Oman is a medium income country that depends on the incomes of the oil industry. The country gas oil reserves that reach 4 billion barrels, this means it has left supplies for the next 20 years. Its governments is stimulating private investment in order to promote economic developments, especially in the industry, technology and tourism sectors. Agriculture has maintained low production levels, so the country depends on imports.
In order to depend less on oil, Oman is working in a development plan focused in diversification, industrialization and attraction of foreign investment.
Main imports: Oil, metals, textiles, and fish
Main exports: livestock, manufactured goods, transport machinery and food