Saturday 20 / June / 2026
MUSCAT: Oman's trade balance posted a surplus of OMR1.54 billion by the end of March 2026, slightly higher than the OMR1.53 billion surplus recorded during the same period last year, according to preliminary data released by the National Centre for Statistics and Information (NCSI).
The figures show that total merchandise exports reached OMR5.3 billion in the first quarter of 2026, down 8.5 percent from OMR5.8 billion during the corresponding period of 2025.
Merchandise imports also declined, falling 11.7 percent to OMR3.8 billion compared with OMR4.3 billion a year earlier. The sharper drop in imports helped maintain the country's trade surplus despite lower export earnings.
The decline in exports was primarily driven by lower oil and gas revenues. Exports of oil and gas totaled OMR3.4 billion by the end of March 2026, a 13 percent decrease from OMR3.9 billion recorded during the same period in 2025.
Non-oil merchandise exports remained relatively stable, slipping by just 0.6 percent to OMR1.61 billion from OMR1.62 billion a year earlier.
In contrast, re-exports showed positive growth, rising 4.6 percent to OMR367 million by the end of March 2026, compared with OMR351 million during the first quarter of 2025.
The United Arab Emirates remained Oman's largest trading partner for non-oil exports, accounting for OMR382 million worth of shipments. The UAE also led as a destination for Omani re-exports, receiving goods valued at OMR102 million. Total trade between Oman and the UAE reached OMR1.1 billion during the period.
Saudi Arabia ranked second among destinations for Oman's non-oil exports at OMR201 million, followed by India at OMR156 million.
For re-exports, Saudi Arabia shared second place with trade valued at OMR102 million, while Iran ranked third at OMR48 million.
On the import side, China was one of Oman's largest suppliers, accounting for imports worth OMR537 million, followed by Saudi Arabia with OMR308 million.
The latest figures highlight the resilience of Oman's external trade position, supported by stable non-oil exports, growing re-export activity and lower import costs, despite a decline in oil and gas export revenues.
