Gross Domestic Product (GDP)
Oman’s economy is heavily dependent on dwindling oil resources, which generate nearly 84% of government revenue. National GDP growth rate ranges between 4.5% and 5% annually with the largest contribution coming from industry sector and oil and natural gas exports. In 2013, Oman's total population was 3.36 million with 77% of the total population is urbanized. CO2 emissions in the same year were 57.92 Mt representing 3.5% of total Middle East emissions. One third of Oman’s current energy needs are met by oil, however, its oil reserves are predicted to have a remaining lifespan of only 40 years (compared to over 100 years for Abu Dhabi’s reserves). Oman's peak power demand reached 3,856MW in 2010, representing a 46.5% increase since 2005. The country suffered severe power shortages in part due to the rapid rise in demand by 180% between 2000 and 2010. Its peak demand is expected to grow at about 9% per year, increasing from 5122 MW in 2014 to reach 9530 MW in 2021.