Muscat: According to preliminary data from the National Centre for Statistics and Information (NCSI), the rise in exports was driven by oil and gas, which jumped 18.4% to RO 16.29 billion. Meanwhile, commodity imports increased by 12.1% to RO 16.71 billion, reflecting higher demand across multiple sectors.
Among petroleum exports:
- Crude oil exports rose 0.8% to RO 9.91 billion
- Refined oil exports soared 185.5% to RO 3.85 billion
- Liquefied natural gas (LNG) exports declined 1.9% to RO 2.53 billion
Despite the strong energy sector performance, non-oil commodity exports fell 16.3% to RO 6.23 billion, with notable declines in mineral products (-36.8%) and chemical exports (-19.6%).
Read More
- Gold rebounds above $4,600 as markets await fed signals
- Oil prices extend losses as hopes rise over Hormuz talks
- Oman oil price drops by 5.45 US dollars
- Oman’s manufacturing sector targets RO 10.7 billion contribution by 2040
- Asia-Pacific airlines including India may keep fares high despite easing jet fuel prices as demand stays resilient: S&P
Re-export activity saw a 14.9% increase, reaching RO 1.71 billion, led by:
- Food, beverages, and liquids (+30.6%)
- Mineral products (+21.3%)
However, transport equipment (-0.6%) and machinery (-5.4%) saw slight declines.
The United Arab Emirates remained Oman’s top non-oil trade partner, importing RO 1.46 billion worth of goods, an 11% increase from 2023.
- Saudi Arabia ranked second with RO 849 million
- India followed with RO 659 million
In re-exports, Iran (RO 359 million) and Kuwait (RO 117 million) were the top destinations, while in imports, China ranked second (RO 1.83 billion), followed by Kuwait (RO 1.69 billion).
Oman’s largest import category remained mineral products, valued at RO 4.67 billion (+11.3%), followed by:
- Machinery & electrical equipment (RO 2.93 billion, +28.9%)
- Transport equipment (RO 1.52 billion, +13.5%)
