Oman’s Wholesale and Retail Sector Grows 5% as Trade Activity Expands

Oman’s commercial activity continued to expand in the first half of the year, with the wholesale and retail sector recording 5% growth in gross domestic product to 1.74 billion Omani rials ($4.5 billion), according to official data.

Figures from the National Centre for Statistics and Information showed that foreign investment in commercial activities increased 9.7% to about 305.3 million rials. Re-exports also rose 13.6% to approximately 1.14 billion rials.

The growth comes as disruptions to shipping routes across the Gulf since late February have affected regional trade, increasing attention on alternative maritime routes and Oman’s position along important commercial corridors.

Oman’s strategic location, combined with its network of ports, airports and land crossings, has supported its role in regional and international trade, the Oman News Agency reported.

The expansion is also part of the government’s broader economic diversification programme under Oman Vision 2040, which aims to reduce reliance on hydrocarbons and develop sectors such as transport, logistics, manufacturing and trade.

Nasra bint Sultan Al-Habsi, director general of commerce at the Ministry of Commerce, Industry and Investment Promotion, said the latest figures showed continued growth in commercial activity and highlighted the need to improve the country’s business environment.

She said government efforts were focused on supporting investment and trade while strengthening Oman’s connections with regional and international markets.

Al-Habsi also pointed to the 13.6% increase in re-exports as evidence of greater use of Oman’s trade and logistics infrastructure.

The ministry is working with other government bodies to make it easier for goods to move through the country’s entry points. Measures include simplifying import, export and re-export procedures and improving coordination between government services used by private-sector companies.

Officials are also working to improve regulations and expand digital services through the Oman Business Platform. The aim is to reduce the time and effort required to complete commercial transactions and provide investors and traders with easier access to government services.

The rise in foreign investment in commercial activities was described by Al-Habsi as a positive sign of the sector’s attractiveness. The ministry is seeking to draw more investment and connect investors with opportunities across the economy.

Authorities are also working with private-sector companies and other government agencies to address difficulties faced by traders and exporters. Work includes developing digital services, reviewing regulations and improving procedures related to trade.

Oman is seeking to strengthen its position as a gateway between regional and international markets as it pursues the economic diversification objectives of Vision 2040. Growth in commercial activity, foreign investment and re-exports is expected to support that strategy while increasing the contribution of trade and logistics to the wider economy.