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Oman

Welcome to the price transmission page for Oman. This page enables you to look into the country and its crops more specifically to gain an understanding of the level of risk and also, to view its historic warning periods per commodity. Select a time range or a specific date to view the data in more detail.

Oman

Historic Warnings per Commodity

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Background information

The Arab country Oman in the southeast of the Arabian Peninsula holds a strategic position at the mouth of the Persian Gulf. Oman’s economy is heavily dependent on its oil deposits as extraction accounts for roughly 85% of government revenue. Other economic sectors are tourism and trade of fish, dates, and certain agricultural products. A recent diversification plan foresees a significant reduction of the oil dependency until 2020 because of dwindling resources and the high dependency on fluctuating commodity prices. Oman is an absolute monarchy.

The mostly dry and desert country is not well suited for agriculture. Consequently, less than 5% of the land area is used for agricultural purposes. Important products include dates, limes, bananas, alfalfa and vegetables. Livestock and fishery along the coastline are also important sources of income. The sector is vulnerable to sand and dust storms as well as periodic droughts. Overall, Oman is a net food importer.

In terms of the HDI (2014), Oman ranks in the high human development category with a value of 0.793. Since the 1970’s, Oman has been a labor importing country especially from Asian countries. However, the rising numbers of young Omanis entering the workforce have troubles finding adequate employment, since they lack relevant work experience compared to second-generation migrants in comparable jobs. Nevertheless, Oman has been able to halve the unemployment rate to currently 7.2% within the past decade.