note: adopted 1932; new words were written after QABOOS bin Said al Said gained power in 1970; the anthem was first performed by the band of a British ship as a salute to the Sultan during a 1932 visit to Muscat; the bandmaster of the HMS Hawkins was asked to write a salutation to the Sultan on the occasion of his visiting the ship
Economy ::Oman
Economy - overview:
Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves, Muscat has actively pursued a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9% by 2020. Tourism and gas-based industries are key components of the government's diversification strategy. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production, giving the country more time to diversify, and the increase in global oil prices thoughout 2010 provides the government greater financial resources to invest in non-oil sectors.
GDP (purchasing power parity):
$76.53 billion (2010 est.) country comparison to the world: 80 $73.87 billion (2009 est.)
$72.42 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$53.78 billion (2010 est.)