Trade Trend

In 2023, Oman's total export value is 64.07Billion USD, total import value is 21.04Billion USD, Surplus is 43.03Billion USD, and foreign trade dependency is 0.787. In 2023，Oman's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(29.60Billion USD), Petroleum gases and other gaseous hydrocarbons(11.04Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(7.63Billion USD), top export destinations are China(31.28Billion USD), South Korea(5.38Billion USD), India(4.94Billion USD). In 2023, Oman's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(2.33Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(1.89Billion USD), Iron ores and concentrates; including roasted iron pyrites(1.06Billion USD), top import origins are India(4.48Billion USD), China(3.80Billion USD), United States(1.86Billion USD).

Comparing to 2022, Oman's total export value increased 41.08Billion USD(178.63%) in 2023, this could result from its export increases of products such as Petroleum gases and other gaseous hydrocarbons(10.90Billion USD or 7.57Thousands%), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(4.51Billion USD or 144.31%), Iron or nonalloy steel; semifinished products thereof(1.41Billion USD or 135.59%) and export increases to countries/economics such as China(30.65Billion USD or 4.89Thousands%), South Korea(5.20Billion USD or 2.92Thousands%), India(2.69Billion USD or 119.22%). Comparing to 2022, Oman's total import value decreased -17.53Billion USD(-45.44%) in 2023, this could result from its import decreases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-6.27Billion USD or -72.96%), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(-566.14Million USD or -78.01%), Telephone sets, including smartphones and other telephones for cellular/wireless networks; other apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks), excluding items of 8443, 8525, 8527, or 8528(-494.41Million USD or -66.18%), and its import decreases from countries/economies such as Bahrain(-540.28Million USD or -58.69%), Pakistan(-337.56Million USD or -66.11%), Luxembourg(-276.53Million USD or -99.10%).

Cumulated to first 7 months of 2024, Oman's total export value is 24.57Billion USD, total import value is 8.68Billion USD, and tradesurplus is 15.89Billion USD. Cumulated to first 7 months of 2024, Oman's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(12.43Billion USD), Petroleum gases and other gaseous hydrocarbons(4.03Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(2.90Billion USD), and top export destinations are China(13.42Billion USD), South Korea(2.50Billion USD), India(1.53Billion USD). Cumulated to first 7 months of 2024, Oman's top import products are Petroleum oils and oils obtained from bituminous minerals; crude(12.43Billion USD), Petroleum gases and other gaseous hydrocarbons(4.03Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(2.90Billion USD), and top import origins areChina(2.35Billion USD), India(1.32Billion USD), United States(689.43Million USD).