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Trade surplus drops 36% to RO3.9bn amid weaker oil prices

Sunday, 9 November 2025 22:57

Muscat – Oman’s trade surplus narrowed sharply to RO3.93bn in the first eight months of 2025, down 36.1% from RO6.145bn in the same period last year, as lower international oil prices weighed on export revenues. Preliminary data from the National Centre for Statistics and Information show that the total value of merchandise exports fell 9.5% […]

Muscat – Oman’s trade surplus narrowed sharply to RO3.93bn in the first eight months of 2025, down 36.1% from RO6.145bn in the same period last year, as lower international oil prices weighed on export revenues.

Preliminary data from the National Centre for Statistics and Information show that the total value of merchandise exports fell 9.5% to RO15.318bn in 2025 from January to August, from RO16.926bn in the corresponding period of 2024.

The decrease was largely driven by a 16.8% drop in the value of oil and gas exports, which stood at RO9.775bn, compared to RO11.753bn a year earlier. In line with weaker global oil prices, the average price of Omani crude fell 12.8% to US$72 per barrel in the first nine months of 2025 from US$82.6 per barrel in the same period last year, despite oil production and export volumes remaining broadly unchanged.

Non-oil exports, however, posted robust growth, increasing 9.4% to RO4.421bn from RO4.042bn a year earlier. Re-exports edged down 0.8% to RO1.122bn, compared to RO1.131bn during the same period in 2024.

Merchandise imports increased 5.6% to RO11.389bn from RO10.780bn, reflecting stronger domestic demand.

The UAE remained Oman’s leading non-oil trading partner. Exports to the UAE surged 28.8% year-on-year to RO821mn, while re-exports to the country amounted to RO433mn. Imports from the UAE also led the pack, valued at RO2.733bn. Saudi Arabia ranked second in Omani non-oil exports at RO784mn, followed by India at RO436mn. 

In re-exports, Iran and Saudi Arabia ranked second and third, valued at RO202mn and RO98mn, respectively. Among importing countries, China and Kuwait followed the UAE, with imports of RO1.166bn and RO1.042bn, respectively.

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