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Exports total OR3.4bn to February 2014

: Wednesday, July 02 - 2014 @ 12:21

The total value of Omani exports from January to the end of February 2014, which includes oil and gas, non-oil products and re-exports recorded a decline of 10.5%, and totaled OR3.4bn, compared with OR3.8bn recorded by the end of February 2013.

Recently released trade and export statistics issued by the National Centre for Statistics and Information (NCSI) revealed the decline is due to the fall in oil and gas exports, generating export revenue of OR2.2bn to the end of February 2014 versus OR2.4bn by the end of February 2013. During the same period, the total value of re-exports declined by 39.7%, recording re-exports of OR479.1m by the end of February 2014 against OR795m by the end of February 2013. Within the export categories, the only increase recorded was in the non-oil exports which grew by 23.9%, totaling OR694.9m at the end of February 2014 compared with OR560.7m during the same period in 2013. The growth in non-oil exports is due to the increase in mineral product exports by 47.9%, rising from OR176m registered by the end of February 2013 to OR260.3m during the same period in 2014. Chemical products also contributed in the growth, increasing by 22.4% from OR105.6m by the end of February 2013 to OR129.3m by the end of February 2014.

According to the NCSI report, the total value of merchandise imports through sea, land and air outlets declined by 10.7% totaling OR1.8bn by the end of February 2014 when compared with OR2.1bn during the same period in 2013. The total volume of merchandise imports by weight also registered a drop of 28.4% by the end of February 2014 totaling 3.2 million tons versus 4.5 million tons by the end of February 2013.

The total value of merchandise imports arriving via sea outlets declined by the end of February 2014 to OR1.2bn compared with OR1.5bn during the same period 2013, representing a decline of 22.4%. Meanwhile, by volume, imports by sea declined by 24% to 1.8 million tons by the end of February 2014 when compared with 2.4 million tons during the same period in 2013. The value of merchandise imports arriving via land outlets grew by 39.3%, recording OR523m by the end of February 2014 compared with OR375.4m during the same period in 2013, however the volume by weight declined by 33.2%, dropping from 2.2 million tons by the end of February 2013 to 1.4 million tons during the same period in 2014. During the same period the total value of merchandise imports arriving via air outlets declined by 16.7%, recording OR136.6m compared with OR164m by the end of February 2013. Additionally, the volume of air imports by weight recorded of drop of 41.5%, with 7,300 tons recorded by the end of February 2014, compared with 12,400 tons during the same period in 2013.

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Wednesday, July 2- 2014 @ 12:21 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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