Muscat – Oman’s trade surplus jumped 37.2% year-on-year to RO3.4bn during the first five months of 2026, driven by a more than 10% increase in merchandise exports, while imports remained broadly stable, according to data released by the National Centre for Statistics and Information (NCSI).

The sultanate’s trade surplus stood at RO2.5bn during the first five months of 2025.

The country’s total merchandise exports rose 10.1% to approximately RO10.6bn in the five months ended May 2026, compared with RO9.6bn in the corresponding period of 2025. In contrast, merchandise imports increased by just 0.8% to RO7.22bn from RO7.20bn a year earlier.

The stronger growth in exports relative to imports helped widen Oman’s overall trade surplus during the period, strengthening the country’s external trade position.

The increase in exports was primarily supported by higher oil and gas revenues. The value of oil and gas exports rose 8.4% to RO6.8bn by the end of May 2026, compared with RO6.3bn during the same period of 2025.

Non-oil exports also registered growth, although at a more modest pace. Their value increased 1.5% to RO2.74bn, compared with RO2.70bn a year earlier, indicating continued expansion in Oman’s efforts to diversify its export base beyond hydrocarbons.

The United Arab Emirates remained Oman’s leading destination for non-oil exports, with shipments valued at RO645mn during the first five months of 2026. Saudi Arabia ranked second with RO283mn, followed closely by India with RO280mn.

The UAE also remained the largest source of merchandise imports into Oman, with goods valued at RO1.9bn during the period. China ranked second with imports worth RO986mn, while Turkey came third with RO550mn.

Re-exports surge 64%

Oman’s re-export activity recorded particularly strong growth during the first five months of the year. The value of re-exports surged 64% to RO1bn this year, compared with RO623mn during the corresponding period of 2025.

The UAE was the leading destination for Omani re-exports, accounting for RO432.7mn. Natural or cultured pearls, precious or semi-precious stones, precious metals and their products, jewellery and coins constituted the largest category, valued at RO271.4mn. This was followed by machinery, mechanical appliances, electrical equipment and their parts, valued at RO79.1mn.

Iran ranked second among re-export destinations, with shipments valued at RO172.8mn. Food, beverages, liquids, tobacco and manufactured tobacco substitutes accounted for the largest share at RO83.5mn, followed by machinery, mechanical appliances, electrical equipment and their parts at RO31.6mn.

Saudi Arabia ranked third, with re-exports valued at RO164.6mn. Vehicles, aircraft, ships and similar transport equipment dominated shipments to the kingdom, accounting for RO148.4mn, followed by miscellaneous goods and products at RO4.6mn.

Re-exports to Hong Kong amounted to RO18.5mn, led by instruments and devices for optics, photography, measurement, testing, medicine and surgery, as well as watchmaking and musical instruments and their parts and accessories, valued at RO11mn. Natural or cultured pearls, precious or semi-precious stones, precious metals and their products, jewellery and coins accounted for a further RO6mn.

Meanwhile, re-exports to Russia stood at RO16.2mn, with antiques, collectibles and artefacts accounting for RO14.1mn, followed by machinery, mechanical appliances, electrical equipment and their parts at RO1.7mn.