RIYADH: Oman’s non-oil exports rose 11.3 percent to 3.89 billion Omani rials ($10.12 billion) by the end of July compared to the same period last year, new data has revealed.
According to preliminary figures from the National Centre for Statistics and Information, as reported by the Oman News Agency, the country’s overall trade surplus narrowed to 3.55 billion rials in the January–July period, down 34.6 percent compared to 5.43 billion rials during the same period last year.
The decline is attributed mainly to a 17 percent drop in oil and gas exports, which fell to 8.58 billion rials, from 10.34 billion rials a year earlier.
The increase in non-oil merchandise reflects growing demand for Omani industrial and manufacturing goods across key regional and international markets.
As part of Oman Vision 2040, the government is actively working to reduce the economy’s dependence on hydrocarbons by promoting non-oil industries, enhancing local production capabilities, and expanding access to global markets.
