Total trade in goods and services (exports plus imports) between the Sultanate of Oman and the UK was approximately RO 475 million (£1.0 billion) in 2021, a decrease of 13.7 per cent or RO 77.5m (£163m) from the previous year, Britain’s Department for International Trade stated in its latest newsletter.
Of this £1.0 billion, total UK exports to the Sultanate of Oman amounted to £830 million last year, a decrease of 10.2 per cent or £94 million compared to the previous year. Total UK imports from Oman amounted to £193 million, declining 26.3 per cent or £69 million compared to corresponding figures for 2020.
The Sultanate of Oman was the UK’s 77th largest trading partner in 2021, accounting for 0.1 per cent of total UK trade, the report noted.
Of all UK exports to the Sultanate of Oman, £368 million (44.3 per cent) were goods and £462 million (55.7 per cent) were services, according to the UK government report. UK exports of goods to Oman decreased by 20.0 per cent or £92 million, while UK exports of services to Oman decreased by 0.4 per cent or £2 million in 2020. In essence, the UK reported a total trade surplus of £637 million with the Sultanate of Oman in 2021, compared to a trade surplus of £662 million in 2020.
The top 5 goods exported from the UK to the Sultanate of Oman last year were: Aircraft (£42.2m), Mechanical power generators (intermediate) (£40.9m), Cars (£35.0m), General industrial machinery (capital) (£24.3m) and Miscellaneous electrical goods (intermediate) (£22.3m).
The top 5 goods imported to the UK from Oman were: Aircraft (£38.1m), Scientific instruments (capital) (£11.3m), Medicinal & pharmaceutical products (£11.1m), Road vehicles other than cars (intermediate) (£10.0m), and Works of art (£9.7m).
Oman Observer is now on the WhatsApp channel. Click here
