Article Outline
All of Oman’s electric power is generated from domestic oil- and gas-burning plants. Although Oman’s oil reserves will be exhausted in the near future, natural gas reserves are being increasingly tapped as a domestic energy source.
Oman’s road network is well developed, especially along the Gulf of Oman coast, where a highway connects Masqaţ with Dubai in the United Arab Emirates (UAE). Another major highway connects northern Oman and Salālah in Dhofar. Increasing numbers of Omanis get around by car. There are two modern deep-water ports and an oil terminal for supertankers. Seeb International Airport is located on the outskirts of Masqaţ. Oman operates Gulf Air with the Persian Gulf nation of Bahrain and the UAE emirate of Abu Dhabi. There is domestic air service between the major cities as well as intercity bus service.
Oman has a number of locally operated radio and television stations with service throughout the country. Several daily newspapers and other periodicals are published. News reporting is subject to government censorship. There are 103 telephone mainlines for every 1,000 residents.
In 2003 Omani exports totaled $11.4 billion while imports amounted to $6.6 billion. Although other exports are being promoted, including metals and food products, petroleum dominates Oman’s export sector. The main imports are machinery, transportation equipment, basic manufactures, and food products. The major destinations of Oman’s exports are Japan, South Korea, China, Thailand, and Singapore; the leading sources of imports are the UAE, Japan, the United Kingdom, the United States, and Germany. Oman is a member of the International Bank for Reconstruction and Development (World Bank) and the International Monetary Fund (IMF). It does not belong to the Organization of Petroleum Exporting Countries (OPEC) but generally observes oil prices and production levels set by that organization. Membership in the Cooperation Council for the Arab States of the Gulf facilitates trade and investment with Saudi Arabia, Kuwait, Bahrain, Qatar, and the UAE.
The basic unit of currency in Oman is the rial Omani (0.40 rial equals U.S.$1; fixed rate). It is divided into 1,000 baiza. The bank of issue is the Central Bank of Oman (founded in 1975). The rial is the only currency circulated, although in some rural areas transactions occur outside the cash economy.
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