Oman's trade surplus falls 38% to RO2.4bn in first 5 months of 2025
Preliminary statistics issued by the National Centre for Statistics and Information (NCSI) indicated a 9.6% decline in the total value of commodity exports, which fell to RO9.639bn by the end of May 2025, down from RO10.659bn during the corresponding period in 2024.
The decrease is primarily attributed to a 15.2% drop in oil and gas exports, which totalled RO6.315bn by the end of May 2025, compared to RO7.444bn in the same period of 2024.
In contrast, non-oil commodity exports saw a notable 7.2% increase, reaching RO2.701bn, up from RO2.521bn during the same period in 2024.
However, re-exports from Oman recorded a 10.3% decline, amounting to RO623mn by the end of May 2025, compared to RO695mn in the corresponding period of 2024.
The data also revealed a 7.7% rise in the total value of commodity imports into Oman, which reached RO7.185bn by the end of May 2025, up from RO6.670bn in the same period of 2024.
The United Arab Emirates topped the list of destinations for Oman's non-oil exports by the end of May 2025, with exports totalling RO485mn – a 22.9% increase compared to the same period in 2024. The UAE also remained the leading destination for Omani re-exports, valued at RO248mn, and was the top source of imports into Oman, with goods worth RO1.651bn.
Saudi Arabia ranked second for non-oil exports, receiving goods worth RO451mn, followed by India at RO280mn.
In terms of re-exports, Iran came second with RO109mn, followed by Saudi Arabia with RO45mn.
As for countries exporting to Oman, Kuwait ranked second with exports valued at RO731mn, followed by the People's Republic of China at RO698mn.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Muscat Daily
3 days ago
- Muscat Daily
Oman's trade surplus falls 38% to RO2.4bn in first 5 months of 2025
Muscat – Oman's trade balance recorded a surplus of RO2.454bn by the end of May 2025. This represents a sharp 38.5% decrease compared to the same period in 2024, when the surplus stood at RO3.989bn. Preliminary statistics issued by the National Centre for Statistics and Information (NCSI) indicated a 9.6% decline in the total value of commodity exports, which fell to RO9.639bn by the end of May 2025, down from RO10.659bn during the corresponding period in 2024. The decrease is primarily attributed to a 15.2% drop in oil and gas exports, which totalled RO6.315bn by the end of May 2025, compared to RO7.444bn in the same period of 2024. In contrast, non-oil commodity exports saw a notable 7.2% increase, reaching RO2.701bn, up from RO2.521bn during the same period in 2024. However, re-exports from Oman recorded a 10.3% decline, amounting to RO623mn by the end of May 2025, compared to RO695mn in the corresponding period of 2024. The data also revealed a 7.7% rise in the total value of commodity imports into Oman, which reached RO7.185bn by the end of May 2025, up from RO6.670bn in the same period of 2024. The United Arab Emirates topped the list of destinations for Oman's non-oil exports by the end of May 2025, with exports totalling RO485mn – a 22.9% increase compared to the same period in 2024. The UAE also remained the leading destination for Omani re-exports, valued at RO248mn, and was the top source of imports into Oman, with goods worth RO1.651bn. Saudi Arabia ranked second for non-oil exports, receiving goods worth RO451mn, followed by India at RO280mn. In terms of re-exports, Iran came second with RO109mn, followed by Saudi Arabia with RO45mn. As for countries exporting to Oman, Kuwait ranked second with exports valued at RO731mn, followed by the People's Republic of China at RO698mn.
