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Oman Records Biggest Ever Balance of Payments Surplus
Oman recorded its biggest ever balance of payments and current accountsurpluses in 1990, as a result of increased oil exports and the sharp rise inoil prices during the second half of the year. Oil revenues rose by 39% toOR1,934mn ($5,023mn) in 1990. Non-oil exports and re-exports rose by 5%, whileimports rose by 18%. Production by Petroleum Development Oman (PDO),...