In the first quarter of 2025, Oman’s non-oil exports increased by 8% year over year to 1.618 billion Omani rials (USD 4.2 billion), according to recently disclosed data. According to the Oman News Agency, these exports now account for 28.6% of the nation’s total exports, which over the same period totalled 50.659 billion rials.
Continued efforts to increase non-oil trade, assist domestic industries, draw in foreign investment, localise development projects, and provide incentives to the private sector are all reflected in the growth. Oman’s non-oil exports comprise a wide range of products, including industrial goods, metals, plastics, machinery, electrical equipment, and chemicals.
“Oman Vision 2040,” which aims to diversify the economy, reduce reliance on oil, enhance the industrial and logistics sectors, and strengthen overall financial stability, aligns with this objective. In addition to oil, Oman exports a vast array of goods, including machinery, chemicals, metals, plastics, industrial goods, and electrical equipment.
The statement claims that with imports of 292 million rials in Q1 2025, or 18% of total non-oil exports, the UAE continued to be the largest importer of Omani non-oil products. With 259 million rials, Saudi Arabia came in second, followed by India in third place with 172 million, South Korea in fourth place with 154 million, and the United States in fifth place with 88 million.
The first quarter saw a decrease in Oman’s oil exports, which fell to 3.69 billion rials from 4.39 billion rials a year earlier. This was in line with a decline in global oil prices. From USD 79.7 per barrel in Q1 2024 to USD 75.3 per barrel, the average price of Omani crude fell.
In Q1 2025, re-exports reached 351 million rials, a decrease from 434 million rials during the same period the previous year. 126 million rials, or 35.7% of the total, were imported into the UAE, making it the top destination for Oman’s reexported goods. With 63 million rials, Iran came in second, followed by Kuwait with 24 million, Saudi Arabia with 22 million, and Germany with 10 million.
Commodity imports into Oman rose 10.9% 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% 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).
Meanwhile, Oman’s general inflation index increased by 0.9% year on year in April 2025, based on 2018 as the base year, according to the Consumer Price Index released by the National Centre for Statistics and Information.
The most significant price increases were recorded in the personal goods and miscellaneous services category, which rose by 7.0%. This was followed by the health sector (3.2%) and transportation (3.1 %). Prices also climbed in restaurants and hotels (1.5%), clothing and footwear (0.6%), culture and entertainment (0.3%), and education (0.1%).