Complex Made Simple

Oman Exports OR13.5 billion by August

The total value of exports from Oman including oil and gas, non-oil products and re-exports recorded a decline of 5.9% by the end of August 2014 totaling 13.5 billion O.R when compared with 14.3 billion O.R recorded during the same period in 2013.

Recently released trade and export statistics issued by the National Centre for Statistics and Information (NCSI) reveals the factors behind the decline, which include a decrease in the value of oil and gas exports by 6.6% by the end of August 2014, declining from 9.6 billion O.R recorded by the end of August 2013, to 9 billion O.R recorded during the same period in 2014.

During the same period, the total value of re-exports also declined by 15.4%, recording re-exports of 2 billion O.R compared with a total of 2.4 billion O.R recorded during the same period in 2013. One the other hand, non-oil exports increased by 6.8 %, totaling 2.5 billion O.R by the end of August 2014 compared with 2.3 billion O.R recorded by the end of August 2013.

According to the NCSI report, the total value of merchandise imports through sea, land and air outlets declined by 13.1% by the end of August 2014, from a total of 8.6 billion O.R by the end of August 2013 to 7.5 billion O.R during the same period in 2014. The total volume of merchandise imports by weight also registered a drop of 30.2% by the end of August 2014, totaling 13.2 Million Tons versus 19 Million Tons by the end of August 2013.

The total value of merchandise imports through sea outlets declined by the end of August 2014 by 23% to 4.7 billion O.R when compared with 6.1 billion O.R during the same period in 2013. Meanwhile, by volume, imports by sea declined by 36.5% from 11.8 Million Tons by the end of August 2013 to 7.5 Million Tons by the end of August 2014. On the other hand, the value of merchandise imports arriving via land outlets grew by 26.1%, recording 2.2 billion O.R by the end of August 2014 compared with 1.7 billion O.R during the same period in 2013, however the volume by weight declined by 19.4%, dropping from 7 Million Tons by the end of August 2013 to 5.7 Million Tons by the end of same period in 2014.

During the same period the total value of merchandise imports arriving via air outlets declined by 23.4%, from 752.8 million O.R recorded by the end of August 2013 to 576.3 million O.R recorded by the end of August 2014. Additionally, the volume of air imports by weight recorded of drop of 49.8%, with 31,400 tons recorded by the end of August 2014, compared with 62,600 tons by the end of August 2014.