Oman’s trade with key partners reached RO 15 billion in 2016

MUSCAT, DEC 30 – The total non-oil bilateral trade between the Sultanate of Oman and its ten key partners reached to a whopping RO 15,253,115,278 during 2016, according to the Ministry of Commerce and Industry. The data has revealed that it was 80.2 per cent of the total trade of the Sultanate with surplus in favour of the Sultanate with a value of RO 466,486,482,490. The United Arab Emirates (UAE) is on top of these ten partners in volume of trade with the Sultanate by the end of 2016, The value of trade between the UAE and Oman reached to RO 5,518,281,810, according to the data of the Ministry of Commerce and Industry. However, in this case the trade balance is in favour of the UAE the volume of imports being RO 3,168,363,576 more than the exports.
It is followed by China which is on second position with trade volume of RO 4,756,232,108 where the trade balance is in favour of Oman with a surplus of RO 3,845,443,588. The volume of trade with South Korea was of RO 882,923,875 with a trade balance in favour of the Sultanate with a surplus of RO 618,430,165. The volume of trade with Japan was RO 795,301,035 with a trade balance in favour of Japan worth RO 8,601,215. The volume of bilateral trade between India and the Sultanate was RO 794,891,159, with a trade balance in favour of India worth RO 93,761,917.
While the volume of trade between the Kingdom of Saudi Arabia was RO 731,536,097, the balance of trade surplus was in favour of the Sultanate with RO 91,708,345.
The volume of trade with the United States was RO 721,770,484 with a trade balance in favour of the US worth RO 112,870,776. The volume of trade between the Sultanate and Yemen was worth RO 354,623,732 with the balance of trade surplus in favour of the Sultanate with RO 121,225,696.
The Sultanate and Iran have a bilateral trade of RO 349,807,063. Here the trade balance was in favour of Iran worth RO 144,083,713. The trade with Taiwan was RO 347,747,915 with a surplus in trade balance in favour of the Sultanate valued at RO 317,355,893.