MUSCAT: China's trade with Oman witnessed modest growth in exports and a significant surge in imports in November 2023 compared to the same month in 2022. While Chinese exports to Oman edged up by 0.91% to $373 million, imports from Oman rose 0.63% to $2.92 billion, resulting in a trade deficit of $2.55 billion for China.
China's main exports to Oman in November included polycarboxylic acids ($46.7 million), iron pipes ($35.3 million), telephones ($26 million), petroleum coke ($23.4 million), and semiconductor devices ($12.6 million). On the other hand, Oman's major exports to China were crude petroleum ($3.07 billion), petroleum gas ($519 million), acyclic alcohols ($87.1 million), semi-finished iron ($75.1 million), and ethylene polymers ($10.3 million).
Shandong Province emerged as the top exporter to Oman from China, contributing $82.6 million, followed by Zhejiang Province ($66.5 million), Guangdong Province ($50.6 million), Jiangsu Province ($40.7 million), and Liaoning Province ($19.3 million). Meanwhile, Beijing received the lion's share of Oman's exports to China, accounting for $1.95 billion. Other major import destinations included Shandong Province ($310 million), Guangdong Province ($270 million), Fujian Province ($81.3 million), and Jiangsu Province ($76.4 million).
The year-on-year increase in China's exports to Oman was primarily driven by polycarboxylic acids (482% growth), iron pipes (169% growth), and telephones (55.9% growth). On the import front, the surge was mainly due to crude petroleum (135% growth), petroleum gas (72.1% growth), and semi-finished iron (94.7% growth).
Overall, China-Oman trade exhibited contrasting trends in November 2023. While exports saw moderate growth, imports witnessed a significant jump, highlighting Oman's growing importance as a supplier of key commodities to China.
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