Macroeconomic Outlook Report: Oman

Macroeconomic Outlook Report: Oman

Summary

According to GlobalData, mining, manufacturing, and utilities contributed 46.0% to the gross value added (GVA) in 2024, followed by other services (29.3%) and wholesale, retail, and hotel business activities (8.9%). In nominal terms, the three sectors are expected to grow by 0.9%, 1.5%, and 2.0%, respectively, in 2025.

Muscat is the major city of Oman, accounting for 28.3% to the country’s GDP and 27.8% of the population in 2024, according to GlobalData.

In January 2025, the Hafeet Rail Company, a joint venture between Etihad Rail, Oman Rail, and Mubadala Investment, was announced, which aims to establish the first cross-border rail network between Oman and the UAE. Spanning 238km, the project will connect Sohar to the UAE’s national rail network, thereby enhancing socioeconomic ties between the two nations.

Scope

• Macroeconomic Country Outlook Reports evaluate a country's investment potential through its political, economic, social, technological, legal, and environmental (PESTLE) framework.
• This comprehensive analysis offers a holistic view of the economy, serving as a strategic tool to understand market dynamics, business potential, and operational direction. Each PESTLE factor is examined based on four parameters: current strengths, current challenges, future prospects, and future risks. These insights support strategic planning by highlighting opportunities and risks within the economy, helping businesses and investors make informed decisions. The report aims to provide a detailed understanding of the country's macroeconomic environment to facilitate effective decision-making and strategy development.

• Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
• PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
• Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
• This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.