Muscat: The Sultanate of Oman was ranked first in the growth rate of total investments in the Arab world, in the 2021 report of the Arab Investment and Export Credit Guarantee Corporation (Daman).
The final Quarterly Investment Guarantee report for 2021 issued by Daman indicated that the Sultanate of Oman’s total investments grew by 37.3 per cent to $16.5 billion (RO 6.3 billion) in 2021. The figure is expected to hit $18.2 billion (RO 7 billion) this year.
The Sultanate of Oman 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 $14,200 in 2020 to $17,600 in 2021. Per capita GDP is expected to grow to $18,200 in 2022. Total Arab countries' per capita GDP rose by 1.3 per cent to $9.3 thousand on average.
The report indicated that the Sultanate of 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.
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