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Oman FDI inflows touch OMR9.7 billion
July 22, 2019 | 7:01 PM
by Times News Service
Ministry of Commerce and Industry. - File picture
 
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Muscat: The foreign direct investment (FDI) at the end of the third quarter of 2018 amounted to OMR9.7 billion compared to the same period in 2017 which reached OMR8 billion, according the latest Ministry of Commerce and Industry Renaissance Day report.

The contribution of the oil and gas sector accounted for 56.6 per cent of the total FDI, followed by the financial intermediary sector by 14.5 per cent, the manufacturing sector contributed 11 per cent, the real estate, leasing and business activities sector grew by 6.9 per cent and other sectors at 11per cent, the report said.

The United Kingdom topped the list of FDI in the Sultanate until the end of the second quarter of 2018. Total investments from the UK amounted to OMR4.7 billion, followed by the United Arab Emirates in second place at OMR1 billion, and Kuwait ranked third, with investments amounting to OMR425.9 million.

The total foreign investments amounted to OMR1 billion. The State of Qatar and the State of Bahrain each have about OMR735 million of the total foreign direct investment in the Sultanate.



The preliminary results of the statistical data in 2018 indicate that the contribution of gross domestic product (GDP) of domestic trade in most commercial economic activities, including wholesale and retail trade at current prices increased by 4.8 per cent, reaching OMR1.6 billion until the end of 2018.

The contribution of service activities in GDP also increased by 4.1 per cent reaching OMR10.5 billion until the end of 2018 compared to the same period last year which amounted to OMR10.1 billion.



External trade

Total trade (imports with commodity exports including oil) rose by the end of 2018, recording an amount of OMR19.5 billion at the end of 2018 compared to the same period in 2017, which amounted to OMR16.4 billion, the report said.

This remarkable performance of the Sultanate’s foreign trade led to a surplus of trade balance of OMR201 million compared to the same period last year, which amounted to OMR1.6 billion.

Imports

Total imports increased to OMR7.6 billion until the end of September 2018, compared to the same period last year, which amounted to OMR7.2 billion.

Imported goods through the seaports accounted for the largest percentage, amounting to OMR4.14 billion, which constitutes 54.5 per cent of the total imported goods, the goods that come through the land crossings come in second place amounting OMR2.2 billion at 29.2 per cent, while import goods received by air amounted to OMR1.2 billion constituting 16.3 per cent of the total imports until the end of September 2018.

Exports

Total exports increased to OMR11.9 billion until the end of September 2018 compared to the same period in 2017, which amounted to OMR9.13 billion, the report said.

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