In the first half of 2026, Oman achieved a significant trade surplus, reaching approximately OMR4.7 billion, marking a 51% increase from the OMR3.1 billion surplus recorded during the same period in the previous year. This growth was propelled by a substantial rise in merchandise exports, which surged by 15.3% to nearly OMR13.2 billion by the end of June, largely due to a boost in oil and gas exports. The value of oil and gas exports increased by 16.5%, amounting to OMR8.6 billion, up from OMR7.4 billion the year before.
Non-oil exports also saw an upward trajectory, climbing 11.4% to around OMR3.6 billion, while re-exports experienced a 20% growth, reaching OMR978 million. On the other hand, merchandise imports showed a modest increase of 2.1%, totaling OMR8.6 billion. These figures underscore the robust performance of Oman’s export sector, particularly in the oil and gas industry, which remains a critical component of the nation’s economy.
The United Arab Emirates (UAE) emerged as the leading destination for Oman’s non-oil exports, receiving products valued at OMR1.134 billion. Following the UAE, Saudi Arabia imported goods worth OMR357 million, and India took the third spot with imports totaling OMR333 million. These key trade relationships highlight the importance of regional partners in supporting Oman’s export market.
In terms of re-exports, Iran was the top recipient, with OMR254 million worth of goods re-exported from Oman. The UAE and Saudi Arabia were also significant destinations, receiving OMR221 million and OMR188 million, respectively. These figures illustrate Oman’s strategic position as a hub for re-export activities in the region.
On the import side, the UAE was Oman’s most substantial trading partner, supplying goods valued at OMR2.423 billion. China followed closely, contributing OMR1.194 billion to Oman’s imports, while Türkiye ranked third with imports amounting to OMR676 million. This data reflects the diversified nature of Oman’s import sources, emphasizing its strong economic ties with both regional and global partners.