MUSCAT: The total volume of secured sales of local sales and Oman exports at Credit Oman during the first half of this year saw a growth of 5 per cent with a total value of RO 161.150 million compared to the same period in 2022 of RO 153.404 million.
Shaikh Khalil bin Ahmed al Harthy (pictured), Chief Executive Officer of Credit Oman, explained that domestic sales during the first half of this year saw a 8 per cent increase in total value of RO 64.511 million compared to the same period last year of about RO 59.773 million. Secured export sales from the Sultanate of Oman to countries around the world grew by 3 per cent with a total value of RO 96.672 million compared to the same period last year of RO 93.630 million.
Al Harthy told the Oman News Agency (ONA), "The petrochemical and plastic sector has experienced a 161 per cent growth in export secured sales. With a total value of RO 6.842 million, secured domestic sales of the same sector recorded growth of 546 per cent with a total value of RO 6.729 million compared to RO 1.041 million in the same period of 2022, noting that the materials related to this sector were polypropylene used in the various plastics industries and urea used in the industrial fertilizer industry.
He added: "The mining sector registered growth during the first half of this year with a total value of RO 2.191 million, an increase of 133 per cent compared to the corresponding period in 2022 of RO 940, 151.
He noted that the garment sector recorded a 36 per cent decline in the value of secured sales during the first half of this year valued at RO 807,541 compared to the same period last year of RO 1.264 million. The food and consumer sector also saw a decline of 5 per cent to the value of secured sales of RO 73.079 million compared to RO 76.837 million in the same period last year.
Al Harthy stressed that this growth was the result of continued efforts to promote Omani exports and local sales and to stand with Omani manufacturers through innovative insurance services and solutions provided by Credit Oman according to their needs and support for sale and entry into new and promising markets around the world. — ONA
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