Oman trade surplus holds at RO 1.54 billion
MUSCAT: Oman’s trade surplus remained broadly stable at RO 1.54 billion in the first quarter of 2026, as a decline in exports was largely offset by lower imports, according to preliminary data released by the National Centre for Statistics and Information (NCSI).
The surplus compared with RO 1.53 billion recorded during the same period of 2025.
Total merchandise exports fell 8.5 per cent year-on-year to RO 5.3 billion by the end of March, down from RO 5.8 billion a year earlier. Merchandise imports also declined, dropping 11.7 per cent to RO 3.8 billion from RO 4.3 billion during the corresponding period of 2025.
The fall in exports was primarily driven by lower oil and gas export revenues. Exports of oil and gas amounted to RO 3.4 billion during the first three months of the year, down 13 per cent from RO 3.9 billion in the same period last year.
Non-oil exports proved more resilient, edging down just 0.6 per cent to RO 1.61 billion from RO 1.62 billion a year earlier, highlighting the relative stability of the Sultanate’s non-hydrocarbon export sector.
Meanwhile, re-exports recorded positive growth. The value of re-exported goods rose 4.6 per cent to RO 367 million by the end of March 2026, compared with RO 351 million during the same period of 2025.
The United Arab Emirates remained Oman’s largest non-oil export market, receiving goods worth RO 382 million. The UAE also topped the list of re-export destinations from Oman, accounting for RO 102 million of re-export trade.
Saudi Arabia ranked as the second-largest destination for Omani non-oil exports at RO 201 million, followed by India at RO 156 million.
In re-exports, Kuwait followed the UAE with RO 102 million, while Iran ranked third at RO 48 million.
On the import side, the UAE remained Oman’s largest trading partner, exporting goods worth RO 1.1 billion to the Sultanate during the first quarter.
China ranked second among import sources with goods valued at RO 537 million, followed by Saudi Arabia at RO 308 million.
The figures indicate that despite lower hydrocarbon export earnings, Oman maintained a strong trade surplus during the first quarter, supported by resilient non-oil exports, rising re-export activity and a sharper decline in imports. — ONA
