World Economy

Oman Exports Rise 27 Percent

Oman Exports Rise 27 PercentOman Exports Rise 27 Percent

Oman recorded a robust 27.2% growth in total export revenue in the first quarter of 2018 compared with the same period last year, according to the National Center for Statistics and Information, ONA reported. The total export revenue for the first quarter of this year hit OMR3.76 billion ($9.77 billion), compared with OMR2.96 billion in the first quarter of 2017. The value of oil and gas exports stood at OMR2.36 billion, equivalent to almost 63% of the total value of commodity exports in the first quarter of 2018, thanks to an increase in the price of Omani crude oil. Of the total exports from the oil and gas sector, OMR1.75 billion was from oil, while liquefied natural gas exports accounted for OMR394.3 million during the period, revealed the NCSI report. The sultanate’s total non-oil exports also rose by 28.8% to OMR968.6 million from January to March 2018, from OMR751.8 million during the same period of the previous year. Major non-oil exports include live animals and their produce, mineral products, chemical products, rubber and plastics, and base metals.

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