Flag description:
three horizontal bands of white, red, and green of equal width with
a broad, vertical, red band on the hoist side; the national emblem
(a khanjar dagger in its sheath superimposed on two crossed swords
in scabbards) in white is centered near the top of the vertical band
Economy Oman
Economy - overview:
Oman is a middle-income economy in the Middle East with notable oil
and gas resources, a substantial trade surplus, and low inflation.
The government is privatizing its utilities and diversifying its
economy to attract foreign investment. Oman continues to liberalize
its markets and joined the World Trade Organization (WTO) in
November 2000. To reduce unemployment and limit dependence on
foreign countries, the government is encouraging the replacement of
expatriate workers with local people, i.e., Omanization. Training in
information technology, business management, and English support
this objective. Industrial development plans focus on gas resources,
metal manufacturing, petrochemicals, and international transshipment
ports.
GDP (purchasing power parity):
$38.09 billion (2004 est.)
GDP - real growth rate:
1.2% (2004 est.)
GDP - per capita:
purchasing power parity - $13,100 (2004 est.)
GDP - composition by sector: agriculture: 3.1% industry: 41.1% services: 55.8% (2004 est.)
Labor force:
920,000 (2002 est.)
Labor force - by occupation:
agriculture NA, industry NA, services NA
Unemployment rate:
15% (2004 est.)