Saturday 10 / January / 2026
Muscat – As the Sultanate of Oman marks January 11, the anniversary of the accession of His Majesty Sultan Haitham bin Tarik building a competitive, sustainable, and investment-friendly economy supported by clear legislation and forward-looking policies.
The launch of the Eleventh Five-Year Development Plan (2026–2030) at the beginning of this year represents a strategic transition from economic recovery to a phase of growth and expansion.
The plan is founded on integrated legislative and regulatory frameworks and confirms Oman’s steady progress towards a prosperous and sustainable future under His Majesty’s leadership.
Strong Performance of the National Economy
Non-oil sectors continue to play a pivotal role in driving economic growth and financial sustainability, reflecting the success of diversification policies under Oman Vision 2040. Their contribution to GDP at constant prices rose to 73.3% by the third quarter of 2025, compared to 72.5% in 2024.
Oman maintained its 58th global ranking in the 2025 Index of Economic Freedom, supported by reforms that enhanced the business environment and regulatory efficiency.
GDP at constant prices grew by 2.2% by the end of the third quarter of 2025, reaching OMR 28.69 billion, driven mainly by a 3.4% increase in non-oil activities, while oil activities recorded a modest growth of 0.3%. GDP at current prices reached OMR 31.07 billion, with non-oil activities increasing by 3.5%.
The trade balance recorded a surplus of OMR 4.69 billion by the end of October 2025, while foreign direct investment grew by 12.8%, reaching OMR 30.28 billion by the second quarter of 2025.
Inflation remained low at an average of 0.9% until November 2025, reflecting effective economic policies and price stability.
Financial Markets and Credit Ratings
The Muscat Stock Exchange achieved strong performance in 2025, with market capitalization exceeding OMR 32.2 billion, a 60% increase compared to 2020. Trading value surged by over 1,000%, surpassing OMR 5 billion, supported by market reforms and the launch of new investment platforms.
Oman’s financial discipline led all three major credit rating agencies to upgrade the Sultanate to investment-grade status in 2025:
• Standard & Poor’s: BBB- (Stable)
• Moody’s: Baa3 (Stable)
• Fitch: BBB- (Stable)
Innovation, Digital Economy and AI
Oman continues to advance in artificial intelligence and digital transformation through pilot projects in healthcare, judiciary, cybersecurity, education, and public services. The number of innovative Omani startups reached 205, with a market value of USD 395 million, creating 549 jobs for Omani youth.
Oman ranked:
• 1st globally in Cybersecurity Readiness
• 41st in E-Government Development
• 45th in Government AI Readiness
The digital economy’s contribution to GDP is expected to approach 3% by the end of 2025, with a target of 10% by 2040.
Investment, Governorates, and Strategic Sectors
Assets of the Oman Investment Authority grew to OMR 21 billion, contributing over OMR 4.4 billion to the state budget during the Tenth Plan. The Oman Future Fund approved investments in 164 projects worth OMR 462 million.
Total development approvals for governorates reached OMR 983 million by the end of 2025, compared to OMR 285 million in 2021.
Cumulative investments in special economic zones, free zones, and industrial cities exceeded OMR 22 billion, while the ports and logistics sector recorded strong growth led by ASYAD Group, which expanded internationally and attracted OMR 2.41 billion in FDI.
Sectoral Growth
• Industry: 7% annual growth; exports nearing OMR 7 billion
• Tourism: 2.83 million visitors; OMR 1.99 billion total output
• Mining: New concession areas and agreements boosting sector potential
• Renewable Energy: Contribution reached 11.5%, targeting 30% by 2030
Eleventh Five-Year Plan Outlook
Dr. Nasser bin Rashid Al Maawali, Undersecretary of the Ministry of Economy, affirmed that Oman has achieved a transformative shift in economic and financial performance during the Tenth Five-Year Plan, with GDP growing by 14% since 2021 and public debt declining to safe levels.
He noted that the Eleventh Five-Year Plan aims to achieve:
• Average GDP growth of 4%
• Inflation below 2%
• Private sector contribution of 56%
• Investment-to-GDP ratio of 28%
• Non-oil growth of 4%
The plan prioritizes manufacturing, tourism, and the digital economy, while supporting economic decentralization, sustainability, governance, and job creation.
Under the wise leadership of His Majesty Sultan Haitham bin Tarik, the Sultanate of Oman continues to translate vision into tangible achievements, laying strong foundations for a diversified, resilient, and prosperous future.
