Muscat: Oman’s export sector has made a splash in the first half of this year, reeling in a 10% increase in insured sales, totalling RO 106.6 million. This marks a significant uptick from the RO 96.7 million recorded during the same period last year.
Sheikh Khalil bin Ahmed Al Harthy, CEO of Credit Oman, attributed this robust growth to the government’s strategic focus on economic diversification and investment attraction. He highlighted that Omani exports have steadily risen thanks to initiatives aimed at boosting entrepreneurship and diversifying income sources in the Sultanate.
In a statement to the Oman News Agency, Al Harthy emphasized Credit Oman’s alignment with government plans to propel Omani exports onto the global stage. The company’s insured sales, including export and local sales, reached a substantial RO 183.8 million in the first half of 2024.
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Breaking down the numbers, Credit Oman insured 7.5% of total insurable Omani exports during this period. The building and construction materials sector led the charge with RO 42 million in insured sales, followed by the food and consumer goods sector at RO 35.2 million, and the petrochemicals and plastics sector rounding out the top three with RO 18.6 million.
