Oman’s Aluminium ingot export remains vacillating during 2017-20

Oman is a free market economy, but the government is at present the most important factor in the economy, both as an employer and as a purchaser of goods and services. The Omani economy has been growing steadily over the last 25 years and considerable development has taken place. Sohar Aluminium is Oman’s first foray into Aluminium industry.

The Gulf Nation’s aluminium ingot export during 2017-19 exhibited with dwindling image as the export volume during the phase remained at 583,038 tonnes and the revenue income stood at $708.51 million. The estimated export volume for 2020 has been analysed at 176,942 tonnes and the income to stretch at $233.47 million. However, when the estimated export volume and income have been summed up with the existing three years it stands to 759,980 tonnes and $941.98 million respectively.

The major importing countries for Oman’s aluminium ingot export are Bahrain, Belgium, China, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Netherlands, Romania, etc.

In 2017 the aluminium ingot export of Oman stood at 110,212 tonnes and the foreign revenue generated remained $108.84 million, whereas in 2018 the country’s aluminium ingot saw a surge in the export by 154.18% and the income jumped to $403.35 million.

Oman’s export of aluminium ingot in 2019 saw a dip by 31.22%, as the export volume remained at 192,681 tonnes and the revenue income also saw a drop and remained at $196.32 million.

The projected export volume for 2020 has been analysed at 176,942 tonnes, again saw a de-growth by 8.16%, while the income increased and climbed to $233.47 million.