 49.2% 40.6%
2009 33.4% 5.8% 48.6% 35.4%
2008 25.6% 3.2% 47.1% 20.4%
2007 30.7% 4.44% 43.7% 12.3%
2006 30.1% 7.56% 44.6% 14.8%
2005 30.6% 8.39% 44.2% 17.7%
2004 34.1% 14.5% 41.6% 24.8%
2003 34% 13% 38.9% 29.4%
2002 34.1% 15.9% 37.9% 33.6%
2001 33.3% 22.5% 36.7% 36.7%
2000 31.2% 21.7% 35.5% 43.8%
1999 34.2% 28.9% 25.8% 59%
1998 36.1% 30.9% 37.1% 46.5%
1997 32.1% 20.8% 40.8% 28.9%
1996 33.5% 21.2% 36.9% 24.4%
1995 38.2% 21.9% 41.3% 30.2%
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); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1996, retrieved 2026-02-20).

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

In 2024, Oman's government spending was $30.7B, accounting for 28.7% of its GDP, while Ukraine spent $136B, or 71.3% of GDP.

Debt-to-GDP ratio is 35.5% in Oman and 89.7% in Ukraine, ranking 145/185 and 33/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Ukraine
1x
Year Deficit/surplus, % of GDP
Oman Ukraine
2024 3.31% -17.2%
2023 6.87% -19.3%
2022 10.5% -15.6%
2021 -3.17% -3.97%
2020 -15.7% -5.92%
2019 -4.83% -2.08%
2018 -6.72% -2.12%
2017 -10.5% -2.36%
2016 -19.6% -2.46%
2015 -13.5% -1.16%
2014 -1.58% -4.46%
2013 2.78% -4.78%
2012 4.07% -4.31%
2011 8.24% -2.76%
2010 4.95% -5.77%
2009 -0.27% -6.27%
2008 14.7% -3.14%
2007 10.5% -1.97%
2006 12.2% -1.36%
2005 11.2% -2.28%
2004 5.43% -4.41%
2003 5.92% -0.89%
2002 5.31% -1.84%
2001 7.55% -3.03%
2000 12.2% -3.19%
1999 0.3% 4.95%
1998 -4.37% -2.69%
1997 4.77% -5.37%
1996 2.22% -3.09%
1995 -3.9% -4.72%
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/ukraine | 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 Ukraine's deficit of $32.8B, or 17.2% of GDP.

Over the past 30 years, Oman recorded a fiscal deficit in 11 of those years, while Ukraine ran a deficit in 29 years. On average, Oman posted an annual surplus equal to 1.63% of GDP, compared to deficit of 4.45% of GDP for Ukraine.

Inflation comparison by year

Inflation
Oman

Ukraine
1x
Year Consumer prices inflation
Oman Ukraine
2024 0.6% 6.5%
2023 1% 12.9%
2022 2.5% 20.2%
2021 1.7% 9.4%
2020 -0.4% 2.7%
2019 0.5% 7.9%
2018 0.7% 10.9%
2017 1.5% 14.4%
2016 0.9% 13.9%
2015 0.1% 48.7%
2014 1.2% 12.1%
2013 1.3% -0.3%
2012 2.9% 0.6%
2011 4.1% 8%
2010 3.3% 9.4%
2009 3.5% 15.9%
2008 12.6% 25.2%
2007 5.9% 12.8%
2006 3.2% 9.1%
2005 1.9% 13.5%
2004 0.8% 9%
2003 0.2% 5.2%
2002 -0.3% 0.8%
2001 -0.8% 12%
2000 -1.2% 28.2%
1999 0.5% 22.7%
1998 0.4% 10.6%
1997 -0.4% 15.9%

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

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

Over the past 28 years, Oman has recorded an average annual inflation rate of 1.72%, compared with 12.8% in Ukraine. In 2024, inflation was 0.6% in Oman and 6.5% in Ukraine.

Top exports between countries

Oman
Export category Export value
Chemicals & pharma $2.1M
Machinery & equipment $149K
Processed food, beverages & tobacco $44K
Raw materials & minerals $27K
Textiles & consumer goods $25K
Miscellaneous $9K
Ukraine
Export category Export value
Animal & marine products $13.2M
Metals $10.6M
Processed food, beverages & tobacco $9.81M
Raw agricultural goods $678K
Textiles & consumer goods $580K
Machinery & equipment $440K
Raw materials & minerals $313K
Chemicals & pharma $193K
Wood & paper products $11K
Miscellaneous $3K

Balance of trade

Oman Ukraine
Current account balance
$3.07B
2024
-$15.1B
2024
Current account balance ranking
39/190
2024
179/190
2024
Current account balance, % of GDP
+2.86%
2024
-7.94%
2024
Goods imports
$39.5B
2024
$72.3B
2024
Goods exports
$65.2B
2024
$39.3B
2024
Service imports
$12.8B
2024
$22.9B
2024
Service exports
$5.64B
2024
$17.3B
2024
Imports of goods and services, % of GDP
48.8%
2024
48.3%
2024
Exports of goods and services, % of GDP
66.1%
2024
29.4%
2024

Economic freedom indices

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

Oman Ukraine
Economic freedom 68.5 54.1
Economic freedom ranking 45/197 135/197
Property rights 71.8 21.6
Government integrity 49.4 35
Judicial effectiveness 28 28.2
Tax burden 97.6 83.7
Government spending 74.7 0
Fiscal health 97.5 3.9
Business freedom 67.8 57.4
Labor freedom 47.7 46.9
Monetary freedom 79.2 65.7
Trade freedom 78.4 73
Investment freedom 70 35
Financial freedom 60 30

Economic freedom comparison by year

Oman
Ukraine
1x
Year Economic freedom index
Oman Ukraine
2026 68.5 -
2025 65.4 -
2024 62.9 -
2023 58.5 -
2022 56.6 54.1
2021 64.6 56.2
2020 63.6 54.9
2019 61 52.3
2018 61 51.9
2017 62.1 48.1
2016 67.1 46.8
2015 66.7 46.9
2014 67.4 49.3
2013 68.1 46.3
2012 67.9 46.1
2011 69.8 45.8
2010 67.7 46.4
2009 67 48.8
2008 67.3 51
2007 65.8 51.5
2006 63.7 54.4
2005 66.5 55.8
2004 66.9 53.7
2003 64.6 51.1
2002 64 48.2
2001 67.7 48.5
2000 64.1 47.8
1999 64.9 43.7
1998 64.9 40.4
1997 64.5 43.5
1996 65.4 40.6
1995 70.2 39.9

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

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

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 54.1 for Ukraine, ranking 135/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Ukraine
Services, % of GDP
46%
2024
60.6%
2024
Industry, % of GDP
54.2%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
2.6%
2024
7.11%
2024
GNI, Atlas method
$103B
2024
$184B
2024
GNI per capita, PPP
$39,340
2024
$18,560
2024
Total reserves including gold
$18.3B
2024
$43.8B
2024
Total reserves ranking
64/177
2024
46/177
2024
Net foreign direct investment
-$12.6B
2024
-$3.71B
2024
Net inflows of foreign direct investment
$12.5B
2024
$4.02B
2024
Net outflows of foreign direct investment
-$143M
2024
$305M
2024
Servicing debt to the IMF, % of GNI n/a
5.42%
2024
Poverty at national poverty lines n/a
23.2%
2020
Gross capital formation, % of GDP
24.8%
2024
18.6%
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/ukraine | 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 (2020–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–1996, 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.

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.