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Oman: Fact Sheet

Area: 309,500 sq. km. (coastline 2,092 kms.)
Capital: Muscat
Main Cities: Muscat (capital), Nizwa, Sohar, Salalah, Sur, Buraimi.

Founder: Imam Ahmed bin Said (1778)
Political system: Absolute Monarchy. No political parties.
Present Ruler: His Majesty Sultan Qaboos bin Said Al Said (since 1970)
Head of the State and Govt: The Sultan is Head of State and he is his own Prime Minister, Foreign Minister, Defence Minister and Finance Minister. He rules by Royal Decrees.
Parliament and its role: Bicameral. The parliament is constituted of two Houses: 84-member elected Majlis al-Shura having four-year terms with limited legislative powers (Elections for the seventh council were held on 15th October 2011) and 83-member Majlis al-Dawla having nominated members with advisory powers.
No. of Provinces: 11 provinces, headed by a Governor ( muafa)
National Day: November 18

Total Volume of Bilateral Trade: US$ 4.55 billion(2012-13), Oman is the 40rh largest trade partner of India; 34th largest market in the world for Indian exports; destination of more than 0.87% of India’s global exports and source of 0.4% of India’s global imports. For Oman, India is the 3rd largest market for its exports, accounting for 10.2% of its global exports. For non-oil Omani exports during 2012, India was its largest destination. In terms of imports by Oman, India ranks 5th and is source of around 3.8% of Oman’s total imports.
India’s major imports from Oman: Petroleum, petrochemical products and fertilizers.
India’s major exports to Oman: Machinery, electrical & electronic equipments, iron & steel products, synthetic fiber & yarn, textile and apparels, meat, coffee, tea, rice, plastic products and seafood.
Indian Investment in Oman: Oman India Fertilizer Company (OMIFCO), a US$ 969 mn. joint venture with Oman Oil and Iffco & Kribhco (50:50). Jindal Shadeed Iron & Steel plant: a US$ 464 mn. investment from Jindal Group of India. As of July 2010, there were 1537 Indo-Omani JVs in Oman of which Indian investment is estimated around US$ 4.5 bn.
Omani Investment in India: Bharat Oman Refinery Limited (BORL): a US$ 2.4 bn JV between BPCL and Oman Oil Co. According to DIPP, FDI from Oman to India is US$ 30 mn.
Indian organizations/ companies in Oman: Air India, Jet Airways, IndiGo, LIC, Bank of Baroda, State Bank of India, New India Assurance Co, TCIL, Wipro, EIL etc. There are 19 Indian schools, with classes up to XII in various parts of the Sultanate and are affiliated to CBSE.

Population: 3.83 mn. (Feb 2013 data.) (Omanis: 2.15 mn., Expatriates:1.68 mn.)
Density: 10.16 inhabitants per sq. km.
Annual population growth rate: 2.043 % ( 2012 est.)
GDP growth rate: 5% (2012 est.)
Unemployment rate: 15 %( 2011 est.)
Religion: Ibadhi Muslim 75%, Others 25%
Language: Arabic
Judicial system: Mixed legal system of Anglo-Saxon law and Islamic law

Total strength in the Sultanate: Over 7 lakhs, single largest expatriate community in the Sultanate.

Proven crude oil reserve: 5.5 bn. bbl ( 2011 est.)
Natural Gas reserve: 30 tn. cubic feet ( Jan.2012 estimates)
Current daily output of oil and gas: Oil:912,500 bpd (Actual Jan-Oct.2012)
Gas: 1 tn. cu.ft. (2011)
GDP per capita: $27,600 (2011 est.)
2013 Budgetary Projections:
Expenditure: RO 12.9 bn.
Revenue: RO 11.2 bn.
(72 % of revenue projections from sale of crude oil at estimated price of US$85 per barrel with estimated production of 930,000 bpd)
Main emphasis in budget: Education (RO 1.3 bn.), Social Development & Housing (RO 189 mn.), Health sector (RO 523 mn.), Defence & Security (RO 3.555bn.) and Oil & Gas production( RO 440 mn.).
WTO Membership: Joined on 09.11.2000
Leading Foreign Trading partners: Exporting to Oman: China 30.5%, South Korea 11%, Japan 10.5%, India 10.1%, UAE 10.6%, Thailand 5.4%, US 4.7% (2011)
Importing from Oman: UAE 27.8%, Japan 12%, India 5.3%, US 6.1%, China 4.3% Saudi Arabia 4.1% Germany 4% (2011)

(i) Currency: Rial Omani (R.O.) 1 = 1000 Baizas. (R.O. 1 = U.S.$ 2.58 or R.O. 0.387 = US$ 1)
(ii) Calendar/ Public Holidays: Oman follows the Gregorian calendar. Fridays and Saturdays are official weekly holidays.
(iii) Airlines: Air India and Oman Air have daily flights connecting Muscat and Salalah with Indian destinations such as Delhi, Mumbai, Kozhikode, Cochin, Thiruvanthapuran, Jaipur, Bengaluru, Chennai, Hyderabad and Lucknow. Jet Airways and IndiGo also have flights connecting Mumbai with Muscat.
June 23, 2013