Oman's trade surplus tops OMR2 billion by end of April 2026 as re-exports surge

The Sultanate of Oman achieved a trade surplus of OMR2.09 billion by the end of April 2026, according to preliminary statistics from the National Centre for Statistics and Information (NCSI). While this figure is slightly below the OMR2.11 billion surplus recorded during the same period in 2025, it underscores the continued strength of Oman's foreign trade sector. This performance is bolstered by robust re-export activity and steady commercial flows.

NCSI data reveals that total merchandise exports amounted to OMR7.6 billion in the first four months of 2026. Merchandise imports totaled OMR5.5 billion, resulting in the significant trade surplus. Oil and gas exports remained the primary driver of total exports, reaching OMR4.7 billion by the end of April. However, this sector experienced a 7.5 percent decrease compared to the corresponding period in 2025, when export earnings stood at OMR5.1 billion, reflecting softer hydrocarbon prices or volumes.

Non-oil exports also saw a modest decline, totaling OMR2.1 billion compared to OMR2.2 billion in the previous year. Despite this slight decrease, non-oil exports continue to be crucial for Oman's economic diversification strategy and its expansion into international markets.

A notable highlight in the latest trade figures is the substantial increase in re-exports. The value of re-exported goods climbed to OMR770 million by the end of April 2026, a significant jump from OMR462 million in the same period of 2025, marking a strong 66.8 percent growth. This surge emphasizes Oman's expanding importance as a regional logistics and trade hub, leveraging its strategic geographic location and advanced port infrastructure.

The United Arab Emirates (UAE) remains Oman's largest trading partner for non-oil exports, receiving goods worth OMR480 million. Saudi Arabia followed with OMR233 million, then India (OMR214 million), the United States (OMR168 million), and South Korea (OMR160 million). The UAE also leads in re-export activity, accounting for OMR331 million worth of goods, followed by Saudi Arabia (OMR140 million) and Iran (OMR98 million).

On the import side, the UAE is Oman's largest trading partner, exporting goods valued at OMR1.5 billion to the Sultanate during January-April. China ranks second with imports of OMR801 million, followed by Turkey (OMR422 million), Saudi Arabia (OMR413 million), and India (OMR392 million). These trade statistics demonstrate the resilience of Oman's external sector, even with a decrease in oil and gas revenues, supported by strong re-export growth and consistent trade with key partners.