MUSCAT: The total value of Omani commodity exports surged to RO 22.225 billion, marking a 7.7% increase from RO 20.636 billion recorded in the previous year. Meanwhile, commodity imports also saw a 10.6% rise to RO 15.087 billion, up from RO 13.639 billion in 2023.

The jump in exports was primarily driven by a 19.7% increase in oil and gas exports, which reached RO 14.994 billion, compared to RO 12.525 billion in 2023.

Crude oil exports rose 2.5% to RO 9.125 billion.

Refined oil exports saw a massive 174.9% jump to RO 3.573 billion.

Liquefied natural gas (LNG) exports, however, dipped slightly by 1.1% to RO 2.296 billion.

Despite the overall positive trade figures, non-oil commodity exports fell by 16.6%, amounting to RO 5.642 billion compared to RO 6.768 billion in 2023.

Mineral product exports suffered a 35.2% drop to RO 1.616 billion.

Metal products exports declined 1.1% to RO 1.202 billion.

Plastic and rubber product exports increased 10.1% to RO 896 million.

Chemical industry exports fell 22% to RO 725 million.

Re-export activities in Oman climbed 18.3%, reaching RO 1.59 billion by November 2024. Key growth areas included:

Transport equipment: RO 385 million (+2.1%)
Food & beverage products: RO 168 million (+30.2%)
Mineral products: RO 119 million (+43.1%)
Oman’s commodity imports reached RO 15.087 billion, with mineral products accounting for the largest share at RO 4.212 billion (+9.5%).

Other key import categories included:

Machinery & electrical equipment: RO 2.606 billion (+26%)
Transportation equipment: RO 1.354 billion (+13.1%)
Chemical industry products: RO 1.401 billion (+2.7%)

The UAE remained Oman’s largest trade partner in non-oil exports, re-exports, and imports:

Non-oil exports to UAE: RO 935 million (+8.1%)
Re-exports to UAE: RO 526 million
Imports from UAE: RO 3.6 billion

Saudi Arabia and South Korea followed in non-oil exports, while China and Kuwait were among Oman’s largest import sources.