Oman's economy expands 275 times since 1970

 10 Jul 2017 - 0:12

Oman's economy expands 275 times since 1970
A view of Petroleum Development of Oman PDO near Muscat (Reuters)

QNA

The GDP of the Sultanate of Oman has increased from $256.29m in 1970 to $66.29bn in 2016 witnessing a significant jump of 275 times during the period, according to a recent statistical bulletin published by the World Bank on its website.
The Bank also said that the highest GDP was recorded in 2014 as it hit $81.03bn due to oil price hike, (ONA,) reported.
The Bank pointed out that the per capita GDP in the Sultanate increased from $320 in 1970 to $18,080 in 2015, which has grown by 56.5 times during the period. The World Bank noted that the student enrollment rate in the Sultanate's Schools increased from 2.83 percent of the total population at the school age to 109.28 percent in 2015.