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Economy of Oman vs Yemen compared: GDP & Debt

Updated on by Georank team

Oman has a GDP of $107B compared to $21.6B for Yemen, ranking 70/197 and 125/197 by economy size, respectively.

Oman has $38B in government debt (35.5% of GDP), compared to $18.8B (70.9% of GDP) in Yemen.

Oman vs Yemen GDP by year

Oman
Yemen
1x
Year GDP, current $
Oman Yemen
2024 $107,137,198,769 -
2023 $106,174,708,037 -
2022 $109,852,795,839 -
2021 $87,323,797,139 -
2020 $75,909,492,848 -
2019 $88,060,858,257 -
2018 $91,505,851,756 $21,606,160,663
2017 $80,856,697,009 $26,842,229,045
2016 $75,128,738,622 $31,317,825,274
2015 $78,710,793,238 $42,444,490,074
2014 $92,699,089,727 $43,228,585,321
2013 $89,936,020,806 $40,415,233,436
2012 $87,408,842,653 $35,401,331,610
2011 $77,497,529,259 $32,726,417,878
2010 $64,993,498,049 $30,906,749,533
2009 $55,454,096,229 $25,130,278,213
2008 $69,804,681,404 $26,910,855,807
2007 $48,300,390,117 $21,650,528,674
2006 $42,577,633,290 $19,063,143,370
2005 $35,506,892,068 $16,731,566,717
2004 $28,378,933,680 $13,867,634,371
2003 $24,733,680,104 $11,777,532,662
2002 $23,065,539,662 $10,693,430,511
2001 $22,205,721,717 $9,852,990,693
2000 $22,259,557,867 $9,679,316,770
1999 $17,832,769,831 $7,639,325,296
1998 $16,044,213,264 $6,322,175,566
1997 $18,039,791,938 $6,838,298,531
1996 $17,402,080,624 $6,496,163,616
1995 $15,722,236,671 $12,796,345,679
1994 $14,715,214,564 $28,019,483,764
1993 $14,230,429,129 $21,736,802,664
1992 $14,183,615,085 $17,959,367,194
1991 $12,918,335,501 $14,665,445,462
1990 $13,310,273,082 $12,643,821,569
1989 $9,372,171,651 -
1988 $8,386,215,865 -
1987 $7,811,183,095 -
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/yemen | CC BY

GDP per capita in Oman vs Yemen by year

Oman
GDP per capita

GDP per capita, PPP
Yemen
GDP per capita

GDP per capita, PPP
1x
Year Current $
Oman Yemen
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $20,285 $41,740 - -
2023 $21,028 $41,945 - -
2022 $23,224 $42,616 - -
2021 $19,403 $38,719 - -
2020 $16,785 $35,163 - -
2019 $19,180 $37,251 - -
2018 $19,902 $37,780 $634 -
2017 $17,820 $33,619 $811 -
2016 $17,110 $33,334 $975 -
2015 $18,808 $36,058 $1,362 -
2014 $23,161 $44,236 $1,430 -
2013 $23,458 $47,013 $1,379 $3,164
2012 $24,642 $49,989 $1,245 $3,005
2011 $25,188 $52,393 $1,186 $3,113
2010 $23,570 $55,667 $1,155 $3,603
2009 $20,656 $55,127 $969 $3,411
2008 $26,577 $52,841 $1,072 $3,370
2007 $18,793 $48,627 $890 $3,294
2006 $16,931 $46,091 $810 $3,205
2005 $14,435 $43,673 $734 $3,113
2004 $11,801 $42,142 $628 $2,949
2003 $10,464 $40,935 $549 $2,844
2002 $9,869 $41,511 $513 $2,768
2001 $9,612 $41,679 $487 $2,702
2000 $9,754 $39,443 $493 $2,624
1999 $7,915 $36,792 $401 $2,492
1998 $7,219 $36,666 $343 $2,442
1997 $8,235 $36,809 $383 $2,351
1996 $8,068 $34,661 $375 $2,268
1995 $7,414 $33,598 $764 $2,201
1994 $7,068 $31,925 $1,735 $2,115
1993 $7,039 $30,987 $1,397 $2,013
1992 $7,318 $29,773 $1,198 $1,963
1991 $6,977 $28,109 $1,016 $1,843
1990 $7,546 $26,904 $910 $1,742
1989 $5,591 - - -
1988 $5,279 - - -
1987 $5,204 - - -
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/yemen | CC BY

Oman's GDP per capita is $20,285, ranking 57/197, compared to $634 in Yemen, ranking 191/197. Adjusted for purchasing power (GDP per capita PPP), Oman ranks 55th at $41,740, while Yemen ranks 178th at $3,164.

