Oman records trade surplus of OMR1.849bn

Muscat: The Sultanate of Oman's trade balance recorded a surplus of OMR1.849 billion by the end of April 2025, compared to a surplus of OMR3.1 billion during the same period in 2024, marking a 40.4 percent decline.

Preliminary statistics from the National Centre for Statistics and Information (NCSI) showed a 9.3 percent decrease in the total value of merchandise exports by the end of April 2025, reaching OMR7.516 billion, down from OMR8.289 billion in the same period last year.

This decline was primarily driven by a 15 percent drop in Oman’s oil and gas exports, which amounted to OMR4.872 billion by April 2025, compared to OMR5.730 billion in the corresponding period of 2024.

Crude oil exports fell by 16.2 percent to OMR2.911 billion, while liquefied natural gas (LNG) exports decreased by 15.3 percent to OMR752 million. Refined petroleum exports also declined by 11.8 percent to OMR1.209 billion.

In contrast, non-oil merchandise exports rose by 9 percent, reaching OMR2.183 billion by April 2025, up from OMR2.002 billion in the same period last year.

Live animals and animal products led non-oil exports in value, growing by 9.7 percent to OMR133 million. Chemical and related industry products ranked second, rising by 6.3 percent to OMR268 million.

Exports of base metals and related products increased by 5.5 percent to OMR471 million, while metal product exports grew by 2.7 percent to OMR589 million. Plastic and rubber product exports saw a marginal 0.6 percent rise to OMR312 million, while other products surged by 37.1 percent to OMR410 million.

Re-exports declined by 17.1 percent to OMR462 million, with notable drops in metal products (-55.5%), transport equipment (-40.9%), and precious metals/gemstones (-19.8%). However, re-exports of food and beverage products rose by 24.2 percent to OMR60 million.

Meanwhile, total merchandise imports increased by 9.2 percent to OMR5.667 billion. Metal products topped imports at OMR1.521 billion (+1.9%), followed by electrical machinery (OMR975 million, +16.5%) and transport equipment (OMR562 million, +21.3%).

The UAE led Oman’s non-oil export destinations with OMR390 million (+24.9%) and re-exports (OMR171 million). Saudi Arabia ranked second in non-oil exports (OMR362 million), followed by India (OMR227 million).

As far as imports are concerned, the UAE remained the top supplier (OMR1.283 billion), followed by Kuwait (OMR623 million) and China (OMR568 million).