Muscat: The Omani non-oil exports are one of the main pillars for realizing sustainable economic development in the Sultanate of Oman as they contribute to diversifying sources of national income and reducing dependence on oil as a major source of revenue. Promoting Omani exports provides opportunities to expand the base of the national production, stimulate growth in various economic sectors, and generate more job opportunities. It also contributes to enhancing the competitiveness of Omani products on the global level, by improving quality, innovation, and benefiting from international markets.
According to Oman News Agency, the Ministry of Commerce, Industry and Investment Promotion is always keen to provide the best services to Omani exporters to enter new export markets and enhance current exports to international ones. Acting in cooperation with all stakeholders from the government and private sectors, the ministry proposes promotional policies and plans to diversify the balance of trade exchange.
The
non-oil Omani exports witnessed remarkable growth, accounting for 33 percent of total Omani exports at the end of the first half of last year (2024). The volume of non-oil Omani exports until the end of June 2024 amounted to about RO 3.575 billion, compared to the same period in 2023, which amounted to RO 3.307 billion, recording an increase in the value of exports by more than 8 percent. Mineral products topped the list of non-oil commodity exports, with a value of RO 1.304 billion compared to the same period in 2023, which reached RO 1 billion, an increase of 21.5 percent. Ordinary metal products and their products came in second place, with a value of RO 671 million, an increase of 7.3 percent, followed by plastic products and rubber products, with an export value of RO 473 million, an increase of 11.5 percent. The value of exports of other products amounted to about RO 437 million by the end of last June.
The Sultanate of Oman seeks to boost its presence in regional and global markets, to achieve economi
c diversification and increase the contribution of non-oil sectors to the gross domestic product. Oman eyes many markets, including the Gulf countries, East Asia, the Indian subcontinent, African countries, the United States of America, Europe and China.
Ibtisam Ahmed Al Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, explained that non-oil Omani exports are a fundamental pillar for boosting the national economy and achieving the economic diversification that the Sultanate of Oman seeks within its future vision. She pointed out that there are wide opportunities for the growth of non-oil exports. She affirmed that enhancing the competitiveness of the Omani products in global markets is an effective means of stimulating the local economy, increasing the contribution of the private sector, and opening new horizons for investment.
On her turn, Lubna Mohammed Al Harthy, Head of the Export Development Department at the Ministry of Commerce, Industr
y and Investment Promotion, pointed out that marketing Omani products outside Oman comes through the integration of efforts between government units, companies and exporters, in addition to benefiting from regional and international trade agreements. She added that the ministry has devised plans to promote Omani exports abroad and explore new foreign markets. The ministry, added Lubna, has also organized a number of events during the past period in coordination and integration with the Omani Products Promotion Committee (OPEX), which comprises the Ministry of Commerce, Industry and Investment Promotion, Oman Chamber of Commerce and Industry, the Public Establishment for Industrial Estates (Madayn), and the Authority for Small and Medium Enterprises Development (ASMED).