The Sultanate of Oman is first in the growth rate of total investments in the Arab world, according to the 2021 report of the Arab Investment and Export Credit Guarantee Corporation (Daman).
The final Quarterly Investment Guarantee report for 2021 issued by Daman indicates that Oman’s total investments grew by 37.3 per cent to US$16.5 billion (RO 6.3 billion) in 2021. The figure is expected to hit US$18.2 billion (RO 7 billion) this year.
The Sultanate was ranked second among the Arab countries in the highest increase in GDP per capita in 2021 with a percentage of 23.7.
GDP per capita increased by 23.7 per cent from US$14,200 in 2020 to $17,600 in 2021. Per capita GDP is expected to grow to US$18,200 in 2022.
Total Arab countries’ per capita GDP rose by 1.3 per cent to US$9.3 thousand on average.
The report indicated that Oman’s GDP increased by 2.5 per cent in 2021 and the growth in GDP is expected to reach 2.9 per cent in the current year.
The Omani riyal was among the eight Arab currencies that recorded an increase against the dollar in 2021.
The report said that, despite the challenges that faced the world economy in 2020 and 2021, the national currencies of four Arab countries- Kuwait, the Sultanate of Oman, Bahrain and Jordan – remained the highest against the dollar.