Observer
4 days ago
- Observer
Oman's FDI: A gateway for the region's prosperity
Oman is moving forward with confidence in its economic journey—one that is full of promise, transformation, and global opportunity. At the heart of this transformation is foreign direct investment, better known as FDI. For many, FDI might sound like just financial inflows from abroad, but it's much more than that. It brings innovation, advanced technologies, international expertise, and, most importantly, jobs. Together, these elements enable nations like Oman to transition from traditional oil dependence toward a diversified, future-ready economy. The world economy, however, hasn't made this journey easy. According to the World Bank's Global Economic Prospects published in June 2025, global economic growth is projected to decelerate to 2.3% this year—the lowest pace since 2008 outside of full-blown recessions. At the same time, global FDI flows have been under strain due to rising trade barriers, geopolitical tensions, and a general sense of economic uncertainty. The World Bank notes that FDI inflows into emerging and developing economies have now dropped to less than half their 2008 peak and will likely remain subdued unless governments introduce smart reforms. Amid this difficult global environment, the Middle East has shown remarkable resilience, and Oman has become a standout success story. According to the FDI Trends Report—July 2025 by the Public Authority for Special Economic Zones and Free Zones, greenfield FDI capital expenditure in the Middle East rose by 30.7% from January to May 2025 compared to the same period in 2024. Project numbers also went up by 14.5%, thanks to long-term planning, strategic diversification, and investor-focused policies across the region. Oman has emerged as a regional leader in greenfield FDI growth. The same report highlights that Oman witnessed a staggering 4,402% increase in greenfield FDI capital spending during the first five months of 2025, alongside a 36% increase in the number of investment projects. This growth has been driven by strategic investments in renewable energy, ICT, real estate, and the expansion of special economic zones. Oman now ranks first in the region in terms of year-on-year growth in FDI, showing that the country is fast becoming a serious investment destination in the Gulf. These growth numbers are not just impressive—they're real proof of investor trust. According to the National Centre for Statistics and Information (NCSI), Oman's total FDI stock reached $79.6 billion (equivalent to RO 30.6 billion) by the end of the first quarter of 2025, marking a 20.6% increase from the same period last year. While the oil and gas sector continues to take the lion's share—roughly $64.2 billion—other sectors are quickly catching up. Manufacturing has attracted $7.1 billion in foreign investment, and financial services have brought in $3.4 billion, all pointing toward meaningful economic diversification. Oman is also drawing interest from global partners. South Korea leads the way, investing over $3.45 billion in Oman during early 2025. This includes a major project by LUPRO—a green ammonia facility in Duqm, built in partnership with Bait Muscat. This facility is expected to produce 5 million tonnes of green ammonia and is supported by a 200 MW power plant and a 2 GW renewable energy complex. China has also made its mark with a $564 million solar cell manufacturing plant in Sohar Freezone. Egypt, too, has committed to projects in ICT and manufacturing, making Oman a preferred destination across Asia and Africa. All this progress is no coincidence—it is driven by vision and leadership. Oman Vision 2040, the country's blueprint for economic and social transformation, is guiding this shift. This vision aims to reduce the contribution of oil and gas to just 8.4% of GDP by 2040 and boost the share of non-oil sectors to 91.6%. Other goals include producing 1 million tonnes of green hydrogen by 2030 and generating 35% to 39% of electricity from renewable sources by 2040. These are not just numbers; they reflect Oman's strong commitment to sustainable growth and future-ready industries. To attract more investors, Oman has introduced a host of reforms. The Foreign Capital Investment Law, introduced in 2019, allows 100% foreign ownership in most sectors and removes minimum capital requirements. There are also generous tax breaks in free zones, zero VAT, duty-free imports, and more relaxed Omanisation policies within special zones. Platforms like 'Invest in Oman' make it easy for investors to set up by offering a smooth and transparent approval process. Another crucial piece of the puzzle is talent. Attracting the right kind of FDI requires skilled professionals—especially in government agencies that promote investment. These professionals must understand not just local rules and sectors but also global market trends, international finance, taxation, logistics, and real estate. Soft skills are equally important. The ability to market Oman's opportunities, build relationships, and negotiate deals is essential for success. Recognising this, Oman is investing in its human capital. Investment promotion agencies like 'Invest Oman' are working to develop teams that combine technical expertise with strong interpersonal skills. According to experts cited in the FDI Trends Report, investment promotion today is not just about facts and figures—it's about communication, collaboration, and creativity. To support this, Oman is hosting a major training initiative: the FDI Executive Program in FDI, SEZs & Investment Promotion. Scheduled for September 16–18, 2025, in Salalah, this program is being organized by Smart Investment & Consultancy Gateway (SIG) and NextZone. The sessions will cover global investment trends, strategic promotion, and how to use digital tools and AI for targeting the right investors. In the end, FDI extends beyond capital—it encompasses knowledge transfer, partnerships, and innovation. For Oman, it means more than economic growth. It's about creating clean energy, new industries, and job opportunities for future generations. It's about placing Oman firmly on the global investment map—while holding true to its heritage, values, and vision. The world is changing fast, but Oman is not merely adapting to global trends—it is shaping them with clarity of vision and strategic intent.
