Oman’s trade balance recorded a surplus of OMR3.658 billion ($9.50 billion) by the end of June 2024, with merchandise exports rising 6.7 percent year-on-year to OMR11.670 billion ($30.32 billion), according to preliminary statistics issued by the National Center for Statistics and Information.
The data also revealed that the total value of merchandise imports to Oman amounted to OMR8.12 billion, an increase of 10.8 percent by the end of June 2024 compared to the same period last year.
Mineral products topped the list of imports by value in June, recording OMR2.338 billion, an annual increase of 22.5 percent, followed by electrical machinery and equipment with a value of OMR1.324 billion, recording a growth of 20.2 percent.
The statistics agency attributed the increase in the value of Oman’s exports to the increase in the value of oil and gas exports to OMR7.228 billion, up by 5.3 percent annually.
The value of Oman’s crude oil exports amounted to OMR5.134 billion, recording an increase of 7.2 percent while the value of refined oil exports increased 12.8 percent to OMR842 million. Oman’s liquefied natural gas exports, however, decreased 5.7 percent to OMR1.252 billion.
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The statistics also revealed an increase in the value of Oman’s non-oil merchandise exports by 8.1 percent in June to OMR3.575 billion. The value of re-exports also increased 13.9 percent to OMR867 million.
In June, the UAE topped Oman’s trade exchange operations in non-oil exports with a value of OMR457 million, an increase of 8.9 percent. The UAE also topped the list of re-exports from Oman with a total value of OMR338 million and imports with a value of OMR1.902 billion.
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