Oman’s Trade Balance Surplus by 2.6 Billion Riyals
The Sultanate of Oman’s trade balance reached a surplus of 2.6 billion Omani riyals by the end of March, up from 1.93 billion riyals in the same period last year. This positive trade balance is a good sign for Oman’s economy and reflects the country’s strong export performance, according to preliminary statistics from the National Center for Statistics and Information.
The increase in exports was primarily due to a rise in the value of the Sultanate’s oil and gas exports, which reached 3.72 billion riyals, a 3.1% increase from the previous year. Non-oil merchandise exports also saw a significant increase, rising by 44.9% to 2.33 billion riyals. Re-exports from the Sultanate also increased to 442 million riyals, a 26.8% increase from the previous year.
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