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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Exports surge 30 pc till Aug

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Muscat: The Sultanate recorded a robust 30 per cent growth in total export revenue in the first eight months of 2018 compared to the same period last year, according to the latest statistics released by National Centre for Statistics and Information (NCSI). The total export revenue for January till August surged to RO 10.5 billion, compared to RO 8.1 billion for the same period of 2017. The value of oil and gas exports stood at RO 6.76 billion, showing a robust 39.8 per cent growth over the same period of last year due to an increase in the price of Oman crude oil. Of the total exports from the oil and gas sector, RO 4.99 billion was from oil exports while liquefied natural gas exports accounted for RO 1,082.6 million in export earnings during the first eight months of 2018.


The Sultanate’s non-oil exports also surged 25.6 per cent to reach RO 2,651.7 million during January-August period, from RO 2,110.9 million for the same period last year. Major non-oil exports include meat and meat products, minerals, chemicals, rubber, plastics, and base metals. Minerals accounted for RO 771.1 million in export revenue while chemicals and base metals and articles contributed RO 544.2 million and RO 645 million till August. Export revenue from plastics and rubber also rose by 39.1 per cent to RO 183.7 million during the same period.


In addition, the value of total re-exports fell by 2.1 per cent to RO 1,173.0 million for the first eight months of 2018, against RO 1,197.5 million during the same period last year.


Major re-exports include foodstuffs, minerals, electrical machinery, machines, and transport equipment.


Total imports by the Sultanate from its various trading partners increased by 4.4 per cent to RO 6.71 billion during eight-month period of 2018, over the same period of last year.


The major import items include meat and meat products, foodstuff, minerals, chemicals, base metals and articles, electrical machinery and mechanical equipment, and transport equipment.


The Sultanate imported live animals and their products worth RO 344.1 million during January till August period of 2018, against RO 299.6 million for the same period of last year. Also, the Sultanate’s import of prepared foodstuff and beverages rose 0.5 per cent to RO 324.6 million from RO 323.1 million.


On the other hand, the value of merchandise imports arriving via land grew by 2 per cent recording RO 2,002.5 million by the end of August 2018 compared to RO 1,962.8 billion during the same period in 2017. During the same period, the total value of merchandise imports arriving via air outlets rose by 24.3 per cent from RO 878.2 million recorded by the end of August 2017 to RO 1,091.8 million recorded by the end of August 2018.


The United Arab Emirates (UAE) retained its position as the leading destination of the Sultanate’s non-oil exports during January-August period of 2018.


The Sultanate’s non-oil exports to the UAE rose 16.2 per cent to touch RO 528.3 million in the first eight months of 2018, over the same period last year, according to NCSI report.


Further, Saudi Arabia was the second largest importer of non-oil products, followed by Qatar, India and China.


Saudi Arabia’s non-oil imports from the Sultanate fell by 0.5 per cent to RO 337.9 million while Qatar imported products worth RO 270.2 million, a phenomenal growth of 142.3 per cent.


The UAE was also the leading re-export destination of Omani products, which was valued at RO 270.4 million in the first eight months of 2018, showing a decline of 25.4 per cent compared to the same period last year. The UAE was followed by Qatar (RO 241.9 million), Iran (RO 97.9 million), Pakistan (RO 64.2 million) and Yemen (RO 62.1 million).


As far as the Sultanate’s importing destinations are concerned, the UAE led with an export of RO 3,117.9 million during the period under review, a surge of 8.8 per cent compared to the same period of last year.


The UAE was followed by China (RO 396.8 million), the United States (RO 332.1 million), India (RO 280.9 million) and Qatar (RO 204.5 million). — ONA


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