Oman's trade surplus drops 40% to RO1.85bn

07/07/2025 06:25 AST

Oman's trade surplus fell sharply by 40.4% to RO1.849bn by the end of April this year, compared to RO3.1bn recorded during the same period in 2024, according to preliminary data released by the National Centre for Statistics and Information (NCSI).

The decline comes amid a 9.3% drop in the total value of commodity exports, which stood at RO7.516bn till April 2025, compared to RO8.289bn during the same period last year.

The drop in exports is mainly attributed to a 15% decrease in oil and gas shipments, which totalled RO4.872bn by April 2025, down from RO5.730bn in 2024.

Crude oil exports declined 16.2% to RO2.911bn, while LNG exports fell 15.3% to RO752mn. Refined oil exports also dropped 11.8%, reaching RO1.209bn.

Non-oil exports
In contrast, non-oil commodity exports rose 9% year-on-year, reaching RO2.183bn by the end of April 2025, compared to RO2.002bn in the previous year.

Live animals and animal products topped the list, increasing 9.7% to RO133mn. Chemical and related industry products followed, growing 6.3% to RO268mn. Base metals and their products rose 5.5% to RO 471mn, while mineral product exports grew 2.7% to RO589mn. Exports of plastics and rubber inched up by 0.6% to RO312mn. Exports of other products saw strong growth of 37.1%, reaching RO410mn in April this year from RO299mn in April 2024.

Re-exports decline
The total value of re-exports declined by 17.1%, falling to RO462mn from RO557mn during the same period in 2024.

Re-exported metal products plummeted by 55.5% to RO23mn, while transport equipment dropped 40.9% to RO94mn. Re-exports of precious metals and stones declined 19.8% to RO27mn.

Machinery, electrical appliances and sound equipment re-exports dropped 3.5% to RO128mn. Other re-exports slipped 1.9% to RO131mn. However, food, beverage, and liquid product re-exports rose significantly by 24.2% to RO60mn.

Imports rise 9.2%
The total value of merchandise imports to Oman increased 9.2%, reaching RO5.667bn by the end of April 2025, up from RO5.189bn during the same period in 2024.

Mineral products led the list of imports at RO1.521bn, rising 1.9% from the previous year. Machinery, electrical appliances, and related devices followed at RO975mn, growing by 16.5%.

Transport equipment imports surged 21.3% to RO562mn. Chemical industry products reached RO544mn, up 12%, while base metals and their products increased 8.9% to RO539mn. Imports of other products totalled RO1.526bn.

The United Arab Emirates (UAE) remained Oman's top non-oil trading partner, with exports to the UAE rising 24.9% to RO390mn. The UAE also led in re-exports from Oman (RO171mn) and remained the largest source of imports at RO1.283bn.

Muscat Daily