UK–Oman trade falls 4.6% to £1.6 billion

MUSCAT, AUG 10

Total trade in goods and services between the United Kingdom and Oman fell by £76 million (RO 37.24 million approx) or 4.6% over the 12 months ending Q1 2025, based on current prices amounting to £1.6 billion (RO 784 million), according to the latest UK government trade and investment factsheet.

Total UK exports to Oman experienced a decrease of 9.9% or £124 million (RO 60.76 million) compared to the previous year, totaling £1.1 billion (RO 539 million). Of this, goods exports made up 41.7% of exports amounting to £470 million (RO 230.3 million), representing a decline of 17.5% or £100 million (RO 49 million). Services exports made up 58.3% of exports, amounting to £657 million (RO 321.93 million), representing a decline of 3.5% or £24 million (RO 11.76 million).

In contrast, total UK imports from Oman experienced an increase of 12% or £48 million (RO 23.52 million), amounting to a total of £447 million (RO 219.03 million). Goods imports represented 69.4% of total imports, valued at £310 million (RO 151.9 million), marking a 16.1% increase valued at £43 million (RO 21.07 million). Service imports, which made up 30.6% of total imports, amounted to £137 million (RO 67.13 million), marking an increase of 3.8% or £5 million (RO 2.45 million).

According to the factsheet, the UK recorded a total trade surplus of £680 million with Oman in the four quarters to the end of Q1 2025, down from £852 million in the previous year. This included a goods trade surplus of £160 million, compared to £303 million the year before, and a services trade surplus of £520 million, compared to £549 million in the previous year.

Oman ranked as the UK’s 77th largest trading partner in the four quarters to the end of Q1 2025, accounting for 0.1% of total UK trade. It was the 60th largest services export market (0.1% of UK services exports) and the 90th largest import market (accounting for less than 0.1% of total UK imports).

Furthermore, at the end of 2023, Oman Foreign Direct Investment amounted to £140 million, an increase of 109% (£73 million) compared to 2022, representing less than 0.1% of the UK’s total inward FDI stock.