Muscat – Omani non-oil exports are one of the main pillars for achieving sustainable economic development in the sultanate, as they contribute to diversifying sources of national income and reducing dependence on oil as a major source of revenue.
Promoting Omani exports provides opportunities to expand the base of national production, stimulate growth in various economic sectors, and generate more job opportunities. It also contributes to enhancing the competitiveness of Omani products on the global stage, by improving quality, innovation, and benefiting from international markets.
The Ministry of Commerce, Industry and Investment Promotion is always keen to provide the best services to Omani exporters, helping them enter new export markets and enhance current exports to international ones. In cooperation with all stakeholders from the government and private sectors, the ministry proposes promotional policies and plans to diversify the balance of trade.
Non-oil Omani exports have witnessed remarkable growth, accounting for 33% of total Omani exports at the end of the first half of 2024. The volume of non-oil Omani exports until the end of June 2024 amounted to approximately RO3.575bn, compared to the same period in 2023, which amounted to RO3.307bn, reflecting an increase in export value of more than 8%.
Mineral products topped the list of non-oil commodity exports, with a value of RO1.304bn, compared to RO1bn for the same period in 2023, an increase of 21.5%. Ordinary metal products and their derivatives came second, with a value of RO671mn, an increase of 7.3%, followed by plastic and rubber products, with an export value of RO 473mn, an increase of 11.5%.
Oman seeks to strengthen its presence in regional and global markets to achieve economic diversification and increase the contribution of non-oil sectors to the gross domestic product. Oman is targeting several markets, including the Gulf countries, East Asia, the Indian subcontinent, African countries, the United States of America, Europe, and China.
Ibtisam Ahmed al Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, explained that non-oil Omani exports are a fundamental pillar for boosting the national economy and achieving the economic diversification that the sultanate seeks within its future vision.
She pointed out that there are significant opportunities for the growth of non-oil exports. She affirmed that enhancing the competitiveness of Omani products in global markets is an effective means of stimulating the local economy, increasing the contribution of the private sector, and opening new horizons for investment.
Lubna Mohammed l Harthy, Head of the Export Development Department at the Ministry of Commerce, Industry and Investment Promotion, pointed out that marketing Omani products abroad involves the integration of efforts between government agencies, companies, and exporters, in addition to benefiting from regional and international trade agreements.
ONA
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