Muscat: The trade exchange between Oman and Europe surged to RO 878.4 million by May 2024, up from RO 802.2 million in May 2023, showcasing the growing economic ties between the Sultanate and the continent.
Omani exports to Europe experienced a significant boost, climbing by an impressive 63.9% to RO 197.3 million, with the total weight of these exports reaching 444.5 million kilograms. This marks a substantial leap from the RO 120.4 million in exports recorded in May 2023, which had a total weight of 269.4 million kilograms.
On the other hand, Omani imports from Europe saw a slight dip, decreasing by 1.5% to RO 620.3 million. The total weight of these imports also dropped to 845.7 million kilograms, down from 940.4 million kilograms in the previous year.
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Re-exports from Oman to Europe also showed a healthy increase of 17.4%, totalling RO 60.8 million by May 2024, with a total weight of 6.1 million kilograms. This is up from RO 51.8 million in May 2023, which had a total weight of just over 2 million kilograms.
Germany led the charge as Oman’s top European trade partner, with Omani exports to Germany totalling RO 9.2 million and imports from the country reaching RO 88.6 million. Re-exports to Germany stood at RO 19.8 million.
Belgium followed as the second-largest European trade partner, with Omani exports totalling RO 6 million and imports valued at RO 100.9 million. Re-exports to Belgium amounted to RO 2.4 million.
