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Description Oman by rbd.me
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The inhabitants of the area of Oman have long prospered on Indian Ocean trade. In the late 18th century, a newly established sultanate in Muscat signed the first in a series of friendship treaties with Britain. Over time, Oman's dependence on British political and military advisors increased, but it never became a British colony. In 1970, QABOOS bin Said al-Said overthrew the restrictive rule of his father; he has ruled as sultan ever since. His extensive modernization program has opened the country to the outside world while preserving the longstanding close ties with the UK. Oman's moderate, independent foreign policy has sought to maintain good relations with all Middle Eastern countries.
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Location
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Middle East, bordering the Arabian Sea, Gulf of Oman, and Persian Gulf, between Yemen and UAE
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Area - comparative
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slightly smaller than Kansas
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Natural resources Oman
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petroleum, copper, asbestos, some marble, limestone, chromium, gypsum, natural gas
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Population Oman
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2,967,717
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Religions Oman
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Ibadhi Muslim 75%, other (includes Sunni Muslim, Shia Muslim, Hindu) 25%
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Languages
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Arabic (official), English, Baluchi, Urdu, Indian dialects
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Education Oman expenditures
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4% of GDP (2006)
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Government Oman type
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monarchy
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Independence
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1650 (expulsion of the Portuguese)
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Oman Economy - overview
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Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves, Muscat has actively pursued a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9% by 2020. Tourism and gas-based industries are key components of the government's diversification strategy. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production in 2009, giving the country more time to diversify. The drop in oil prices in 2008 and the global financial crisis reduced Oman's budget surplus in 2009 and slowed the pace of investment and development projects, but GDP growth still was positive, in part because Muscat implemented an expansionary fiscal policy.
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Investment Oman
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2.8% of GDP (2009 est.)
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Industries Oman
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crude oil production and refining, natural and liquefied natural gas (LNG) production; construction, cement, copper, steel, chemicals, optic fiber
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Airports Oman
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6,346 (2009)
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