Merchandise exports of Oman surge by 10%

MUSCAT, DEC 4

Oman’s merchandise exports recorded a robust 10 per cent growth, reaching RO 18.241 billion by the end of September 2024, compared to RO 16.590 billion during the same period in 2023, according to data from the National Centre for Statistics and Information (NCSI).

This growth was primarily driven by oil and gas exports, which surged to RO 12.406 billion, reflecting a remarkable 21.5 per cent increase. Meanwhile, non-oil exports declined by 14.1 per cent, amounting to RO 4.534 billion, whereas re-exports demonstrated impressive momentum, rising by 18.1 per cent to RO 1.3 billion.

Merchandise imports also experienced a significant rise, increasing by 10.9 per cent to total RO 12.178 billion by the end of September 2024, compared to RO 10.979 billion in the same period last year.

The United Arab Emirates remained Oman’s leading trade partner for non-oil exports, with a value of RO 943 million, reflecting a 14.1 per cent increase. Saudi Arabia followed with RO 602 million, although this represented a 22.3 per cent decline.

For imports, the UAE continued to dominate with RO 2.922 billion. Imports from China, however, stood out with a remarkable 63.1 per cent surge, totaling RO 1.294 billion. Additionally, Kuwait recorded the highest percentage increase, with imports soaring by 248.3 per cent to reach RO 1.230 billion.