Oman Records RO 2.6 Billion Trade Surplus in March 2024

Oman, 10 June, 2024 : The Sultanate of Oman recorded a trade surplus of RO 2.61 billion at the end of March 2024, a notable increase from RO 1.93 billion during the same period in 2023, according to preliminary data from the National Centre for Statistics and Information (NCSI).

Exports surged by 16.7% to RO 6.50 billion, driven mainly by a 3.1% increase in oil and gas exports to RO 3.72 billion. Crude oil exports reached RO 2.70 billion, up by 13.3%, while refined oil exports decreased to RO 363 million and liquefied natural gas exports dropped to RO 682 million.

Non-oil merchandise exports saw a substantial rise of 44.9% to RO 2.33 billion, with mineral products leading the growth at RO 1.16 billion. Re-exports also increased by 26.8% to RO 442 million.

Imports climbed by 6.9% to RO 3.89 billion, with mineral products constituting the largest portion at RO 1.097 billion, followed by electrical machinery & equipment at RO 605 million.

Saudi Arabia led non-oil export transactions, reaching RO 238 million, while the UAE topped re-export transactions from Oman at RO 175 million. Additionally, the UAE ranked first in countries exporting to Oman, with a value of RO 982 million.

These figures reflect Oman's robust trade performance, driven by both oil and non-oil sectors, amidst a challenging global economic landscape.

Source : www.omannews.gov.om