Definition
GDP Non-Oil Share measures the percentage of a country’s total gross domestic product generated by economic sectors other than crude oil and natural gas extraction. It is calculated by subtracting hydrocarbon GDP from total GDP and expressing the remainder as a percentage. This indicator is the single most important metric for assessing economic diversification progress in oil-dependent economies, as it captures the combined growth of manufacturing, services, tourism, agriculture, fisheries, mining, and all other non-hydrocarbon activities relative to the total economy.
Oman’s Vision 2040 Data
61% (2017) → ~70.5% (2023 est.) → 83.9% target (2030) → 91.6% target (2040)
Why It Matters
For Oman, the non-oil GDP share is the headline indicator that defines the success or failure of Vision 2040’s diversification strategy. A rising non-oil share means the economy is becoming less dependent on volatile commodity revenues, more resilient to oil price shocks, and better positioned to sustain government services and employment as hydrocarbon reserves deplete. The 91.6 percent 2040 target would transform Oman from a predominantly oil-dependent economy to one where hydrocarbons contribute less than 10 percent of GDP — a structural transformation comparable to the industrialisation trajectories of Malaysia or Chile.
Related Indicators
Vision 2040 uses this indicator alongside the Economic Complexity Index, Non-Oil Revenue as percentage of GDP, and sectoral GDP breakdowns to build a comprehensive picture of diversification progress. See the KPI Tracker for detailed progress analysis.