Oman’s trade surplus rises 37.2% to OMR3.4 billion by May end

MUSCAT: The Sultanate of Oman’s trade balance recorded a surplus of OMR3.4 billion by the end of May 2026, registering a 37.2 percent increase compared with OMR2.5 billion during the same period in 2025.

Data issued by the National Centre for Statistics and Information (NCSI) showed that the total value of merchandise exports rose by 10.1 percent, reaching approximately OMR10.6 billion by the end of May 2026, compared with OMR 9.6 billion during the corresponding period of 2025.

The increase was supported primarily by higher oil and gas exports, whose value rose 8.4 percent to OMR6.8 billion, compared with OMR6.3 billion a year earlier.

Re-exports recorded the strongest growth, increasing by 64 percent to OMR 1 billion, up from OMR 623 million during the same period of 2025.

Meanwhile, Oman’s non-oil exports increased by 1.5 percent to OMR2.74 billion, compared with OMR2.70 billion at the end of May 2025.

On the imports side, the value of merchandise imports rose marginally by 0.8 percent, reaching OMR 7.22 billion, compared with OMR 7.20 billion during the same period last year.

UAE leads non-oil export destinations

The United Arab Emirates remained the leading destination for Oman’s non-oil exports, receiving goods worth OMR 645 million by the end of May 2026.

The Kingdom of Saudi Arabia ranked second with exports valued at OMR 283 million, followed by India with OMR 280 million.

UAE tops re-export destinations

The UAE also topped the list of countries receiving Omani re-exports, with a total value of OMR 432.7 million.

Re-exports to the UAE were led by natural or cultured pearls, precious and semi-precious stones, precious metals and their products, jewellery and coins, valued at OMR 271.4 million.

This was followed by machinery, mechanical appliances, electrical equipment and parts thereof, valued at OMR 79.1 million.

Iran ranked second among re-export destinations, with goods valued at OMR 172.8 million. Food, beverages, liquids, tobacco and manufactured tobacco substitutes accounted for the largest share at OMR 83.5 million, followed by machinery, mechanical appliances, electrical equipment and parts at OMR 31.6 million.

Saudi Arabia ranked third, with re-exports valued at OMR 164.6 million. Vehicles, aircraft, ships and related transport equipment accounted for OMR 148.4 million, while miscellaneous goods and products were valued at OMR 4.6 million.

Oman’s re-exports to Hong Kong reached OMR 18.5 million. The largest category comprised optical, photographic, measuring, testing, medical and surgical instruments and devices, as well as watchmaking and musical instruments and their parts and accessories, valued at OMR 11 million. Pearls, precious and semi-precious stones, precious metals, jewellery and coins accounted for OMR 6 million.

Re-exports to Russia stood at OMR 16.2 million, led by antiques, collectors’ pieces and works of art worth OMR 14.1 million, followed by machinery, mechanical appliances, electrical equipment and parts valued at OMR 1.7 million.

UAE remains Oman’s largest import source

On the import side, the UAE remained Oman’s largest trading partner, supplying merchandise worth OMR 1.9 billion by the end of May 2026.

China ranked second with imports valued at OMR 986 million, while Turkey ranked third with OMR 550 million.

The latest figures highlight the continued strength of Oman’s external trade position, with export growth significantly outpacing the increase in imports during the first five months of 2026.