Trade balance hits above RO 1.4bn by September 2017 end: NCSI

MUSCAT: The trade balance of the Sultanate recorded a surplus of RO 1,402.9 million by the end of September 2017 compared with RO 944.3 million during the same period in 2016, according to the statistics released by the National Centre for Statistics and Information (NCSI). The total value of goods exports of the Sultanate by the end of September 2017 valued to be RO 9,143.2 million, constituting an increase of 21.8 per cent compared to the same period in 2016, where the total commodity exports of the Sultanate was valued to be RO 7,504.8 million. The Sultanate’s imports of goods increased by 18 per cent to reach RO 7,740.3 million compared with RO 6,560.5 million during the same period in 2016.
The Sultanate’s exports of oil and gas valued to be worth RO 5,360.0 million, representing an increase of 28.8 per cent over RO 4,162.9 million during the same period in 2016. Among the oil and gas exports, the value of the Sultanate’s exports of crude oil worth RO 4,269.9 million while the value of refined oil exports stood at RO 238.8 million. The value of the Sultanate’s exports of liquefied natural gas stood at RO 851.4 million.
The statistics showed that non-oil exports increased by 31.4 per cent to reach RO 2,364.7 million compared with RO 1,799.6 million during the same period in 2016.
The exports of the mineral products recorded an 51.5 per cent million during the same period in 2016; this is the highest value of non-oil products exports of the Sultanate. This is followed by chemical products with RO 610.1 million, which is an increase of 41.9 per cent, compared to RO 430.1 million during the same period in 2016.
The value of the exports of Base Metals and Articles and its products increased by 35.8 per cent to reach to RO 472.9 million. Similarly, the exports of the plastic and rubber products increased by 43.5 per cent to reach RO 149.4 million.
On the contrary, the exports of livestock and its products recorded a decrease of 7.6 per cent to reach to RO 116.7 million. The electrical machinery, equipment and their parts also dropped by 16.7 per cent
Similarly, the value of re-exports from the Sultanate decreased by 8 per cent by the end of September 2017 to reach to RO 1,418.4 million compared with RO 1,542.3 million during the same period in 2016.
Re-exports of transport equipment decreased by 42.1 per cent to RO 443.8 million from RO 767.2 million during the same period in 2016.
The value of re-exports of mineral products dropped by 7.7 per cent to reach RO 455.3 million from RO 493.3 million.
On the contrary, the value of re-exports of the electrical machinery, mechanical equipment and their parts increased by the end of September 2017 by 83.3 per cent to reach RO 180.5 million compared with RO 98.5 million during the same period in 2016.
The re-exports of other products by the end of September 2017 stood at RO 338.8 million, which is an increase of 84.8 per cent over RO 183.3 million of the same period in 2016.
As far as the commodities are concerned, the value of Sultanate’s imports of machineries, equipment’s and electrical appliances and their spare parts recorded the highest value by the end of September 2017 that worth RO 1,634.5 million, which is an increase of 20.8 per cent over the value of the same period in 2016 when it was worth RO 1,352.8 million.
The Sultanate’s import of transport equipment’s by the end of September 2017 stood at RO 1,317.8 million, which is an increase of 75.7 per cent over RO 750.1 million of the same period of in 2016.
The value of the Sultanate’s imports of base metals and articles stood at RO 1,027.4 million by the end of September 2017, constituting an increase of 17.9 per cent over RO 871.3 million that was at the end of September 2016.
The imports of mineral products decreased by 26.3 per cent by the end of September this year to RO 605.2 million from RO 820.7 million of the same period last year.
The value of the imports of products by the end of September 2017 was RO 562.5 million. The import of natural and cultivated pearls, as well as precious stones stood at RO 397.2 million and the imports of and plastic and rubber products was RO 305.9 million.
The Sultanate’s imports of livestock and their products increased by 0.3 per cent to reach to RO 334.5 million. Similarly, the value of imports of prepared foodstuffs, beverages increased by 5.5 per cent to reach RO 359.8 million. — ONA