Economic indicators

Oman Yemen
Gross domestic product
$107B
2024
$21.6B
2018
GDP rank
70/197
2024
125/197
2018
GDP growth
1.63%
2023-2024
0.75%
2017-2018
GDP per capita
$20,285
2024
$634
2018
GDP per capita rank
57/197
2024
191/197
2018
GDP per capita, PPP
$41,740
2024
$3,164
2013
GDP per capita PPP rank
55/197
2024
178/197
2013
Government debt
$38B
2024
$18.8B
2018
Debt-to-GDP ratio
35.5%
2024
70.9%
2024
Government debt per person
$7,204
2024
$551
2018
Government debt per person rank
67/185
2024
165/185
2018
Average annual personal income after taxes
$20,894
2026
$1,127
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
29.4%
2014
Income share by poorest 10% n/a
3%
2014
Government expenditure, % of GDP
28.7%
2024
8.91%
2024
Consumer prices inflation
0.6%
2023-2024
33.9%
2023-2024
Central bank interest rate
4.5%
2025
n/a
Unemployment rate
3.3%
2024
13.5%
2014
Population
5761708
43325643

Spending and national debt comparison by year

Oman
Spending

Debt
Yemen
Spending

Debt
1x
Year % of GDP
Oman Yemen
Government spending Government debt Government spending Government debt
2024 28.7% 35.5% 8.91% 70.9%
2023 27.5% 37.5% 11.8% 77.9%
2022 30.9% 41.7% 12.2% 65.3%
2021 36.5% 61.9% 8.22% 75.9%
2020 44.5% 67.9% 10.6% 87%
2019 38.8% 52.5% 13.2% 91.5%
2018 38.3% 44.7% 14.3% 86.9%
2017 39.4% 40.1% 8.39% 83.8%
2016 44.6% 29.3% 16.1% 76.5%
2015 44.5% 13.9% 19.4% 57.7%
2014 41.4% 4.04% 27.8% 48.9%
2013 39.3% 4.66% 30.8% 48.4%
2012 38.6% 4.59% 36.2% 47.6%
2011 34.5% 4.44% 29.8% 45.7%
2010 30.6% 5.46% 30.2% 42.4%
2009 33.4% 5.8% 35.2% 49.8%
2008 25.6% 3.2% 41.2% 36.4%
2007 30.7% 4.44% 40.3% 40.4%
2006 30.1% 7.56% 37.4% 40.8%
2005 30.6% 8.39% 36.8% 43.8%
2004 34.1% 14.5% 34.2% 52.1%
2003 34% 13% 35.3% 56.8%
2002 34.1% 15.9% 30.8% 57.8%
2001 33.3% 22.5% 30.5% 60.6%
2000 31.2% 21.7% 31.7% 60.8%
1999 34.2% 28.9% 28.2% 96.1%
1998 36.1% 30.9% 34.3% 110.6%
1997 32.1% 20.8% 34.2% 74.2%
1996 33.5% 21.2% 30.7% 114.9%
1995 38.2% 21.9% 24.1% 84.1%
1994 39.7% 23.6% 25.2% 73.3%
1993 40.1% 22.2% 25.8% 76.7%
1992 40.1% 23.1% 24.6% 78%
1991 37.4% 22.6% 24.7% 82.7%
1990 36.5% 17.8% 26.6% 91.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-02-20).

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

In 2024, Oman's government spending was $30.7B, accounting for 28.7% of its GDP, while Yemen spent $3.08B, or 8.91% of GDP.

Debt-to-GDP ratio is 35.5% in Oman and 70.9% in Yemen, ranking 145/185 and 55/185, respectively.

Government deficit by year

Deficit/surplus
Oman

Yemen
1x
Year Deficit/surplus, % of GDP
Oman Yemen
2024 3.31% -2.48%
2023 6.87% -5.63%
2022 10.5% -2.15%
2021 -3.17% -0.89%
2020 -15.7% -4.3%
2019 -4.83% -5.89%
2018 -6.72% -7.85%
2017 -10.5% -4.9%
2016 -19.6% -8.51%
2015 -13.5% -8.75%
2014 -1.58% -4.14%
2013 2.78% -6.9%
2012 4.07% -6.32%
2011 8.24% -4.51%
2010 4.95% -4.06%
2009 -0.27% -10.2%
2008 14.7% -4.53%
2007 10.5% -7.18%
2006 12.2% 1.19%
2005 11.2% -1.82%
2004 5.43% -2.15%
2003 5.92% -4.2%
2002 5.31% -0.56%
2001 7.55% 2.79%
2000 12.2% 6.09%
1999 0.3% 0.06%
1998 -4.37% -7.77%
1997 4.77% -1.5%
1996 2.22% -0.92%
1995 -3.9% -5.74%
1994 -7.47% -14%
1993 -6.84% -12.8%
1992 -4.85% -10.9%
1991 0.12% -5.76%
1990 4.78% -10.3%

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

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

In 2018, Oman's government deficit, the difference between spending and revenue, was $6.15B, equivalent to 6.72% of GDP. This compares to Yemen's deficit of $1.7B, or 7.85% of GDP.

Over the past 29 years, Oman recorded a fiscal deficit in 11 of those years, while Yemen ran a deficit in 25 years. On average, Oman posted an annual surplus equal to 1.3% of GDP, compared to deficit of 5.04% of GDP for Yemen.

