Insurance and financial services in Oman
Oman: Insurance and financial services was 1.5% in 2024. ◆ Volatile
Insurance and financial services in Oman, 1996–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
In 2024, insurance and financial services in Oman stood at 1.5%.
That represents a change of down 2.3% on the previous year and down 19.3% over ten years.
Over the whole period, insurance and financial services in Oman peaked at 13.6% in 2006 and was at its lowest, 0.4%, in 2004.
Oman ranks 120th of 190 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Oman, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1996 | 1.1% | — |
| 1997 | 2.2% | +103.6% |
| 1998 | 2.1% | -4.2% |
| 1999 | 2.1% | -2.7% |
| 2000 | 2.8% | +35.1% |
| 2001 | 0.4% | -84.7% |
| 2002 | 0.4% | +0.0% |
| 2003 | 0.4% | -7.5% |
| 2004 | 0.4% | -11.0% |
| 2005 | 0.6% | +56.8% |
| 2006 | 13.6% | +2347.7% |
| 2007 | 1.5% | -89.2% |
| 2008 | 2.3% | +55.2% |
| 2009 | 1.8% | -19.7% |
| 2010 | 2.3% | +27.5% |
| 2011 | 1.9% | -16.7% |
| 2012 | 2.0% | +0.6% |
| 2013 | 1.8% | -5.3% |
| 2014 | 1.9% | +2.8% |
| 2015 | 1.5% | -18.5% |
| 2016 | 1.5% | -3.8% |
| 2017 | 1.3% | -11.9% |
| 2018 | 1.2% | -8.4% |
| 2019 | 1.2% | +2.4% |
| 2020 | 2.6% | +114.1% |
| 2021 | 3.6% | +36.4% |
| 2022 | 2.5% | -30.2% |
| 2023 | 1.6% | -37.4% |
| 2024 | 1.5% | -2.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.9% | 1.1% | 2.2% | 4 |
| 2000s | 2.4% | 0.4% | 13.6% | 10 |
| 2010s | 1.7% | 1.2% | 2.3% | 10 |
| 2020s | 2.4% | 1.5% | 3.6% | 5 |
Countries ranked near Oman
More private sector data for Oman
- Merchandise trade 91.0% (2025)
- Food imports 13.9% (2024)
- Manufactures imports 53.2% (2024)
- Merchandise imports 44.50 billion current US$ (2025)
- Food exports 3.3% (2024)
- Manufactures exports 13.8% (2024)
- Merchandise exports 55.28 billion current US$ (2025)
- Merchandise exports (current US$), per capita 10,060 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.5043 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate -15.17 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Oman?
- Insurance and financial services in Oman was 1.5% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Oman?
- The highest recorded value was 13.6% in 2006.
- What is the lowest insurance and financial services recorded in Oman?
- The lowest recorded value was 0.4% in 2004.
- How does Oman rank for insurance and financial services?
- Oman ranks 120th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Oman?
- Over the last ten years it is down 19.3%. The long-run trend across the full record is volatile.
- Where does this Oman data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service exports). Statizoid updates them automatically from the source API.
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About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.