Oman-US trade trade reaches $2 billion

Oman-US trade trade reaches $2 billion

Muscat: Trade between the Sultanate of Oman and the United States has seen a significant increase since the end of 2020, according to the US Census Bureau. Total trade reached over $2 billion as of the end of August 2021, surpassing the total for all of 2020. This year Oman is running a trade surplus with the United States of $151 million, according to the latest figures. In 2020, the top Omani exports to the United States were aluminium, plastics, chemicals, other commodities, and goods in transit to Canada. "In January 2021 alone, the US imported over $200 million of Omani products," said Ali Daud, President and Chairman Emeritus of the Oman American Business Council (US Chamber of Commerce affiliate in Oman). "This is more than twice the average we've seen in the past ten years. The trade surplus is a very healthy indication that the world's largest economy, with which Oman has a unique trade agreement, is buying Omani products," Daud continued. "The time is now to strengthen the relationship further by establishing a commercial presence for Oman in the United States. This will make it easier for Omani exporters to navigate and penetrate the US market. Oman is