The Sultanate has achieved a whopping trade surplus of OMR1.21 billion by the end of 2016, which was driven by the country’s favourable trade with Asian nations.
The total imports last year were recorded at OMR8.9 billion and total exports were at OMR10.11 billion.
The highest surplus in the trade balance recorded from the Asian countries with OMR5.04 billion as the volume of export reached OMR7.03 billion compared with the import of OMR2.29 billion, shows statistics released by the Ministry of Commerce and Industry. The trade balance with the African countries was also positive with OMR215.86 million, as exports were worth OMR344.71 million compared with imports of OMR128.85 million.
However, there was a deficit of OMR3.02 billion in the trade with the Gulf countries since the volume of exports was OMR1.81 billion compared with the import of OMR4.83 billion.