Trade between Oman and countries of Americas see robust growth

Muscat: The Sultanate of Oman is witnessing a big boost in its volume of trade with the countries of the Americas increasing by 6.6 percent to reach OMR742.94 million by the end of May 2024  compared to OMR696.69 million  by the end of May 2023, according to preliminary statistics issued by the National Centre for Statistics and Information  (NCSI).

The NCSI data further indicates that the total exports from the Sultanate of Oman to the countries of the Americas reached OMR255.41 million by the end of May 2024. This is an increase of 23.3 percent by the end of May 2024 compared to the end of May 2023, when the value of exports amounted to OMR 207.13 million.

The total imports of the Sultanate of Oman from the countries of the Americas by the end of May 2024 amounted to OMR469.35 million, an increase in value of 2 percent compared to the end of May 2023, when the total imports amounted to 459.99 million.

The total re-exports from the Sultanate of Oman from the countries of Americas amounted to OMR18.17 million by the end of May 2024, a decrease in value of 38.5 percent compared to the end of May 2023, when the total value of re-exports at that time amounted to OMR29.56 million.

The United States of America ranked first among the countries of America in terms of trade exchange with the Sultanate of Oman. The total imports amounted to OMR197.48 million by the end of May 2024 , a decrease of 7.9 percent compared to the end of May 2023, when the value of imports at that time amounted to OMR214.42 million.
The value of re-exports to the United States by the end of May 2024 amounted to OMR17.45 million, a decrease of 35 percent compared to the same period in 2023, when the value of re-exports amounted to OMR26.85 million.

Brazil ranked second among the countries of America in terms of trade exchange with the Sultanate of Oman. The total imports from Brazil amounted to OMR226.34 million by the end of May 2024, an increase of 13 percent compared to the end of May 2023, when the value of imports amounted to OMR200.51 million.

Metal products came at the forefront of the Sultanate of Oman’s imports from the countries of Americas by the end of May 2024, with a value of OMR204.43 million, followed by vehicles, aircraft, ships and similar transport equipment, with a value of OMR106.37 million, machinery and mechanical devices, electrical equipment, and their parts with a value of OMR31.64 million.

Ordinary metals and their products came at the forefront of the Sultanate of Oman’s exports to the Americas by the end of May 2024, with a value of OMR106.97 million, followed by plastics and their products, rubber and its products with a value of OMR86.81 million, products of chemical industries or related industries with a value of OMR43.88 million.

Products of vehicles, aircraft, ships and similar transport equipment came at the forefront of re-exports from the Sultanate of Oman to the Americas, with a value of OMR8.66 million, followed by machinery and mechanical devices, electrical equipment, and parts with a value of OMR5.11 million, natural or cultured pearls, precious or semi-precious stones, precious metals, common metals clad with a layer of precious metals, articles of these materials, imitation jewellery, and coins with a value of OMR3.18 million.