Trade surplus at RO 942m in Sept

MUSCAT: The Sultanate’s trade balance registered RO 942.2 million surplus till September 2016, according to statistics of the National Centre for Statistics and Information (NCSI). The total value of the Sultanate’s commodity exports stood at RO 7.5 billion till the end of September 2016, comprising a decline of 28.2 per cent, compared to the same period in 2015, which stood at RO 10.4 billion. The Sultanate’s commodity imports stood at RO 6.5 billion till the end of September 2016, comprising a decline of 21.4 per cent, compared to the same period in 2015, which stood at RO 8.3 billion.

The total value of oil and gas exports stood at RO 4.1 billion till the end of September 2016, comprising a decline of 32.9 per cent, compared to the same period in 2015, which stood at RO 6.2 billion. The value of crude oil exports during the same period also stood at RO 3.5 billion. The value of refined oil exports stood at RO 117,5 million and the value of LNG exports stood at RO 521.3 million. The value of non-oil exports stood at RO 1.8 billion till the end of September 2016, comprising a decline of 24.1 per cent, compared to the same period in 2015, which stood at RO 2.3 billion.

The chemical industries registered the highest value from the non-oil exports, despite the decline of 24 per cent to stood at RO 430.1 million till the end of September 2016, compared with RO 565.7 million during the same period in 2015. The value of plastic and rubber exports stood at RO 104 million, comprising a decline of 49.7 per cent, compared to same period in 2015, which stood at RO 206.8 million. The value of mineral products exports stood at RO 422.5 million, comprising a decline of 13.9 per cent, compared to the same period in 2015, as well as the mineral works declined by 30.6 per cent to stand at 348.3 million.

The value of equipment, machinery and electrical equipment exports and their parts declined by 23.8 per cent to reach RO 83.4 million. The live animals and their products exports declined by 21.7 per cent to stand at RO 126.3 million. The re-export activity declined by 18.2 per cent to stand at RO 1.5 billion compared to RO 2.8 billion during the same period in 2015. The value of the Sultanate’s commodity imports including tools, electrical equipment, machinery and their parts stood at RO 1.3 billion; a decline by 18.8 per cent compared to RO 1.6 billion at the same period in 2015.

The value of the Sultanate’s transport equipment imports stood at RO 752.3 million; a decline of 43.7 per cent compared to RO 1.3 billion at the corresponding period in 2015. The Sultanate’s live animal imports and their products declined by 4.6 per cent compared to stay at RO 333.7 million. The value of the food and beverage products imports increased by 1.7 per cent to RO 340.9 million. NCSI also said that the United Arab Emirates topped the list of trade partners for the Sultanate as the value of Oman non-oil exports to UAE during the first nine months of 2016 stood at RO 445 million compared to RO 475.6 million during the same period in 2015; a decline of 6.4 per cent.

The Sultanate’s non-oil exports to Saudi Arabia stood at RO 196.8 million, followed by India with RO 193 million, Yemen by RO 149 million and China by RO 147.7 million. The value of re-export products to UAE stood at RO 400.7 million, followed by Iraq with RO 201.1 million, Saudi Arabia with RO 152.8 million, China with RO 141.6 million and Iran with RO 88.3 million. In terms of the top exporters to the Sultanate, UAE topped the list as the total value of UAE exports to the Sultanate at the end of September 2016 stood at RO 3.2 billion. China came second with RO 309.4 million, India with RO 302.8 million, Japan by RO 287.5 million and the USA by RO 287.1 million. — ONA