MUSCAT — Recent data from the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicates substantial progress in Oman’s sustainable development metrics, contributing to the broader advancement of Gulf Cooperation Council (GCC) nations.
The country’s development initiatives align with Oman Vision 2040, a long-term strategic plan that incorporates the United Nations’ 2030 Sustainable Development Goals. Statistical indicators reveal near-universal access to basic services across the sultanate: 99.8 percent of the population has access to managed drinking water services, while electricity coverage and medical supervision of births have reached virtually 100 percent.
Economic indicators show measured growth, with real GDP per capita increasing by 1.5 percent annually. The nation’s efforts to diversify beyond oil appear to be gaining traction, with the non-oil sector now accounting for 64.2 percent of GDP at current prices. Government expenditure in 2023 reached $30.185 billion, while per capita GDP stood at $21,100. Inflation remained relatively low at 0.9 percent.
In international rankings, Oman has achieved notable positions in several categories. The country topped the 2024 Cybersecurity Readiness Index and placed second globally in the proportion of science and engineering graduates. It ranked eighth in the 2023 Quality of Life Index and ninth in government spending per student.
Within the Arab world, Oman leads in renewable energy regulation and ranks second in environmental performance. The country has implemented 430 national strategic programs through its 10th Five-Year Development Plan, including initiatives focused on sustainability, digital economy, and employment.
New development programs include the Social Protection Fund, Future Fund Oman, and a strategy for green hydrogen development. These initiatives form part of a broader effort to transform the nation’s economy and infrastructure.
The sultanate’s progress contributes to the GCC’s significant position in the global economy. Collectively, the GCC ranks as the world’s 11th largest economy, accounting for 2 percent of global GDP. The region’s sovereign wealth funds hold $4.4 trillion in assets, representing 34 percent of the top 100 global sovereign wealth funds.
The Gulf states maintain their dominance in energy markets, leading global oil production at 16.7 million barrels per day and holding the world’s largest crude oil reserves at 512 billion barrels. The region ranks third globally in marketed natural gas production, at 463.5 billion cubic meters.
Trade figures underscore the GCC’s economic significance: the region maintains the world’s fourth-largest merchandise trade balance surplus at $163.7 billion, with total merchandise exports of $823.1 billion. The GCC’s overall merchandise trade volume reaches $1.5 trillion, placing it sixth globally.
Within the Arab world, the GCC leads in several key metrics, including competitive economies, institutional environment, and logistics performance. The council’s member states contribute 60.5 percent of the Arab world’s total GDP at current prices, reflecting the region’s substantial economic influence.
