Oman’s Non-Oil Exports Surge 8.6% in Q1 2025

RIYADH: Oman’s non-oil exports rose by 8.6 percent year on year in the first quarter of 2025, reaching 1.618 billion Omani rials ($4.2 billion), according to newly released figures.

These exports now represent 28.6 percent of the country’s total exports, which stood at 5.659 billion rials during the same period, the Oman News Agency reported.

The growth reflects ongoing efforts to boost non-oil trade, support domestic industries, attract foreign investment, localize development initiatives, and offer incentives to the private sector.

This aligns with Oman Vision 2040, which aims to diversify the economy, reduce oil dependence, enhance industrial and logistics sectors, and strengthen overall financial stability.

Oman’s non-oil exports comprise a wide range of products, including industrial goods, metals, plastics, machinery, electrical equipment, and chemicals.

According to the statement, the UAE remained the top importer of Omani non-oil products, with imports totaling 292 million rials in Q1 2025 — 18 percent of total non-oil exports. Saudi Arabia followed with 259 million rials, India ranked third at 172 million rials, South Korea was fourth at 154 million rials, and the US came fifth with 88 million rials.

Meanwhile, Oman’s oil exports declined in the first quarter, falling to 3.69 billion rials from 4.39 billion rials a year earlier, in line with lower global oil prices. The average price of Omani crude dropped to $75.3 per barrel, compared to $79.7 per barrel in Q1 2024.

Re-exports also decreased, totaling 351 million rials in Q1 2025, down from 434 million rials in the same period last year.

 The UAE was the top destination for re-exported goods from Oman, with imports worth 126 million rials — 35.8 percent of the total. Iran followed with 63 million rials, Kuwait with 24 million rials, Saudi Arabia with 22 million rials, and Germany with 10 million rials.

Commodity imports into Oman rose 10.9 percent year on year, reaching 4.312 billion rials in the first quarter of 2025, up from 3.889 billion rials the previous year. 

The UAE was the leading exporter to Oman, accounting for 995 million rials (23 percent of total imports). Kuwait came second with 466 million rials, followed by China (437 million rials), India (338 million rials), and Saudi Arabia (306 million rials).

Oman’s inflation up

Oman’s general inflation index increased by 0.9 percent year on year in April 2025, based on 2018 as the base year, according to the Consumer Price Index released by the National Center for Statistics and Information.

The most significant price increases were recorded in the personal goods and miscellaneous services category, which rose by 7.0 percent. 

This was followed by the health sector (3.2 percent) and transportation (3.1 percent). Prices also climbed in restaurants and hotels (1.5 percent), clothing and footwear (0.6 percent), culture and entertainment (0.3 percent), and education (0.1 percent).

Conversely, the food and non-alcoholic beverages category saw a decline of 0.3 percent, while furniture, household equipment, and maintenance prices dipped 0.1 percent.

Prices in housing, utilities, communications, and tobacco remained stable with no notable changes.