7.78 per cent increase in Sultanate’s trade balance

MUSCAT: Trade balance of the Sultanate by the end of September 2019 registered a surplus and stood at RO 4,410.0 million, compared to RO 4,053.9 million, an increase of 7.78 per cent.
Preliminary statistics issued by National Centre for Statistic and Information (NCSI) showed that the value of merchandise exports by the end of September 2019 stood at RO 11,105.7 million, compared to RO 11,565.3 million, down by 4 per cent as against the corresponding period ending June 2018.
The value of merchandise imports dropped by 9.7 per cent to RO 6,785.7 million at the end of September 2019 from RO 7,511.4 million in the corresponding period in 2018.
The Sultanate’s oil and gas exports stood at RO 7,618.6 million, down 0.6 per cent by the end of September 2018, registering RO 7,664.5 million.
The value of refined oil exports amounted to RO 819.6 million while liquefied natural gas (LNG) exports stood at RO 1,291.5 million.
The statistics showed that the Sultanate’s export of non-oil products decreased by 4 per cent to RO 2,469.7 million by end of September last year, compared to RO 2,573.5 million in the corresponding period of last year.
Chemical industries products constituted the highest value among merchandise exports, as they stood at RO 685.2 million, followed by ordinary metal products at RO 630 million, mineral products at RO 261.7 million, plastic and rubber products at RO 164.2 million, livestock and their products at RO 143.7 million and exports of other products at RO 585 million.
The value of reexports from the Sultanate dropped by 23.4 per cent by the end of September 2019 to RO 1,017.3 million, compared to RO 1,327.3 million during the corresponding period in 2018.
The value of reexports in transport machinery dropped by 14.1 per cent to RO 296.6 million, while the value of products of machinery, electrical equipment and appliances decreased by 6.9 per cent to RO 291.1 million. The value of reexports of metal products dropped by 81.8 per cent to RO 59.5 million while chemical industries products reexports came down by 18 per cent, registering 53.5 million. Reexport value of foodstuff and beverage industries rose by 47.7 per cent to RO 171.1 million and reexport value of other products stood at RO 235.6 million.
The value of merchandise imports of the Sultanate dropped by 23.7 per cent in the sector of machinery and electrical appliances and equipment, registering RO 1,520.8 million by the end of September 2019, compared to the corresponding period in 2018.
The value of imports of ordinary metals came down by 15.7 per cent from RO 1,062. 2 million. Transport equipment imports registered a 35.8 per cent rise to RO 737.8 million from RO 543.4 million by the end of September 2018. Imports of chemical industries products went up slightly by 0.4 per cent to RO 584.9 million.
The value of the Sultanate’s imports of mineral products declined by 38.9 per cent to RO 410.3 million while the value of the Sultanate’s foodstuff and beverage industries products stood at RO 408.1 million.
Imports of livestock products stood at RO 395.3 million while imports of plastic and rubber products stood at 328.6 million. Imports of other products accounted for RO 1,337.7 million.  — ONA