Oman Trade Surplus Surges

Oman’s trade surplus stood at OMR942.2 million ($2.44 billion) for the first nine months of 2016, according to the data of the National Center for Statistics and Information, NewsNow reported. The total value of the sultanate’s commodity exports stood at OMR7.5 billion till the end of September 2016, a decline of 28.2% compared to OMR10.4 billion for the same period in 2015. The sultanate’s commodity imports stood at OMR6.5 billion till the end of September 2016, a fall of 21.4% compared to the same period in 2015, when it was OMR8.3 billion. The total value of oil and gas exports had declined by 32.9% to OMR4.1 billion till the end of September 2016. The value of crude oil exports during the same period also stood at OMR3.5 billion. The value of refined oil exports stood at OMR117.5 million and the value of LNG exports stood at OMR521.3 million. The value of non-oil exports till the end of September 2016 was OMR1.8 billion, reflecting a decline of 24.1% compared to the same period in 2015, when it was OMR2.3 billion.