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FINANCIAL NEWS
Oman’s exports down 9.6 percent toin H1
21 Oct 2014
(MENAFN) Oman’s total value of exports, including oil and gas, non-oil products and re-exports recorded a decline of 9.6 per cent, amounting to USD25.89 billion, in the January-June period of this year compared to USD28.48 billion recorded in the corresponding period of 2013, Times of Oman reported.
The fall in exports is due to a decrease in the value of oil and gas exports, which decreased by 9.7 percent, declining to USD17.09 billion in the first half of this year compared with USD18.90 billion exported in the same period last year.
In terms of categories, the only increase recorded during the first half of 2014 was in the non-oil exports which were up by 3.3 percent, amounting to USD4.79 billion in the cited period compared to USD4.63 billion recorded in the same period last year.
The growth in non-oil exports is mostly attributed to the increase which was registered in the value of mineral product exports, which grew by 4.6 percent, and reached USD1.32 billion in comparison with USD1.38 billion which was posted in the first half of 2013
Meanwhile, exports of plastic and rubber products also made a major contribution in the growth of non-oil exports with an increase by 34.3 percent from USD336.65 million exported in the January-June period of 2013 to USD453.19 million registered in this year’s first half.
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