The value of oil and gas exports in the Sultanate of Oman by the end of September 2024 increase by 22% compared to the end of September 2023, according to preliminary statistics issued by the National Centre for Statistics and Information.
The statistics indicate that the total value of merchandise exports by the end of September 2024 recorded OMR 18,241 million, an increase of 10% over the same period of the previous year, when it was OMR 16,590 million, while the total value of merchandise imports to the Sultanate of Oman amounted to OMR 12,178 million, an increase of 10.9% by the end of September 2024 compared to the same period last year, which amounted to OMR 10,979 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 12,406 million, up by 21.5% compared to the end of September 2023, which amounted to OMR 10,213 million. Among oil and gas exports by the end of September 2024, the value of the Sultanate of Oman's crude oil exports amounted to OMR 7,610 million, recording an increase of 7.6% over the same period of the previous year, and the value of refined oil exports increased to OMR 2,975 million by 151.6%, and the value of the Sultanate of Oman's liquefied natural gas exports decreased to OMR 1,822 million by 7%, compared to the end of September 2023.
Statistics revealed a decrease in the value of non-oil merchandise exports by 14.1% by the end of September 2024, to reach OMR 4,534 million, compared to the end of September 2023, when it recorded OMR 5,276 million. Mineral products had the highest value of non-oil merchandise exports, amounting to OMR 1,307 million, a decrease of 27.3% over the same period in 2023, followed by base metals and their products with OMR 991 million, an increase of 0.4%, followed by products of plastics and rubber increased to OMR 720 million, an increase of 6.9%.
The value of the Sultanate of Oman's exports of chemicals with an export value of OMR 575 million, a decrease of 25.1% and exports of live animals and animal products fell by 16.1%, reaching OMR 246 million, and the value of exports of other products amounted to OMR 697 million.
The value of re-exports from the Sultanate of Oman increased to OMR 1,300 million, by 18.1% by the end of September 2024, compared to the end of September 2023.
The value of re-exports in transport equipment products recorded OMR 316 million, an increase of 3.6%, and electrical machinery and equipment recorded OMR 273 million, a decrease of 8.8%. In foodstuff, beverage and tobacco, the value of re-exports increased by 32% to record OMR 133 million, while the re-export of mineral products recorded a value of OMR 108 million, an increase of 51%. The value of re-exports of live animals and animal products decreased to OMR 75 million, by 16%, while the value of other products amounted to OMR 396 million.
In contrast, mineral products had the largest value of merchandise imports to the Sultanate of Oman, recording OMR 3,470 million by the end of September 2024, an increase of 16.4%, followed by electrical machinery and equipment with a value of OMR 2,089 million, recording a growth of 24.7% by the end of September 2024, followed by products of chemicals recorded a value of OMR 1,146 million, an increase of 1.6%, then base metal and their products with a value of OMR 1,134 million, a decrease of 5.4%.
Then the base metals and their products with a value of OMR 1,134 million, a decrease of 5.4%.
The value of Imports of transport equipment with OMR 1,072 million, an increase of 9.3%.
Imports of transport equipment with OMR 1,072 million, an increase of 9.3%.
The United Arab Emirates topped trade exchange operations in non-oil exports by the end of September 2024 with a value of OMR 737 million, a decrease of 14.1% from the end of September 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 445 million, an increase of 15.7% and the countries exporting to the Sultanate of Oman, with a value of OMR 2,922 million, an decrease of 1.3%.