72.5%
Official 2024 non-oil GDP share
The latest official report places Oman at 72.5 percent versus the 2040 target of 91.6 percent.
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Signal brief
Non-oil GDP Share Path
The non-oil share is the simplest big-picture diversification read on the site. It compresses many moving parts into one directional question: is the economy becoming structurally less oil-dependent?
76.5%
Independent benchmark read
The benchmark lens suggests a more recent and somewhat stronger snapshot.
91.6%
2040 target
A high bar that still requires long-run compounding across multiple sectors.
Target frame
What Oman is trying to do
- Push the economy toward a structure in which non-oil activity dominates national output.
- Use diversification gains to reinforce fiscal resilience, labour-market quality, and export depth.
- Build enough breadth that non-oil performance does not rely on one or two sectors alone.
Current read
Where execution stands now
- The direction is clearly positive. Oman is no longer stuck in a static diversification story.
- The distance to 91.6 percent is still large enough that the country cannot afford weak years, complacency, or overreliance on one sector for the next decade.
- The signal becomes much stronger when accompanied by sector-level proof in manufacturing, logistics, tourism, agriculture, and new energy.
Regional lens
How the UAE and Saudi files compare
UAE comparison
- The UAE frames its diversification race through overall GDP, trade, and non-oil export targets rather than through a single non-oil-share headline.
- That gives Oman a clearer singular KPI, but also means the public should keep demanding sector-level context around it.
Saudi comparison
- Saudi’s parallel scorecards include non-oil exports as a share of non-oil GDP and broader non-oil GDP growth goals, which makes the diversification race more operationally decomposed.
- Oman can benefit from building a similar supporting KPI stack around its own non-oil share path.
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