Oman Reports Trade Surplus

The Sultanate of Oman’s trade balance during the first ten months in 2017 registered a surplus of OMR1.502 billion ($3.90 billion), compared with OMR1.023.1 billion during the same period in 2016.

The national center for statistics and information said in its bulletin that the merchandise exports, which include oil and gas, non-oil exports and re-exports registered an increase of 20.4% to stand at OMR10.196 billion compared to OMR8.469 billion during the same period in 2016, ONA reported.

The bulletin said that the value of commodity imports as of the end of October 2017 stood at OMR8.694 billion compared to OMR7.446 billion during the same period in 2016; constituting a rise of 16.8%.

NCSI figures also showed that the value of oil and gas exports increased by 26.9% during the first ten months of 2017 to stand at OMR5.965 billion, compared with the same period in 2016, which stood at OMR4.700 billion. The value of oil and gas exports during the first ten months in 2017 stood at OMR4.761 billion. The value of refined oil exports stood at OMR283.2 million. The value of the liquefied natural gas exports stood at OMR920.1 million.

The NCSI added that as of the end of October 2017, the value of non-oil exports rose by 28.2% to stand at OMR2.600 billion compared to OMR2.028 illion in 2016. Mineral products ranked the highest value of the merchandise exports that worth OMR679.8 million, compared with OMR451.4 million, comprising an increase by 50.6% till October 2017 compared to the same period in 2016.

The value of chemical industries exports stood at OMR674.200 million, a growth by 23.9% compared with OMR503.4 million during the same period in 2016. The value of regular minerals and mineral industries exports hit OMR526.8 million, comprising an increase by 35.4%. The value of rubber and plastic exports stood at OMR166.6 million; a rise by 40.6%.