MUSCAT: Oman’s merchandise trade surplus widened 37.2 per cent year-on-year to RO 3.37 billion by the end of May 2026, the largest single gain among the headline indicators published in the Ministry of Economy’s July Economics Brief.
Recorded merchandise imports fell 0.8 per cent to RO 7.22 billion over the same period, while non-oil Omani exports rose 1.5 per cent to RO 2.74 billion. Seven of the nine indicators carrying a direction of travel recorded year-on-year increases.
The average oil price stood at $80.9 a barrel at the end of June, up 9.4 per cent on the same point a year earlier.
On the national accounts, gross domestic product at constant prices reached RO 9.69 billion at the end of the first quarter of 2026, an increase of 2.6 per cent.
Petroleum activities grew 4.6 per cent to RO 3.04 billion, close to twice the 2.4 per cent expansion recorded by non-petroleum activities, which reached RO 7.04 billion. Non-petroleum activities remained the larger of the two components by value.
Foreign direct investment presented a divided picture. The total stock of FDI reached RO 32.20 billion at the end of the first quarter, an increase of 8.7 per cent.
Flows of foreign direct investment over the same period amounted to RO 2.57 billion, a fall of 35.7 per cent. The divergence indicates a rising cumulative stock of foreign capital alongside a sharply reduced pace of new investment during the quarter.
Inflation averaged 2.80 per cent over the January to June 25/26 period.
The indicators are drawn from differing reference periods. Gross domestic product and both foreign direct investment measures run to the end of the first quarter of 2026, the foreign trade figures to the end of May and the oil price to the end of June.
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