Sultanate’s non-oil exports up by 22.9pc

MUSCAT: The Sultanate’s trade balance recorded a surplus of RO 1.77 billion at the end of April 2018, compared to RO 946.3 million at the end of April 2017, according to statistics released by the National Centre for Statistics and Information (NCSI). The total export of goods to the Sultanate by the end of April 2018 was RO 5.109 billion, which is an increase of 27.7 per cent, compared with that of the end of April 2017 when the exports to the Sultanate were RO 4.2 billion.

In addition to this, commodity imports increased by 9 per cent to reach to RO 3.332 billion at the end of April 2018 from RO 3.056 billion at the end of April 2017. The Sultanate’s oil and gas exports were recorded to be at RO 3.209 billion, which is an increase of 30.5 per cent compared to the end of April 2017, when exports reached RO 2.459 billion. Among the oil and gas exports by the end of April 2018, the Sultanate’s crude oil exports stood at RO 2.385 billion, while the value of refined oil exports stood at RO 295.3 million, and the value of LNG exports was at RO 529.5 million.

These statistics show that the value of non-oil goods exports increased by 22.9 per cent to reach RO 1.316 billion, from RO 1.070 billion at the end of April 2017. Among non-oil exports, mineral products recorded the highest value with a growth of 17.4 per cent to reach to RO 341.6 million from RO 290.9 million at the end of April 2017. They were followed by chemical products, with an increase of 5.6 per cent to reach RO 291.5 million from RO 276 million at the end of April 2017. Similarly, the value of exports of ordinary metal products increased by 37.3 per cent to reach RO 305.8 million by the end of April 2018 from RO 222.7 million at the end of April 2017. Export of plastics and rubber products increased by 46.6 per cent to reach RO 89.8 million. The export of live stocks and their products increased by 86.2 per cent to reach RO 81.2 million while export of other products stood at RO 206.8 million.

The value of re-exports from the Sultanate increased by 23.3 per cent to reach RO 583.4 million by the end of April 2018 compared to RO 473 million at the end of April 2017. The value of re-exports of machinery, electrical appliances and spare parts increased by 174.3 per cent to reach RO 123.5 million. The re-export value of food and beverages also increased by 32.3 per cent to reach RO 51.2 million. — ONA