MUSCAT - Official data released on Saturday showed that the Sultanate of Oman recorded a trade balance surplus of OMR 1.54 billion (around USD 3.99 billion) during the first quarter of this year.

This surplus reflects a slight increase compared to the OMR 1.53 billion (approximately USD 3.97 billion) surplus registered during the exact same period of the previous year, according to official reports.

Statistics issued by the Omani National Center for Statistics and Information indicated that the total value of commodity exports reached OMR 5.3 billion (around USD 13.8 billion) by the end of March.

This export figure represents a decrease of 8.5 percent compared to the same period last year, despite the Sultanate maintaining a positive and substantial overall trade balance surplus throughout the first quarter.

The data further revealed that total commodity imports into Oman decreased by 11.7 percent to reach OMR 3.8 billion (around USD 9.8 billion) compared to OMR 4.3 billion last year.

The center attributed the decline in commodity exports mainly to lower oil and gas export values, which fell 13 percent to reach OMR 3.4 billion (about USD 8.8 billion) by March.

Meanwhile, non-oil exports decreased slightly by 0.6 percent to reach OMR 1.61 billion (around USD 4.18 billion) by the end of March, reflecting stable performance across other various non-oil economic sectors.

According to the official figures, re-exports from the Sultanate rose to OMR 367 million (around USD 953 million) by the end of March, marking a growth of 4.6 percent year-on-year.

The UAE topped the list for non-oil exports at OMR 382 million (USD 992 million) and re-exports at OMR 102 million, while leading importing countries at OMR 1.1 billion.
Saudi Arabia ranked second in non-oil exports at OMR 201 million (USD 522 million), followed by India at OMR 156 million, while Saudi Arabia also ranked second in re-exports at OMR 102 million.

Iran came third in re-exports at OMR 48 million (USD 125 million), while China ranked second in imports to Oman at OMR 537 million, followed closely by Saudi Arabia at OMR 308 million. (end)mjb.ahm

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