Credit Oman continues to boost economic development

Muscat: The food and consumer goods sector topped the value of sales insured by Credit Oman registering a growth of 23 percent to OMR43.33 million during the first quarter of 2023 compared to 35.23 million during the same period of 2022.

In addition, the share of domestically insured sales within the Sultanate of Oman amounted to OMR29,591,18,000, while the value of sales from the Sultanate of Oman and to the world amounted to OMR13,738,396.

The value of insured sales in the building and construction materials sector continued to grow and reached OMR31.57 million in the first quarter of 2023 compared to OMR30.94 million in the same period of last year.

While the value of insured sales in the mining sector grew by 274 percent to OMR1,449,708, the petrochemical and plastics sector recorded a growth of 135 percent and reached OMR4,836,527.

The clothing industry sector witnessed a significant decline of 37 percent, bringing the total value of insured sales to OMR427,558 compared to the same period last year, which amounted to OMR683,360.

Credit Oman continues its efforts to support local exporters and sellers through the insurance solutions it provides that suit customer needs and help them enter promising markets and sell their products.