Economy (Oman)
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     Overview:
         Economic performance is closely tied to the fortunes of the oil industry.
         Petroleum accounts for more than 90% of export earnings, about 80% of
         government revenues, and roughly 40% of GDP. Oman has proved oil reserves of
         4 billion barrels, equivalent to about 20 years' supply at the current rate
         of extraction. Although agriculture employs a majority of the population,
         urban centers depend on imported food.
     GDP:
         exchange rate conversion - $10.6 billion, per capita $6,925 (1990); real
         growth rate 0.5% (1989)
     Inflation rate (consumer prices):
         1.3% (1989)
     Unemployment rate:
         NA%
     Budget:
         revenues $4.9 billion; expenditures $4.9 billion, including capital
         expenditures of $825 million (1990)
     Exports:
         $5.5 billion (f.o.b., 1990)
       commodities:
         petroleum, reexports, fish, processed copper, fruits and vegetables
       partners:
         Japan 35%, South Korea 21%, Singapore 7%, US 6%
     Imports:
         $2.5 billion (f.o.b, 1990)
       commodities:
         machinery, transportation equipment, manufactured goods, food, livestock,
         lubricants
       partners:
         UK 20%, UAE 20%, Japan 17%, US 7%
     External debt:
         $3.1 billion (December 1989 est.)
     Industrial production:
         growth rate 10% (1989), including petroleum sector
     Electricity:
         1,120,000 kW capacity; 5,000 million kWh produced, 3,800 kWh per capita
         (1991)
     Industries:
         crude oil production and refining, natural gas production, construction,
         cement, copper
     Agriculture:
         accounts for 6% of GDP and 60% of the labor force (including fishing); less
         than 2% of land cultivated; largely subsistence farming (dates, limes,
         bananas, alfalfa, vegetables, camels, cattle); not self-sufficient in food;
         annual fish catch averages 100,000 metric tons
     Economic aid:
         US commitments, including Ex-Im (FY70-89), $137 million; Western (non-US)
         countries, ODA and OOF bilateral commitments (1970-89), $148 million; OPEC
         bilateral aid (1979-89), $797 million
     Currency:
         Omani rial (plural - rials); 1 Omani rial (RO) = 1,000 baiza
     Exchange rates:
         Omani rials (RO) per US$1 - 0.3845 (fixed rate since 1986)
     Fiscal year:
         calendar year