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Oman’s exports touch OMR3.4b, down by 10.5 per cent


The decline in total value of exports is attributed to the fall in oil and gas exports, generating export revenue of OMR2.2 billion till the end of February 2014, compared to OMR2.4 billion by the end of February 2013. – Times file photo

Muscat: The total value of Oman's exports stood at OMR3.4 billion from January to the end of February, showing a decline of 10.5 per cent compared to the corresponding period last year, while non-oil exports grew by 23.9 per cent during the same period.

The figure includes oil and gas, non-oil products and re-exports. The Sultanate of Oman's exports from January to February 2013 totalled OMR3.8 billion.

According to the latest statistics issued by the National Centre for Statistics and Information, the decline is attributed to the fall in oil and gas exports, generating export revenue of OMR2.2 billion till the end of February 2014, compared to OMR2.4 billion by the end of February 2013.

During the same period, the total value of re-exports declined by 39.7 per cent, reaching OMR479.1 million by the end of February 2014 against OMR795 million 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 per cent, totalling OMR694.9 million at the end of February 2014, compared to OMR560.7 million during the same period in 2013.

The growth in non-oil exports is due to the increase in mineral product exports by 47.9 per cent, rising from OMR176 million registered by the end of February 2013 to OMR260.3 million during the same period in 2014. Chemical products also contributed to the growth, increasing by 22.4 per cent from OMR105.6 million by the end of February 2013 to OMR129.3 million by the end of February 2014.

Merchandise imports
According to the report, the total value of merchandise imports through sea, land and air outlets declined by 10.7 per cent, totalling OMR1.8 billion by the end of February 2014 when compared to OMR2.1 billion during the same period in 2013.

The total volume of merchandise imports by weight also registered a drop of 28.4 per cent by the end of February 2014, totalling 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 OMR1.2 billion compared to OMR1.5 billion during the same period 2013, representing a decline of 22.4 per cent.

Meanwhile, by volume, imports by sea had declined by 24 per cent to 1.8 million tons by the end of February 2014, when compared to 2.4 million tons during the same period in 2013.

The value of merchandise imports arriving via land outlets grew by 39.3 per cent, recording OMR523 million by the end of February 2014, compared to OMR375.4 million during the same period in 2013.

However, the volume by weight declined by 33.2 per cent, dropping from 2.2 million tonnes by the end of February 2013 to 1.4 million tonnes during the same period in 2014.

During the same period, the total value of merchandise imports arriving via air outlets declined by 16.7 per cent, recording OMR136.6 million compared to OMR164 million by the end of February 2013.

Additionally, the volume of air imports by weight recorded a drop of 41.5 per cent, with 7,300 tons recorded by the end of February 2014, compared to 12,400 tonnes during the same period in 2013.

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