Oman’s GDP rises 275 times since 1970: World Bank

Energy Sunday 09/July/2017 22:30 PM
By: Times News Service
Oman’s GDP rises 275 times since 1970: World Bank

Washington: Oman’s GDP increased from $256,299,469 million in 1970 to $66.29 billion in 2016 i.e it increased 275 times during the period, according to a bulletin published on World Bank website. The Bank also said that the highest GDP was recorded in 2014 as it hit $81.03 due to oil price hike.
The Bank pointed out that the per capita GDP in Oman increased from $320 in 1970 to 18,080 in 2015 i.e it increased 56.5 times during the period. The World Bank noted that the student enrollment rate in the Sultanate’s Schools increased from 2.83% of the total population at the school age to 109.28% in 2015. The rate increased 100% while adding the children who exceeded and who are below the school age.
The Bank forecasts that the Sultanate’s GDP growth rate will be 2.9% in 2017, 3.4% in 2018 and 3.6% in 2019.