Oman Records OMR2.454 Billion Trade Surplus by End of May 2025
Muscat, The Gulf Observer: The Sultanate of Oman recorded a trade balance surplus of OMR2.454 billion by the end of May 2025, reflecting a year-on-year decrease of 38.5 percent compared to the same period in 2024, which had witnessed a surplus of OMR3.989 billion, according to preliminary data released by the National Centre for Statistics and Information (NCSI).
The decline in the trade surplus was largely driven by a 9.6 percent drop in the total value of commodity exports, which stood at OMR9.639 billion by the end of May 2025, down from OMR10.659 billion in the corresponding period of the previous year.
A key contributor to the overall decline in exports was the 15.2 percent decrease in oil and gas exports. These reached OMR6.315 billion in the first five months of 2025, compared to OMR7.444 billion in the same period of 2024, underscoring the impact of fluctuations in global energy demand and pricing on Oman’s hydrocarbon sector.
In contrast, Oman’s non-oil commodity exports showed resilience, growing by 7.2 percent to OMR2.701 billion by the end of May 2025, up from OMR2.521 billion in the same period last year. This growth reflects continued efforts to diversify the national economy and strengthen non-oil sectors.
However, re-export activity saw a downturn, with a 10.3 percent decrease recorded. Re-exports amounted to OMR623 million by the end of May 2025, compared to OMR695 million in the same timeframe in 2024.
On the import side, the Sultanate recorded a 7.7 percent increase in the total value of commodity imports, reaching OMR7.185 billion by the end of May 2025, up from OMR6.670 billion in the same period of the previous year.
The United Arab Emirates maintained its position as Oman’s top trading partner in multiple categories. Non-oil exports to the UAE reached OMR485 million — a significant 22.9 percent increase compared to the same period in 2024. The UAE also topped the list of countries to which Oman re-exported goods, amounting to OMR248 million, and remained the leading exporter to Oman, with imports valued at OMR1.651 billion.
Saudi Arabia ranked second among destinations for Omani non-oil exports, receiving goods valued at OMR451 million, followed by India with OMR280 million.
In terms of re-export destinations, Iran ranked second after the UAE with OMR109 million, followed by Saudi Arabia at OMR45 million.
For countries exporting to Oman, Kuwait secured the second position with OMR731 million worth of imports, followed by the People’s Republic of China with OMR698 million.
These figures reflect both the challenges and opportunities facing Oman’s external trade, amid global market shifts and continued national efforts toward economic diversification under the Oman Vision 2040 framework.
