The trade balance of the Sultanate of Oman recorded a surplus of 2.6 billion Omani riyals, at the end of last March, compared to a surplus of 1.93 billion Omani riyals, during the same period in 2023.
Preliminary statistics issued by the National Center for Statistics and Information in the Sultanate revealed that the value of merchandise exports by the end of March 2024 recorded 6.50 billion riyals, an increase of 16.7% over the same period last year, amounting to 5.57 billion riyals, while the value of merchandise imports reached 3.89 billion riyals, an increase of 16.7% over the same period last year, which amounted to 5.57 billion riyals. 6.9% compared to the end of March 2023, amounting to 3.64 billion riyals.
The Center attributed the increase in the value of exports mainly to the increase in the value of the Sultanate’s oil and gas exports to 3.72 billion riyals, or 3.1%, from the end of March 2023, which amounted to 3.60 billion riyals.
Statistics revealed that the value of non-oil merchandise exports increased by 44.9% by the end of March 2024 to reach 2.33 billion riyals, compared to the end of March 2023, amounting to 1.61 billion riyals.
The value of re-exports from the Sultanate increased to 442 million, or 26.8%, by the end of March 2024, compared to the end of March 2023. (WAM)