Oman reports a 2024 trade surplus increase, driven by oil exports despite non-oil exports decline.

Oman saw a trade surplus of RO 6.562 billion by October 2024, up 8.7% from the previous year. Oil and gas exports surged by 21.1%, while non-oil exports dropped by 16.2%. Imports increased by 11.4%, with the UAE and Saudi Arabia as key export partners and China and Kuwait as main import sources. The rise in refined oil exports contributed significantly to the surplus, despite a decline in LNG exports.

3 months ago
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