Oman Maintains Trade Surplus Above OMR2 Billion as Re-Exports Surge

Oman recorded a trade surplus of 2.09 billion Omani rials ($5.4 billion) during the first four months of 2026, supported by merchandise exports that continued to exceed imports despite a decline in oil and gas export earnings.

Preliminary figures released by the National Centre for Statistics and Information showed that total merchandise exports reached 7.6 billion rials by the end of April, while imports stood at 5.5 billion rials. The resulting surplus was only slightly lower than the 2.11 billion rials recorded during the same period in 2025, reflecting stable external trade performance.

Oil and gas exports, which remain a major contributor to the country’s economy, declined by 7.5 percent year-on-year to 4.7 billion rials, compared with 5.1 billion rials during the corresponding period last year. Non-oil exports also edged lower, totaling 2.1 billion rials against 2.2 billion rials a year earlier.

Despite the softer export performance in traditional sectors, Oman recorded a sharp rise in re-export activity, highlighting the growing role of logistics and regional trade in the country’s economy.

According to the Oman News Agency, the value of re-exports climbed to 770 million rials by the end of April, up from 462 million rials during the same period in 2025. The increase of 66.8 percent points to stronger regional demand and expanding trade links across neighboring markets.

The latest figures come as Gulf countries continue to strengthen non-oil trade and logistics activities. Saudi Arabia recently reported a significant increase in its trade surplus, driven by higher oil exports alongside growth in non-oil exports and re-exports. The United Arab Emirates also reported strong re-export performance, reinforcing its position as one of the region’s leading commercial hubs.

The UAE remained Oman’s largest destination for non-oil exports during the January-April period, receiving goods worth 480 million rials. Saudi Arabia ranked second with imports valued at 233 million rials, followed by India at 214 million rials. The United States and South Korea completed the top five destinations, importing Omani goods worth 168 million rials and 160 million rials, respectively.

In the re-export segment, the UAE was also the leading market, accounting for 331 million rials, followed by Saudi Arabia with 140 million rials and Iran with 98 million rials.

On the import side, the UAE remained Oman’s largest supplier, exporting goods worth 1.5 billion rials to the Sultanate. China ranked second with imports valued at 801 million rials, while Türkiye supplied goods worth 422 million rials. Saudi Arabia and India followed with imports totaling 413 million rials and 392 million rials, respectively.

The latest trade data highlights Oman’s continued efforts to diversify its economy, with expanding re-export activity helping offset weaker energy export revenues while maintaining a healthy trade surplus.