MUSCAT: Credit Oman, the leading export credit agency in Oman, announced an overall growth of 8 per cent in the total value of insured Omani exports and domestic sales during the third quarter of the current year, amounting to a total value of RO 259.092 million. This growth reflects the continuous improvement in Oman's economic and trade performance, driven by government initiatives and measures to enhance financial and economic indicators, it said in a statement.
Shaikh Khalil bin Ahmed al Harthy, CEO, emphasised the ongoing efforts to strengthen the Omani export system and support local manufacturers and sellers through innovative insurance services and solutions provided by Credit Oman.
These initiatives aim to increase sales volume and enhance trust in Omani companies to sell their products both domestically and globally. The Omani product is renowned for its high quality and enjoys a good reputation in various countries around the world, he stated.
According to Al Harthy, the insured sectors covered by Credit Oman encompass a wide range of diverse industries. The food and consumer goods sector led the insured domestic sales and exports in the third quarter of the current year, with a total value of RO 119.865 million. It was followed by the petrochemical and plastic sector, which witnessed a remarkable growth of 281 per cent, reaching a total value of RO 25.629 million. The mining sector recorded a growth of 136 per cent with a total value of RO 3.242 million compared to the same period last year. However, the clothing sector experienced a decline of 34 per cent with a total value of RO 1.333 million. The packaging sector's domestic sales and exports amounted to approximately RO 852,967, registering a decrease of 9 per cent compared to the same period last year.
Al Harthy reaffirmed Credit Oman's commitment to continue supporting the Omani export system, as well as standing by local manufacturers and sellers through innovative insurance services and solutions. These efforts are aimed at boosting sales volume and enhancing confidence in Omani companies to sell their products both domestically and internationally, he added.
Caption: Shaikh Khalil bin Ahmed al Harthy, CEO
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