Oman Trade Surplus Narrows Amid Falling Oil Exports

The Central Bank of Oman has released its Annual Report 2025, detailing the country's trade and financial performance. According to the report, Omani merchandise exports fell by 7.3% to RO 23.228 billion in 2025, while imports rose by 2.8% to RO 17.313 billion.

The merchandise trade surplus narrowed by 27.9% to RO 5.914 billion, a decline of RO 2.286 billion on the year. Crude oil exports declined by 15.2% to RO 8.403 billion, with refinery exports falling by 12.6% to RO 4.089 billion and LNG exports dropping by 20.2% to RO 2.017 billion.

However, non-hydrocarbon exports of Omani origin rose by 7.8% to RO 6.715 billion, driven by machinery and mechanical appliances which more than doubled with growth of 108.9% to RO 567.6 million. The non-oil export price index rose by 1.2% over the year.

Re-exports grew by 17.2% to RO 2.002 billion, attributed to Oman's expanding role in facilitating regional trade flows and the spillover benefits generated for transport, warehousing and customs services. The UAE remained the principal destination for non-oil exports, taking 19.5%, followed by Saudi Arabia at 15.9% and India at 10.4%.