Oman records trade balance surplus of OMR 6.997 billion

Oman records trade balance surplus of OMR 6.997 billion

Muscat: The trade balance of the Sultanate of Oman recorded a surplus of OMR 6. 997 billion at the end of November 2023, compared to a surplus of OMR 9. 587 billion during the same period in 2022, according to preliminary statistics issued by the National Center for Statistics and Information. Statistics indicate that the value of merchandise exports at the end of last November reached OMR 20. 636 billion, declining by 11. 4 per cent compared to the same period in 2022, which recorded OMR 23. 289 billion. The value of merchandise imports to the Sultanate of Oman amounted to OMR 13. 639 billion, a decrease of 0. 5 per cent at the end of November 2023 compared to the same period last year, which amounted to OMR 13. 702 billion. The decline in the value of exports is mainly due to the decline in the value of the Sultanate of Oman's oil and gas exports, which now amounts to OMR 12. 525 billion. At the end of November 2022, it amounted to OMR 15. 215 billion. On the other hand, the value of the Sultanate of Oman's exports of crude oil amounted to OMR 8. 9 billion by