Oman’s trade surplus remains but narrows by 36%

Oman’s trade surplus shrank by 36 percent year on year by the end of October 2025, but remained in positive territory, according to official data.

The trade surplus – the amount by which the value of a country’s exports exceeds the cost of its imports – was OMR4.7 billion ($12.2 billion), down from OMR7.3 billion by the end of October 2024, the state-run Oman News Agency reported, quoting preliminary statistics issued by the National Centre for Statistics and Information.

The total value of merchandise exports fell 8 percent during the same period, driven by a 16 percent decline in oil and gas exports. However, the value of non-oil merchandise exports increased by 10 percent.

Merchandise imports increased by 7 percent. The value of re-exports climbed 12 percent.

The UAE was Oman’s largest destination for non-oil exports and re-exports.

Saudi Arabia was second for non-oil exports, followed by India.

Last week, the finance ministry projected a budget deficit of OMR530 million for 2026, a 14.5 percent decline from last year.

Revenue, based on an average oil price of $60 per barrel, is forecast at OMR11.5 billion, up 2.4 percent year on year. Public expenditure is estimated at OMR12 billion, an increase of 1.5 percent from last year.  

Further reading:

• Oman’s trade balance tumbles as oil prices fluctuate
• Oman’s foreign trade up thanks to oil and gas
• Oman’s economy in charts