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Xifres de comerç exterior d'Oman

Foreign Trade in Figures

Oman's economy is highly open, with trade constituting approximately 94% of the country’s GDP, according to the World Bank. The Sultanate primarily exports hydrocarbons and petrochemicals but has been striving to diversify its economy in recent years, with an increasing share of industrial products in total exports. Oman's economy heavily relies on exports of oil (50.6% of total exports) and liquefied natural gas (9.9%), with other exports including chemicals, plastics, and rubber products. In contrast, the main imports consist of petroleum oils, iron ores, vehicles, telephones, and gold.

The United Arab Emirates, Saudi Arabia, the United States, India, and China are Oman’s main export partners, while imports primarily originate from the United Arab Emirates, China, India, Qatar, and Brazil. Oman benefits from high-quality port facilities that facilitate trade; however, slow procedures and rigid labor laws remain significant obstacles. Customs duties are relatively low, and there are few trade barriers in the country, with goods produced in Gulf Cooperation Council (GCC) member countries being duty-free if accompanied by a certificate of origin.

According to WTO data, Oman's goods exports totaled USD 66.4 billion in 2022, marking a 49% increase from the previous year due to higher hydrocarbon prices, while imports amounted to USD 38.7 billion, up by 24%. The country maintains a structural trade surplus, although it is highly sensitive to fluctuations in hydrocarbon prices. However, non-oil exports experienced a 2.8% year-on-year decrease during the first 10 months of 2023, primarily attributed to reduced shipments to the United States. The total value of non-oil exports decreased to OMR 6.122 billion during the January–October period of 2023 compared to OMR 6.297 billion recorded in the same period the previous year. Additionally, by the end of December 2023, Oman's total oil exports amounted to 310,331,200 barrels, with an average price per oil barrel of USD 82.3, according to data issued by the National Centre for Statistics and Information (NCSI).

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 23,50728,50730,99538,57336,382
Exports of Goods (million USD) 38,72433,47944,59166,06362,736
Imports of Services (million USD) 12,1128,1778,45310,607n/a
Exports of Services (million USD) 4,8982,2371,7332,787n/a

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20172018201920202021
Foreign Trade (in % of GDP) 89.089.386.591.993.9
Trade Balance (million USD) 8,76518,08418,2297,63816,542
Trade Balance (Including Service) (million USD) 1,88910,94611,0151,6979,822
Imports of Goods and Services (Annual % Change) 13.8-4.4-3.4-8.92.7
Exports of Goods and Services (Annual % Change) -0.82.81.9-14.614.2
Imports of Goods and Services (in % of GDP) 43.238.737.044.841.4
Exports of Goods and Services (in % of GDP) 45.750.649.547.152.5

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 5.88.03.94.53.6
Volume of imports of goods and services (Annual % change) 4.410.81.71.21.8

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Oman is a member of the Arab League. The country is also part of the Greater Arab Free Trade Area (GAFTA) Agreement, a pact of the Arab League entered into force in January 2005 which aims to form an Arabic free trade area.

Member of the WTO (since Novembre 2000)

Member of the Gulf Council Cooperation

 

Main Partner Countries

Main Customers
(% of Exports)
2022
United Arab Emirates 4.8%
Saudi Arabia 3.6%
United States 3.4%
India 3.4%
Qatar 1.5%
See More Countries 83.2%
Main Suppliers
(% of Imports)
2022
United Arab Emirates 29.0%
Saudi Arabia 12.0%
India 8.5%
China 7.5%
Qatar 6.2%
See More Countries 36.9%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

66.1 bn USD of products exported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 45.9%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 12.3%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 12.0%
Iron ores and concentrates, incl. roasted iron...Iron ores and concentrates, incl. roasted iron pyrites 3.3%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg) 3.2%
See More Products 23.4%
38.6 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 22.3%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.8%
Iron ores and concentrates, incl. roasted iron...Iron ores and concentrates, incl. roasted iron pyrites 4.0%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 1.9%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 1.9%
See More Products 65.1%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Actualitzacions: May 2024

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