Oman Trade Surplus Surges

Oman recorded a surplus of OMR1.403 billion ($3.65 billion) in international trade at the end of September 2017, compared with OMR944.3 million during the same period of 2016, according to data released by the national center for statistics and information, ONA reported. The total value of exports from the sultanate by the end of September 2017 was OMR9.143 billion, an increase of 21.8% compared to the same period in 2016, where the total commodity exports was OMR7.505 billion. The import of goods increased by 18% to reach OMR7.740 billion, compared with OMR6.560 billion during the same period in 2016. The sultanate’s exports of oil and gas stood at OMR5.360 billion, an increase of 28.8% over OMR4.163 billion during the same period in 2016. The export of crude oil stood at OMR4.269 billion, 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% to OMR2.364 billion, compared with OMR1.799 billion during the same period in 2016.