The
value of oil and gas exports in the Sultanate of Oman by the end of
December 2024 rose by 18.4% compared to the end of December 2023,
according to preliminary statistics issued by the National Center for
Statistics and Information.
The
statistics indicate that the total value of merchandise exports by the
end of December 2024 recorded OMR 24,230 million, an increase of 6.8%
over the same period of the previous year, when it was OMR 22,690
million, while the total value of merchandise imports to the Sultanate
of Oman amounted to OMR 16,713 million, an increase of 12.1% by the end
of December 2024 compared to the same period last year, which amounted
to OMR 14,910 million.
The increase
in the value of exports is mainly attributed to the increase in value of
the Sultanate of Oman's oil and gas exports to OMR 16,290 million, up
by 18.4% compared to the end of December 2023, which amounted to OMR
13,760 million.
Among oil and gas
exports by the end of December 2024, the value of the Sultanate of
Oman's crude oil exports amounted to OMR 9,908 million, recording an
increase of 0.8% over the same period of the previous year, and the
value of refined oil exports increased to OMR 3,854 million by 185.5%,
and the value of the Sultanate of Oman's liquefied natural gas exports
decreased to OMR 2,528 million by 1.9%, compared to the end of December
2023.
Statistics revealed a decrease
in the value of non-oil merchandise exports by 16.3% by the end of
December 2024, to reach OMR 6,232 million, compared to the end of
December 2023, when it recorded OMR 7,442 million. Mineral products had
the highest value of non-oil merchandise exports, amounting to OMR 1,781
million, a decrease of 36.8% over the same period in 2023, followed by
base metals and their products with OMR 1,320 million, a decrease of
0.1%, followed by Plastics & Rubber with an export value of OMR 996
million, an increase of 13.3%.
The
Sultanate of Oman's Products of Chemical exports dropped to OMR 804
million, reflecting a decline of 19.6%. Exports of live animals and
animal products also decreased by 11%, totaling OMR 350 million.
Meanwhile, exports of other products reached a value of OMR 981 million.
The
value of re-exports from the Sultanate of Oman increased to OMR 1,708
million, by 14.9% by the end of December 2024, compared to the end of
December 2023.
The value of
re-exports in transport equipment products recorded OMR 401 million, a
fall of 0.6%, and electrical machinery and equipment recorded OMR 376
million, a decrease of 5.4%. In foodstuff, beverage and tobacco, the
value of re-exports increased by 30.6% to record OMR 184 million, while
the re-export of mineral products recorded a value of OMR 120 million,
an increase of 21.3%. The value of re-exports of live animals and animal
products decreased to OMR 97 million, by 10.1%, while the value of
other products amounted to OMR 529 million.
In
contrast, mineral products had the largest value of merchandise imports
to the Sultanate of Oman, recording OMR 4,674 million by the end of
December 2024, an increase of 11.3%, followed by electrical machinery
and equipment with a value of OMR 2,934 million, recording a growth of
28.9% by the end of December 2024, followed by base metal and their
products with a value of OMR 1,605 million, a rise of 1.0%.
Imports
of products of chemicals recorded a value of OMR 1,516 million, an
increase of 3.1%, and transport equipment with OMR 1,516 million, an
increase of 13.5%.
The United Arab
Emirates topped trade exchange operations in non-oil exports by the end
of December 2024 with a value of OMR 1,046 million, an increase of 11%
from the end of December 2023, as well as trade exchange operations in
re-exports from the Sultanate of Oman, where the value of re-exports to
it amounted to OMR 569 million and the countries exporting to the
Sultanate of Oman, with a value of OMR 3,941 million.