Oman’s trade surplus hits RO 877 million in January 2024

Oman’s trade surplus hits RO 877 million in January 2024

The National Center for Statistics and Information unveils a substantial trade surplus for January 2024.

The post Oman’s trade surplus hits RO 877 million in January 2024 appeared first on The Arabian Stories News.Muscat: Preliminary statistics released by the National Center for Statistics and Information shed light on Oman’s flourishing trade scenario. The data reveals that the Sultanate’s trade balance witnessed a notable uptick, reaching a surplus of RO 877 million by the end of January 2024. This surge reflects a substantial growth trajectory compared to the same period in 2023, where the surplus stood at RO 686 million.

The statistical breakdown showcases a robust performance in Oman’s export sector, with merchandise exports totalling RO 2 billion and 303 million. This marks a commendable 16.7 per cent increase from the corresponding period in the previous year. On the import front, merchandise imports climbed to RO 1 billion and 426 million Omani riyals, showcasing a 10.6 per cent rise compared to January 2023.

The surge in export values can be primarily attributed to the notable increase in Oman’s oil and gas exports, totalling RO 1 billion and 450 million, marking a 9.6 per cent rise from January 2023. Of this, crude oil exports soared