Inflation comparison by year

Inflation
Oman

Yemen
1x
Year Consumer prices inflation
Oman Yemen
2024 0.6% 33.9%
2023 1% 0.9%
2022 2.5% 29.5%
2021 1.7% 31.5%
2020 -0.4% 21.7%
2019 0.5% 15.7%
2018 0.7% 33.6%
2017 1.5% 30.4%
2016 0.9% 21.3%
2015 0.1% 22%
2014 1.2% 8.2%
2013 1.3% 11%
2012 2.9% 9.9%
2011 4.1% 19.5%
2010 3.3% 11.2%
2009 3.5% 3.7%
2008 12.6% 19%
2007 5.9% 7.9%
2006 3.2% 10.8%
2005 1.9% 9.9%
2004 0.8% 12.5%
2003 0.2% 10.8%
2002 -0.3% 12.2%
2001 -0.8% 11.9%
2000 -1.2% 11%
1999 0.5% 7.9%
1998 0.4% 11.5%
1997 -0.4% 4.6%

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

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

Over the past 28 years, Oman has recorded an average annual inflation rate of 1.72%, compared with 15.5% in Yemen. In 2024, inflation was 0.6% in Oman and 33.9% in Yemen.

Top exports between countries

Oman
Export category Export value
Processed food, beverages & tobacco $127M
Raw agricultural goods $59.9M
Raw materials & minerals $47.4M
Chemicals & pharma $36.5M
Animal & marine products $28.1M
Machinery & equipment $23.7M
Metals $19.3M
Wood & paper products $18M
Textiles & consumer goods $7.54M
Miscellaneous $1.62M
Yemen
Export category Export value
Animal & marine products $72.8M
Raw agricultural goods $9.42M
Processed food, beverages & tobacco $2.85M
Machinery & equipment $1.42M
Wood & paper products $168K
Raw materials & minerals $26K
Metals $16K
Textiles & consumer goods $6K
Precious metals & jewellery $5K
Chemicals & pharma $3K

Balance of trade

Oman Yemen
Current account balance
$3.07B
2024
-$2.42B
2016
Current account balance ranking
39/190
2024
148/190
2016
Current account balance, % of GDP
+2.86%
2024
-7.72%
2016
Goods imports
$39.5B
2024
$6.8B
2016
Goods exports
$65.2B
2024
$473M
2016
Service imports
$12.8B
2024
$1.46B
2016
Service exports
$5.64B
2024
$466M
2016
Imports of goods and services, % of GDP
48.8%
2024
47.3%
2018
Exports of goods and services, % of GDP
66.1%
2024
8.76%
2018

Economic freedom indices

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

Oman Yemen
Economic freedom 68.5 53.7
Economic freedom ranking 45/197 138/197
Property rights 71.8 3.5
Government integrity 49.4 6.2
Judicial effectiveness 28 9.9
Tax burden 97.6 93.7
Government spending 74.7 0
Fiscal health 97.5 71.2
Business freedom 67.8 31.3
Labor freedom 47.7 31.2
Monetary freedom 79.2 48.1
Trade freedom 78.4 67.4
Investment freedom 70 50
Financial freedom 60 30

Economic freedom comparison by year

Oman
Yemen
1x
Year Economic freedom index
Oman Yemen
2026 68.5 -
2025 65.4 -
2024 62.9 -
2023 58.5 -
2022 56.6 -
2021 64.6 -
2020 63.6 -
2019 61 -
2018 61 -
2017 62.1 -
2016 67.1 -
2015 66.7 53.7
2014 67.4 55.5
2013 68.1 55.9
2012 67.9 55.3
2011 69.8 54.2
2010 67.7 54.4
2009 67 56.9
2008 67.3 53.8
2007 65.8 54.1
2006 63.7 52.6
2005 66.5 53.8
2004 66.9 50.5
2003 64.6 50.3
2002 64 48.6
2001 67.7 44.3
2000 64.1 44.5
1999 64.9 43.3
1998 64.9 46.1
1997 64.5 48.4
1996 65.4 49.6
1995 70.2 49.8

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

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

The Economic Freedom Index for Oman is 68.5, ranking 45/197, compared to 53.7 for Yemen, ranking 138/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Oman Yemen
Services, % of GDP
46%
2024
41.8%
2018
Industry, % of GDP
54.2%
2024
25.4%
2018
Agriculture, forestry, and fishing, % of GDP
2.6%
2024
28.7%
2018
GNI, Atlas method
$103B
2024
$25.3B
2018
GNI per capita, PPP
$39,340
2024
$3,020
2013
Total reserves including gold
$18.3B
2024
$1.25B
2022
Total reserves ranking
64/177
2024
139/177
2022
Net foreign direct investment
-$12.6B
2024
$15.4M
2015
Net inflows of foreign direct investment
$12.5B
2024
-$371M
2019
Net outflows of foreign direct investment
-$143M
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
0.53%
2018
Poverty at national poverty lines n/a
48.6%
2014
Gross capital formation, % of GDP
24.8%
2024
6.18%
2018

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/yemen | 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 (2015–2023, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, 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.