Oman's Non-Oil Exports Surge Amid Decline in Oil Revenues

Strategic Insights -

Oman's non-oil export sector has shown impressive growth in the first eight months of 2025, with electrical machinery and equipment witnessing the sharpest increase of 195.5%. This surge in exports, coupled with a 10.2% rise in chemical products and 12.1% growth in manufactured goods, has contributed significantly to the country's trade surplus. Meanwhile, the oil and gas sector has faced a decline, with crude oil prices falling by 16.6% and refined oil prices decreasing by 17.1%.

Key Takeaways:

  • Non-oil exports increased by 9.4% to a total value of RO 4.4 billion from January to August 2025.
  • Electrical machinery and equipment recorded the sharpest growth among non-oil products, rising by 195.5% to RO 429 million.
  • Other manufactured goods, including mechanical parts and consumer products, increased by 12.1% to RO 757 million.
  • Products of chemical industries rose by 10.2% to RO 561 million.
  • Base metals and their articles climbed 3.3% to RO 912 million.
  • Plastics and rubber products were stable at RO 636 million, showing a 0.4% increase.
  • Mineral products declined by 5.8% to RO 1.13 billion.
  • Oil and gas exports declined by 16.8%, totaling RO 9.8 billion.
  • Crude oil fell by 16.6% to RO 5.7 billion, refined oil decreased by 17.1% to RO 2.7 billion, and liquefied natural gas dropped by 17.2% to RO 1.4 billion.
  • Re-exports dipped slightly by 0.8% to RO 1.1 billion.
  • Total merchandise exports stood at RO 15.3 billion, reflecting a 9.5% overall decrease.
  • Imports rose 5.6% to RO 11.4 billion, driven by transport equipment and electrical machinery.
  • Oman maintained a trade surplus of RO 3.9 billion, supported by the continued expansion of non-oil sectors and diversification efforts under Oman Vision 2040.

Statistics:

  • Non-oil exports increased by 9.4% to RO 4.4 billion.
  • Electrical machinery and equipment growth rate: 195.5%
  • Other manufactured goods growth rate: 12.1%
  • Chemical products growth rate: 10.2%
  • Base metals growth rate: 3.3%
  • Plastics and rubber products growth rate: 0.4%
  • Mineral products decline rate: 5.8%
  • Oil and gas exports decline rate: 16.8%
  • Crude oil decline rate: 16.6%
  • Refined oil decline rate: 17.1%
  • Liquefied natural gas decline rate: 17.2%
  • Re-exports decline rate: 0.8%
  • Total merchandise exports: RO 15.3 billion
  • Imports: RO 11.4 billion
  • Trade surplus: RO 3.9 billion

Sources:

  • Oman's National Centre for Statistics and Information (NCSI)