FINANCIAL NEWS

Oman’s exports record 28pct drop

07 Nov 2016

(MENAFN) Oman’s merchandise exports in the Jan-May period of this year saw a 28.4 percent drop at RO4.02bn, while imports fell by 23.4 percent to RO3.46bn.

In addition, oil and gas exports dropped by 37.5 percent to RO2.14bn, whereas non-oil exports were down by 24.9 percent to RO985.3mn.

Moreover, the greatest decline in exports was recorded in plastics and rubber, followed by base metals and articles, which dropped by 50 percent.

On the other hand, re-exports recorded a 1.5 percent growth, which was driven by a whopping 463 percent increase in re-exports of mineral products.

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