The Sultanate’s trade balance recorded a surplus of RO4.4 bn at the end of September 2019, compared to RO4.05bn at the end of September 2018, an increase of 7.78 per cent, according to preliminary statistics released by the National Centre for Statistics and Information (NCSI).
The value of merchandise exports by the end of September 2019 stood at RO11,105.7mn, compared to RO11,565.3mn, down by 4 per cent as against the corresponding period ending June 2018. The value of merchandise imports dropped by 9.7 per cent to RO6,785.7mn at the end of September 2019 from RO7,511.4mn in the corresponding period in 2018.
The Sultanate’s oil and gas exports stood at RO7,618.6mn, down 0.6 per cent by the end of September 2018, registering RO7,664.5mn.
The value of refined oil exports amounted to RO819.6mn while liquefied natural gas (LNG) exports stood at RO1,291.5mn. The statistics showed that the Sultanate’s export of non-oil products decreased by 4 per cent to RO2,469.7mn by the end of September in 2019, compared to RO2,573.5mn in the corresponding period of last year.
Chemical industries products constituted the highest value among merchandise exports, as they stood at RO685.2mn, followed by ordinary metal products at RO630mn, mineral products at RO261.7mn, plastic and rubber products at 164.2 million, livestock and their products at RO143.7mn and exports of other products at RO585mn.
The value of re-exports from the Sultanate dropped by 23.4 per cent by the end of September 2019 to RO1,017.3mn, compared to RO1,327.3mn during the corresponding period in 2018.
The value of re-exports in transport machinery dropped by 14.1 per cent to RO296.6mn, while the value of products of machinery, electrical equipment and appliances decreased by 6.9 per cent to RO291.1mn. The value of re-exports of metal products dropped by 81.8 per cent to RO59.5mn while chemical industries products re-exports came down by 18 per cent, registering RO53.5mn. Re-export value of foodstuff and beverage industries rose by 47.7 per cent to RO171.1mn and re-export value of other products stood at RO235.6mn.
The value of merchandise imports of the Sultanate dropped by 23.7 per cent in the sector of machinery and electrical appliances and equipment, registering RO1,520.8mn by the end of September 2019, compared to the corresponding period in 2018.
The value of imports of ordinary metals came down by 15.7 per cent from RO1,062.2mn. Transport equipment imports registered a 35.8 per cent rise to RO737.8mn from RO543.4mn by the end of September 2018. Imports of chemical industries products went up slightly by 0.4 per cent to RO584.9mn.
The value of the Sultanate’s imports of mineral products declined by 38.9 per cent to RO410.3mn while the value of the Sultanate’s foodstuff and beverage industries products stood at RO408.1mn. Imports of livestock products stood at RO395.3mn while imports of plastic and rubber products stood at RO328.6mn. Imports of other products accounted for RO1,337.7mn.
Kingdom of Saudi Arabia topped the trade exchange with the Sultanate in non-oil products, while the United Arab Emirates (UAE) topped the trade exchanges in terms of imports and re-exports from the Sultanate.
The Sultanate’s non-oil exports to the Kingdom of Saudi Arabia registered RO461.2mn at the end of September 2019, up by 28.7 per cent compared to the corresponding period of last year.
Non-oil exports to the UAE stood at RO451.2mn followed by India at RO229.9mn, Qatar at RO171.4mn and China at RO171.1mn.
The share of the UAE from re-export transactions stood at RO295.9mn, followed by Qatar at RO207mn, Iran at RO169.8mn, the United States at RO32mn and Somalia at RO30.2mn.
The UAE also topped the list of countries exporting to the Sultanate. Its imports to Oman by the end of September 2019 stood at RO2,754.8mn, followed by China at RO464mn, free zones at RO378.4mn, India at RO343.7mn and Brazil at RO280.9mn.
Marine border outlets accounted for the highest value of total merchandise imports to the Sultanate, registering RO3,824.1mn by September 2019, followed by land border checkpoints, which registered a value of RO1,960.2mn and air outlets at RO1,001.4mn.
