[Oman-L] Oman's foreign trade witnesses 64.1 per cent rise

[Joachim Duester]

Oman's foreign trade witnesses 64.1 % rise   
Source: Oman Daily Observer, 21 February 2009

The statistical bulletin issued by the National Economy Ministry has shown that the Sultanate’s foreign trade witnessed a 64.1 per cent rise in the total value of commodity exports during the first ten months of the last year, compared to the same period in 2007.

The total value of commodity exports amounted to RO 1,2401.8 million as at the end of October 2008, against RO 7,556.5 million during the corresponding period in 2007. This rise was attributed to a 63 per cent increase in oil exports commodities, which amounted to RO 9,413.9 million at the end of October 2008, compared to RO 5,774.6 million during the corresponding period in 2007.

The Sultanate’s non-oil exports rose by 73.5 per cent as at the end of October 2008 to RO 1,692.4 million compared to RO 975.3 million during the corresponding period in 2007, the bulletin said. Re-export trade also rose by 60.6 per cent during the first ten months of the last year to RO 1,295.6 million, compared to RO 806.6 million during the corresponding period in 2007.

The UAE topped the countries importing Omani non-oil exports as it imported RO 553.5 million of commodities as at the end of October 2008 followed by India with RO 214.6 million followed by the Kingdom of Saudi Arabia with RO 134.8 million.

The UAE also topped the countries importing Omani exports “re-export” as it imported, as at the end of October 2008, RO 8,08.2 million worth commodities followed by the Islamic Republic of Iran with RO 136.4 million and the Ukraine with RO 29.6 million.

The commodities imports also recorded a 47.4 per cent increase to hit RO 7,338.9 million as of the end of October 2008 compared to RO 4,980.1 million during the corresponding period in 2007, the bulletin said.

The United Arab Emirates also topped the countries exporting to the Sultanate, as the latter imported RO 1,979.6 million of commodities from the former during the first ten months of 2008 followed by Japan with RO 1,094.9 million and the USA with RO 419.4 million.