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Oman’s economic diversification cum trade structure

Hamid, Zarinah and Mohd Amin, Ruzita (2017) Oman’s economic diversification cum trade structure. Omani Journal of Applied Sciences, 6 (1). pp. 10-24. ISSN 1990-5149

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In line with Oman‘s National Programme for Enhancing Economic Diversification "Tanfeedh" which has received the Royal approval and has been endorsed by the Royal Decree 1/2016, this paper attempts to analyze the potential success of economic diversification of Oman by adopting measurements of trade concentration profile as used in Pitigala (2005). Tanfeedh's mandate is to implement the ninth five-year plan (2016-2020), which calls for oil's contribution to GDP to decrease to 26 per cent. The government has chosen five sectors with which it sees its best potential, namely: manufacturing, transport and logistics, tourism, fisheries and mining. This paper investigates whether or not Oman possesses the necessary trade structure by analyzing her dynamic exports between the years 1990 to 2015. In addition, the HerfindahlHirschman concentration index is also being employed to measure trade concentration for selected years for Oman and other GCC countries as a comparison. The advantage of using these measurements at the disaggregated level is that they allow for a more in-depth analysis at the product level that could be used to gauge the prospects for the success of economic diversification. The findings of this paper provide useful information for the formulation of strategies that would enhance Oman‘s economic diversification programme "Tanfeedh". It also serves additional information as to whether it needs to realign the existing policies in order to promote a more favorable environment and sustainable development in Oman.

Item Type: Article (Journal)
Additional Information: 728/62126
Uncontrolled Keywords: Economic diversification, Oman, Trade concentration, Trade structure, GCC countries
Subjects: H Social Sciences > HA Statistics > HA154 Statistical data
H Social Sciences > HA Statistics > HA29 Theory and method of social science statistics
H Social Sciences > HC Economic History and Conditions > HC94 By region or country
H Social Sciences > HF Commerce > HF1014 Balance of trade
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Dr. Zarinah Hamid
Date Deposited: 20 Feb 2018 11:50
Last Modified: 20 Feb 2018 11:50
URI: http://irep.iium.edu.my/id/eprint/62126

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