MUSCAT: The total insured sales of Omani exports and domestic sales increased by 179 per cent to OMR 153.404 million in the first half of 2022.
In the same period in 2021, the Sultanate recorded insured sales of OMR 55.032.
According to a statement from Credit Oman, the majority of the value of insured exports from the Sultanate of Oman to other countries was OMR9 3.630 million, up 183 per cent from OMR 33.079 million during the same period the previous year.
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A total of OMR 59.773 million in insured local sales were made, a 172 per cent increase over OMR 21.952 million in insured local sales made during the same period in 2021.
In order to protect exporters and local vendors from commercial and non-commercial risks related to the bankruptcy or insolvency of buyers or their failure to make payments after accepting the goods that comply with the terms of the export contract, Credit Oman said it is extending its ongoing efforts to promote exports and Omani products reaching international markets.
According to the company’s statement, Credit Oman also helps to grow the amount of business that exporters and local vendors do by increasing production and exports.
