The total imports of vehicle spare parts by Oman amounted to RO 105 million, 459 thousand, and 262 as of November 2023, reflecting a substantial drop of 29.2 per cent from the figures recorded in the corresponding period in 2022, which stood at RO 148 million, 859 thousand, and 428.

Leading the list of countries contributing to this decline is the United Arab Emirates, with a reduced import value of RO 42 million, 672 thousand, and 4, a 25 per cent decrease compared to November 2022. This shift in trade dynamics prompts a closer examination of the factors influencing this downturn and its broader economic implications.

Statistical insights reveal that the quantity of vehicle spare parts brought into Oman by November 2023 amounted to approximately 20 million, 433 thousand, 29 pieces, weighing 25 million, 212 thousand, and 557 kilograms. These figures show a notable decrease from the previous year, which saw 29 million, 708 thousand, and 651 pieces, with a total weight of 32 million, 593 thousand, and 452 kilograms imported.

On the other side, the total value of Oman's exports of vehicle spare parts recorded a 15.2 per cent decrease at the end of November 2023, standing at RO 86 million, 623 thousand, and 519 compared to RO 102 million, 203 thousand, and 191 in 2022. Once again, the United Arab Emirates emerged as a key player in this realm, with export values decreasing by 28 per cent, totaling RO 36 million, 899 thousand, and 49.

The number of vehicle spare parts exported reached around 13 million, 221 thousand, and 298 pieces, weighing 37 million, 164 thousand, and 43 kilograms by November 2023. This reflects a decline from the previous year's figures, which showed 17 million, 578 thousand, and 303 pieces, with a total weight of 33 million, 933 thousand, and 794 kilograms.

In the broader context, the report notes that the total number of institutions and establishments selling motor vehicle spare parts in Oman stood at 2,139 institutions and 5,123 establishments by the end of 2022, emphasizing the sector's significance within the country's economic landscape.