Oman GDP to Grow 3.5% in 2026 and 2027, Standard Chartered Forecasts
Standard Chartered has also raised its forecast for Oman’s fiscal surplus to 4.6% of GDP in 2026 and 3.6% in 2027.
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Standard Chartered forecasts Oman’s GDP to grow 3.5% in both 2026 and 2027, supported by continued non-oil activity and a positive contribution from hydrocarbon production.
The bank expects non-oil growth to remain supported by logistics, manufacturing and continued public investment linked to Oman Vision 2040.
Standard Chartered has also raised its forecast for Oman’s fiscal surplus to 4.6% of GDP in 2026 and 3.6% in 2027, compared with its previous forecasts of 0.5% and 1%, respectively.
Public debt is expected to decline to approximately 33% of GDP by the end of 2026 and 31% by the end of 2027.
The bank also revised its current-account surplus forecasts to 5% of GDP in 2026 and 3.4% in 2027, up from previous estimates of 1% and 1.5%, respectively.
Hussain Al Yafai, Chief Executive Officer and Head of Coverage, Standard Chartered Oman, said: “Oman is entering the next phase of its development from a stronger economic position. Sustained non-oil growth alongside improving fiscal and external balances provides a firmer foundation for continued investment in the sectors that will shape the Sultanate’s next phase of diversification. The opportunity is to convert this resilience into broader and more durable growth as Oman advances the ambitions of Vision 2040.”
Standard Chartered also expects Oman’s ports, industrial zones and logistics infrastructure to support investment as international companies reassess supply chains and trade routes. The bank expects investment activity across logistics, manufacturing, re-export operations and energy-related infrastructure to increase.
Al Yafai added: “As companies rethink supply chains and trade routes, Oman’s advantage is increasingly about connectivity as well as resilience. Its ports, industrial zones and logistics infrastructure serve as a strong platform to capture greater trade and investment activity and strengthen its links with regional and global markets. This can support the continued expansion of the non-oil economy while reinforcing Oman’s position as an increasingly important destination for long-term investment.”
The bank expects continued investment in logistics, manufacturing and energy-related infrastructure, alongside non-oil economic growth, to support Oman’s broader diversification efforts.
Standard Chartered forecasts Oman’s GDP to grow 3.5% in both 2026 and 2027, supported by continued non-oil activity and a positive contribution from hydrocarbon production.
The bank expects non-oil growth to remain supported by logistics, manufacturing and continued public investment linked to Oman Vision 2040.
Standard Chartered has also raised its forecast for Oman’s fiscal surplus to 4.6% of GDP in 2026 and 3.6% in 2027, compared with its previous forecasts of 0.5% and 1%, respectively.
Entrepreneur Middle East Staff
Entrepreneur Staff
