The value of oil and gas exports in the Sultanate of Oman by the end of November 2024 increased by 19.7% compared to the end of November 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 November 2024 recorded OMR 22,225 million, an increase of 7.7% over the same period of the previous year, when it was OMR 20,636 million, while the total value of merchandise imports to the Sultanate of Oman amounted to OMR 15,087 million, an increase of 10.6% by the end of November 2024 compared to the same period last year, which amounted to OMR 13,639 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 14,994 million, up by 19.7% compared to the end of November 2023, which amounted to OMR 12,525 million.
Among oil & gas exports, the value of the Sultanate of Oman's crude oil exports amounted to OMR 9,125 million, recording an increase of 2.5% over the same period of the previous year, and the value of refined oil exports increased to OMR 3,573 million by 174.9%, and the value of the Sultanate of Oman's liquefied natural gas exports decreased to OMR 2,296 million by 1.1%, compared to the end of November 2023.
Statistics revealed a decrease in the value of non-oil merchandise exports by 16.6% by the end of November 2024, to reach OMR 5,642 million, compared to the end of November 2023, when it recorded OMR 6,768 million. Mineral products had the highest value of non-oil merchandise exports, amounting to OMR 1,616 million, a decrease of 35.2% over the same period in 2023, followed by base metals and their products with OMR 1,202 million, a decrease of 1.1%.
The value of the Sultanate of Oman's exports of plastics and rubber increased to OMR 896 million, an increase of 10.1%, followed by products of chemicals with an export value of OMR 725 million, a decrease of 22%.
The exports of live animals & animal products decrease by 12.3%, reaching OMR 320 million, and the value of exports of other products amounted to OMR 883 million.
The value of re-exports from the Sultanate of Oman increased to OMR 1,590 million, by 18.3% by the end of November 2024, compared to the end of November 2023.
The value of re-exports in transport equipment products recorded OMR 385 million, increased of 2.1%, and electrical machinery and equipment recorded OMR 346 million, decrease of 4.1%. In foodstuff, beverage and tobacco, the value of re-exports increased by 30.2% to record OMR 168 million, while the re-export of mineral products recorded a value of OMR 119 million, an increase of 43.1%. The value of re-exports of live animals and animal products decreased to OMR 89 million, by 13.3%, while the value of other products amounted to OMR 483 million.
In contrast, mineral products had the largest value of merchandise imports to the Sultanate of Oman, recording OMR 4,212 million by the end of November 2024, an increase of 9.5%, followed by electrical machinery and equipment with a value of OMR 2,606 million, recording a growth of 26% by the end of November 2024, followed by base metal and their products with a value of OMR 1,449 million, a decrease of 1.2%.
Imports of products of chemicals recorded a value of OMR 1,401 million, an increase of 2.7%, and transport equipment with OMR 1,354 million, an increase of 13.1%, while the value of other products amounted to OMR 4,065 million.
The United Arab Emirates topped trade exchange operations in non-oil exports by the end of November 2024 with a value of OMR 935 million, an increase of 8.1% from the end of November 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 526 million an increase of 13.1% from the end of November 2023, and the countries exporting to the Sultanate of Oman, with a value of OMR 3,600 million an decreased of 0.8% from the end of November 2023.