Oman’s non-oil exports surge on robust Qatar demand
Oman’s non-oil exports recorded a robust growth in the first four months of this year as strong demand from Qatar and Saudi Arabia lifted overall value of the sultanate’s exports.
Non-oil exports at RO1.32bn were up by 23 per cent in the first four months of 2018 compared to RO1.07bn in the same period of 2017, the figures released by the National Centre for Statistics and Information (NCSI) showed.
Oman’s exports to Qatar more than tripled to RO139.6mn during January – April period of this year against RO45.5mn in the corresponding period of last year. Exports to Saudi Arabia also grew more than 30 per cent to RO191.3mn during the first four months of 2018.
Exports to the UAE, however, decreased 1.7 per cent to RO270.5mn from RO275.3mn in the same period a year ago. Non-oil exports to India rose 7.9 per cent to RO114.6mn, while China imported RO86.5mn worth of non-oil items from the sultanate, an year-on-year growth of 8.7 per cent.
Total re-exports from Oman grew 23.3 per cent to RO583.4mn in January – April period of 2018 from RO473mn a year ago. Qatar accounted for the biggest chunk of Oman’s re-exports this year, as re-exports to Qatar surged to RO133.3mn in the first four months of 2018 compared to just RO3.8mn worth of re-exports in the previous year.
Re-exports to the UAE, however, fell 30.6 per cent to RO127.7mn during the four months ended April 2018. Demand from Iran for Oman’s re-exports also decreased 25.2 per cent to RO47.9mn.
On the other hand, Oman’s total imports grew 10.4 per cent to RO3.37bn during the first four months this year compared to RO3.05bn in the same period a year ago. Imports from the UAE rose 13.6 per cent to RO1.54bn while imports from China jumped more than 40 per cent to RO207.8mn. However, imports from India fell 11.3 per cent during the first four months of this year to RO144.7mn.