Times of Oman
4 days ago
- Times of Oman
Oman's total refinery production rises by 1.6%
Muscat: Oman's total refinery production saw a growth of 1.6 percent by the end of June 2025. However, MOGAS (motor gasoline) production in June 2025 saw a decrease of 17.1 percent compared to the previous month. Preliminary statistics from the National Centre for Statistics and Information (NCSI) indicate that the production of Regular MOGAS (91) increased by 11.5 percent, reaching 8.6595 million barrels by the end of June 2025, compared to 7.7679 million barrels during the same period in 2024. Sales also rose by 2 percent to 6.9645 million barrels, compared to 6.8287 million barrels by the end of June 2024. Exports of Regular MOGAS increased by 6.1 percent to 1.4946 million barrels, up from 1.4084 million barrels by the end of June 2024. In contrast, production of MOGAS (95) saw a 2.2 percent decrease, reaching 6.4184 million barrels compared to 6.5595 million barrels during the same period in 2024. However, its sales increased slightly by 0.9 percent to 6.4696 million barrels, up from 6.4124 million barrels by the end of June 2024. Exports of MOGAS-95 achieved a 20.6 percent growth, reaching 690,700 barrels compared to 572,800 barrels in the same period last year. The production of Gas Oil (Diesel) recorded a 3.8 percent increase, reaching 16.6214 million barrels, compared to 16.0166 million barrels by the end of June 2024. Sales also rose by 5.8 percent to 7.2137 million barrels, compared to 6.8202 million barrels in the same period last year. However, its exports decreased by 5.5 percent, registering 8.5506 million barrels compared to 9.0521 million barrels by the end of June 2024. Jet fuel production experienced a 13.1 percent decrease, registering 4.9458 million barrels compared to 5.6923 million barrels for the same period in 2024. Its sales also declined by 6.4 percent to 1.8676 million barrels, compared to 1.9953 million barrels last year. Exports decreased by 16.3 percent, reaching 3.019 million barrels compared to 3.605 million barrels by the end of June 2024. As for Liquefied Petroleum Gas (LPG) production, it saw a slight increase of 0.2 percent, reaching 3.7645 million barrels, compared to 3.7556 million barrels during the same period in 2024. Its sales rose by 22.2 percent to 1.9444 million barrels, against 1.5912 million barrels for the same period in 2024, while its exports decreased by 60.3 percent, reaching 111,500 barrels compared to 280,700 barrels by the end of June 2024. Regarding petrochemicals, statistics showed that Benzene production increased by 3.1 percent, registering 86,000 metric tonnes, compared to 83,500 metric tonnes for the same period in 2024. Paraxylene production achieved a 6.8 percent growth, registering 283,000 metric tonnes by the end of June 2025, against 265,100 metric tonnes by the end of June 2024. Polypropylene recorded the highest production growth rate at 73.4 percent, reaching 176,600 metric tonnes compared to 101,800 metric tonnes during the same period last year. Despite this, its sales decreased by 9.2 percent, registering 15,400 metric tonnes compared to 17,000 metric tonnes in the same period last year. In terms of exports, Benzene exports increased by 0.4 percent by the end of June 2025, registering 81,900 metric tonnes compared to 81,500 metric tonnes by the end of June 2024. Paraxylene exports recorded significant growth of 22.8 percent, reaching 312,700 metric tonnes compared to 254,700 metric tonnes in the same period last year. Polypropylene exports also showed remarkable growth of 61.6 percent, reaching 131,200 metric tonnes compared to 81,200 metric tonnes in the same period of 2024.
