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Omani exports total OMR 5.14 billion in Q1

: Monday, August 04 - 2014 @ 12:30

The total value of Omani exports which includes oil and gas, non-oil products and re-exports registered a decline of 7.9%, totaling OMR 5.14 billion by the end of Q1 2014, compared with OMR 5.58 billion registered during the same period in 2013.

Recently released foreign trade figures issued by the National Center for Statistics and Information (NCSI) revealed the decline was due to a 9.3 % fall in oil and gas exports by the end of Q1 2014, when compared with the same period in 2013, generating export revenue of OMR 3.37 billion by the end of March 2014 when compared with OMR 3.72 billion by the end of March 2013. During the same period, the total value of re-exports declined by 27.2% recording a total value of OMR 760.6 million by the end of Q1 2014 against OMR 1.04 billion in the same period last year.

Within the exports category, the only increase recorded was in the non-oil exports which grew by 23.4% totaling some OMR 1.01 billion at the end of March 2014 compared with OMR 818.2 million during the same period in 2013. The growth in the non-oil exports is largely due to the increase in mineral products exports by 69.2% rising from OMR 213 million registered by the end of March 2013 to OMR 360.4 million during Q1 2014.

According to the NCSI foreign trade report, the total value of merchandise imports declined by 8.1% totaling OMR 2.94 billion by the end of March 2014 compared to OMR 3.20 billion during the same period in 2013. The total volume of merchandise imports by volume registered a drop of 7.4% by the end of March 2014, totaling 5.98 million tons compared with 6.46 million tons recorded during the same period in 2013.

The total value of merchandise imports arriving via sea outlets declined by the end of March 2014 to OMR 1.93 billion compared to OMR 2.31 billion during the same period in 2013, representing a decline of 16.3%. Meanwhile, when measured by volume, imports by sea increased by 6.2% to 3.87 million tons by end of March 2014 when compared with 3.65 million tons during the same period in 2013. Additionally, the total value of the merchandise imports arriving via land outlets grew by 28.5% recording OMR 789.2 million by the end of March 2014 compared with OMR 614.2 million during the same period in 2013. However, the total volume of merchandise arriving via land outlets declined by 24.8% dropping from 2.8 million tons by the end of March 2013 to 2.10 million tons during the same period in 2014.

Over the same period, the total value of merchandise imports arriving via air outlets declined by 21.2% recording OMR 215.5 million compared with OMR 273.5 million by the end of March 2013. Additionally, the total volume of merchandise arriving via air outlets recorded a drop of 39.1% with 11,300 tons recorded by the end of March 2014 compared with 18,600 tons during the same period in 2013.

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Monday, August 4- 2014 @ 12:30 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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