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FINANCIAL NEWS
Omani-German trade up 15.5% in 2010
20 Jun 2011
(MENAFN) German Trade and Invest representative, Martin Boll, stated that the trade between Germany and the Sultanate of Oman hiked 15.5 percent last year to USD747 million compared to USD647 million a year before, reported Times of Oman.
Boll also said that the bigger part of this figure represented German exports to Oman which were at USD723 million, while Omani exports to Germany were a humble USD24 million.
The representative of Germany’s foreign trade and inward investment agency explained that the low rate of German imports from Oman was due to Omani exports being mainly oil and natural gas, which Germany imports from Norway.
It is worth noting that Oman’s imports from Germany touched a peak 3 years ago as they hit USD1.392 billion when the gulf country was working on a number of large projects in 2008.
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