Oman’s trade surplus hits RO 1.693 billion; metal exports soar by 142.7%

The Sultanate of Oman has achieved a significant trade surplus of RO 1.693 billion by the end of February 2024, marking a notable increase from the RO 1.378 billion surplus recorded during the same period in 2023. This information comes from the latest preliminary statistics the National Centre for Statistics and Information (NCSI) released.

The data underscore a positive trend in Oman's trade balance, reflecting robust economic activities and possibly effective policy measures to boost trade. As Oman continues to navigate the complexities of the global economic landscape, this surplus is a testament to its resilience and strategic financial planning. The NCSI's figures highlight the Sultanate's ongoing efforts to enhance its trade performance and strengthen its economic foundation.

Statistics indicate that the value of commodity exports reached RO 4.414 billion by the end of February, marking a 19.5 per cent increase from RO 3.695 billion in the same period last year. Meanwhile, the value of commodity imports for the Sultanate of Oman rose to RO 2.721 billion, up by 17.4 per cent compared to RO 2.317 billion in the same period last year.