Oman’s trade surplus surges to OMR1.4b
The total value of exports from Oman by the end of September 2017 was OMR9,143.2 million, an increase of 21.8 per cent over the same period of 2016.
MUSCAT: Oman recorded a surplus of OMR1,402.9 million in international trade at the end of September 2017, compared with OMR944.3 million during the same period in 2016, according to data released by the National Centre for Statistics and Information (NCSI).
The total value of exports from the Sultanate by the end of September 2017 was OMR9,143.2 million, an increase of 21.8 per cent compared to the same period in 2016, where the total commodity exports was OMR7,504.8 million.
The Sultanate’s import of goods increased by 18 per cent to reach OMR7,740.3 million, compared with OMR6,560.5 million during the same period in 2016.
The Sultanate’s exports of oil and gas stood at OMR5,360 million, an increase of 28.8 per cent over OMR4,162.9 million during the same period in 2016. The export of crude oil stood at OMR4,269.9 million, while the value of refined oil exports was OMR238.8 million. Liquefied natural gas exports were valued at OMR851.4 million.
The statistics show non-oil exports increased by 31.4 per cent to OMR2,364.7 million, compared with OMR1,799.6 million during the same period in 2016.
The export of mineral products recorded a 51.5 per cent growth at OMR640 million by the end of September 2017, compared with OMR422.5 million for the same period in 2016. This is followed by chemical products at OMR610.1 million, which is an increase of 41.9 per cent, compared to OMR430.1 million during the same period in 2016.
Exports of base metals and articles, and their products, increased by 35.8 per cent to reach OMR472.9 million. Similarly, exports of plastic and rubber products increased 43.5 per cent to reach OMR149.4 million.
However, exports of livestock and products recorded a fall of 7.6 per cent to reach OMR116.7 million. Electrical machinery equipment and accessories also dropped by 16.7 per cent to reach OMR69.4 million.
Similarly, the value of re-exports from the Sultanate declined by 8 per cent in September 2017 to reach OMR1,418.4 million from OMR1,542.3 million during the same period in 2016. The re-export of transport equipment fell by 42.1 per cent to OMR443.8 million from OMR767.2 million during the same period in 2016. The value of the re-export of mineral products dropped 7.7 per cent to reach OMR455.3 million. -