Muscat: According to the National Centre for Statistics and Information, mineral products led the charge, with export values soaring to RO 1.304 billion, a 21.5% jump from last year’s figures. Metal products followed, contributing RO 671 million, marking a 7.3% rise. Plastic and rubber products saw an 11.5% boost, reaching RO 473 million, while other product categories added RO 437 million to the total non-oil exports.
This non-oil export boost is anticipated to account for 22% of Oman’s GDP by the end of the second quarter of 2024, equating to RO 5.4 billion of the total GDP, which is projected to hit RO 21.9 billion.
Among Oman’s top trading partners, South Korea experienced the highest increase in Omani non-oil imports, up by 1,154.4%, largely driven by industrial product demand. The UAE and Saudi Arabia were also significant markets, importing RO 457 million and RO 402 million worth of Omani goods, respectively.
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Currently, non-oil products represent 36% of Oman’s total exports.
