Muscat:The value of manufacturing industry exports increased by 6.2 per cent to reach OMR5 billion at the end of 2018, compared to 2017, according to a new report.
The contribution of manufacturing industry to the gross domestic product (GDP) at current prices was 9.6 per cent; delivering a value-added of OMR3 billion, data released by the National Centre for Statistics and Information (NCSI), shows.
The official data released by NCSI showed that manufacturing exports contributed 31.4 per cent of the total volume of Oman's exports in 2018 and 93 per cent of the total volume of imports. The UAE came first in terms of its share of volume of the Omani manufacturing exports by 20.9 per cent (with a value of OMR1.1 billion), followed by Qatar by 11.9 per cent, Saudi Arabia by 9.1 per cent, India by 6.3 per cent, and China by 5.6 per cent.
Furthermore, Sohar Port, in terms of value, has facilitated 54 per cent of manufacturing exports increasing from OMR2.5 billion (in 2017) to OMR3 billion, followed by Al Wajajah border post by 12.5 per cent, Muscat International Airport by 6.5 per cent, Wadi al Jizzi by 5.3 per cent, Salalah Port by 4.9 per cent and the other border crossing posts by 16.5 per cent.
The value of oil manufacturing exports decreased by 10.9 per cent compared to 2017 to reach OMR648 million; representing 13 per cent of the total volume of manufacturing exports; as the refined petroleum and coke furnaces products considered among the most important manufacturing exports. Qatar ranked first in terms of the value of manufacturing industry products imported from Oman by OMR106.1 million, followed by Pakistan by OMR102.5 million, South Africa by OMR86 million, Yemen by OMR81 million, and Iraq by OMR53.6 million; while manufacturing exports to other countries amounted to OMR218.8 million.
According to the NCSI's information report, non-oil manufacturing exports increased by 19.7 per cent compared to 2017 to reach OMR4.4 billion; representing 87 per cent of total manufacturing exports; among which the chemical products, basic metal industries, food products, motor vehicle industry and other transport equipment industries are the most important. The UAE came first in terms of the value of non-oil manufacturing products imported from Oman by OMR1 billion, followed by Qatar by OMR495 million, Saudi Arabia by OMR458 million, India by OMR296 million, China by OMR281 million, and other countries by OMR1.8 billion.
On the other hand, the value of manufacturing industry imports dropped by 1.6 per cent in 2018 comparing to 2017 to reach OMR9.3 billion; representing 93 per cent of total imports. Imports from UAE represented 48.1 per cent of total manufacturing imports by a value of OMR4.5 billion, followed by imports from China by 6.2 per cent, India by 4.2 per cent, Qatar by 3.7 per cent and Saudi Arabia by 3.4 per cent.
A total of 48 per cent of manufacturing imports that equals to OMR4.5 billion has been facilitated through Sohar Port in 2018 compared to OMR4.6 billion in 2017; while 18 per cent of manufacturing imports has been facilitated through Al Wajajah border post, 11 per cent through Muscat International Airport (cargo), 5 per cent through Wadi al Jizzi, 3 per cent Salalah Port and 15 per cent through other border crossing posts.
The value of oil manufacturing imports decreased by 5.5 per cent compared to 2017 to reach OMR530 million; representing 5.7 per cent of total imports, of which the refined petroleum and coke furnaces products are considered the most important among oil manufacturing industry imports.
At the level of the countries exporting manufacturing industry products to the Sultanate, Qatar came first by the total value of products of OMR134.9 million, followed by Iraq by OMR83.3 million, UAE by OMR79.8 million, India by OMR59 million, Bahrain by OMR28.4 million, and other countries by OMR144.6 million.
Non-oil manufacturing industry imports decreased by 1.3 per cent to OMR8.7 billion compared to 2017; to represent 94.3 per cent of total manufacturing imports, among which the basic metal and machinery industries, food products, motor vehicle industry, and computer and electronic products industries are the most important. Non-oil products imported from UAE amounted to OMR4.4 billion, followed by products imported from China that stood at OMR600 million, India (OMR300 million), Saudi Arabia (OMR300 million), USA (OMR300 million), and other counties (OMR2.9 billion).
The total volume of Foreign Direct Investment (FDI) in manufacturing at the end of 2018 amounted to OMR1.3 billion; representing 9.7 per cent of the total FDI, while the total value of the Omani direct investments in manufacturing amounted to OMR75.1 million, in 2017; comprising 4.1 per cent of total Omani direct investment. UAE ranked first in terms of FDI in manufacturing by OMR241.2 million; representing 19 per cent of the total volume of FDI in manufacturing as of the end of 2018, followed by India by 8.7 per cent, USA by 7.9 per cent, the Netherlands by 7.6 per cent, and Kuwait by 3.9 per cent.