MUSCAT: Total trade in goods and services (exports plus imports) between the UK and Oman was £1.1 billion (approx RO 590 million) in the four quarters to the end of Q4 2020, a decrease of 22.8 per cent or £332 million (RO 177m) from the four quarters to the end of Q4 2019, the UK Department for International Trade said in its latest bulletin.
Of this £1.1 billion, total UK exports to Oman amounted to £876 million (RO 469m) in the four quarters to the end of Q4 2020 (a decrease of 16.0 per cent or £167 million compared to the four quarters to the end of Q4 2019). Total UK imports from Oman amounted to £247 million (RO 132m) in the four quarters to the end of Q4 2020 (a decrease of 40.0 per cent or £165 million compared to the four quarters to the end of Q4 2019).
Of all UK exports to Oman in the four quarters to the end of Q4 2020, £456 million (52.1 per cent) were goods and £420 million (47.9 per cent) were services. In the four quarters to the end of Q4 2020, UK exports of goods to Oman decreased by 20.1 per cent or £115 million compared to the four quarters to the end of Q4 2019 while UK exports of services to Oman decreased by 11.0 per cent or £52 million compared to the four quarters to the end of Q4 2019.
In the four quarters to the end of Q4 2020, total UK imports from Oman were £247 million (a decrease of 40.0 per cent or £165 million compared to the four quarters to the end of Q4 2019).
Of all UK imports from Oman in the four quarters to the end of Q4 2020, £171 million (69.2 per cent) were goods and £76 million (30.8 per cent) were services. In the same period, UK imports of goods from Oman decreased by 31.6 per cent or £79 million compared to the four quarters to the end of Q4 2019 while UK imports of services from Oman decreased by 53.1 per cent or £86 million compared to the four quarters to the end of Q4 2019.
“This means the UK reported a total trade surplus of £629 million with Oman, compared to a trade surplus of £631 million in the four quarters to the end of Q4 2019. In the four quarters to the end of Q4 2020, the UK had a trade in goods surplus of £285 million with Oman, compared to a trade in goods surplus of £321 million in the four quarters to the end of Q4 2019. Meanwhile, in the four quarters to the end of Q4 2020 the UK reported a trade in services surplus of £344 million with Oman, compared to a trade in services surplus of £310 million in the four quarters to the end of Q4 2019’’, the bulletin noted.
Oman was the UK’s 70th largest trading partner in the four quarters to the end of Q4 2020 accounting for 0.1 per cent of total UK trade.
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