Credit Oman registers increase in insured sales, credit ceilings

Muscat: Export Credit Guarantee Agency of Oman (Credit Oman) showed an increase in the total value of the volume of insured sales and approved credit ceilings for domestic and foreign sales during the first quarter of 2020 compared to the first quarter of 2019.
Credit Oman pointed out that the total value of insured sales hit OMR23,123,000, a growth of 5.96 per cent during the first quarter of 2020 compared to OMR21,821,000 during the same period of 2019.
The value of insured sales of the Sultanate's exports to the countries of the world during the first quarter of 2020 stood at OMR17,943,000 whereas the value of insured domestic sales within the Sultanate stood at OMR5,179,000.
Credit Oman also said that the total value of credit ceilings approved for domestic and foreign sales during the first quarter of 2020 hit OMR112,094,000, an increase of 30.18 per cent, compared to OMR86,105,000 during the same period in 2019.
The share of the value of approved credit ceilings for exports during the first quarter of 2020 stood at OMR84,067,000. The value of approved domestic credit ceilings reached OMR28,027,000.