Macroeconomic trade context

Annual trade volume, 2024

• Total trade: OMR 40.943 billion (≈ US$106.3 billion), ↑ 9.0% from 2023
• Exports: OMR 24.230 billion (≈ US$62.9 billion), ↑ 6.8% from 2023
• Imports: OMR 16.713 billion (≈ US$43.4 billion), ↑ 12.1% from 2023
• Re-exports: OMR 1.708 billion (≈ US$4.4 billion), ↑ 14.9% from 2023
• Trade balance surplus: OMR 7.517 billion (≈ US$19.5 billion)
• Trade-to-GDP ratio: about 86% (2024 estimate)
• Global export rank: 63rd of 226
• Global import rank: 74th of 226
• Currency: Omani rial (OMR), pegged to the US dollar at US$1 = OMR 0.385 (fixed since 1986)
• GDP growth (2024): estimated 3.5–4.0%

Key trade trends, 2024

Geographic distribution, 2024

Non-oil export markets (OMR 6.232B)

Re-export markets (OMR 1.708B)

Import origins (OMR 16.713B)

Trade balance by major partner

Detailed export product analysis

A. Mineral fuels and energy products (hydrocarbon dominance)

1. Crude petroleum: OMR 9.908 billion (≈ US$25.7 billion)

• Share of total exports: 40.9%
• Annual growth: ↑ 0.8% from 2023
• Production capacity: about 1.0 million barrels a day
• Major fields: Block 6 (Petroleum Development Oman), Block 60 and Block 53
• Primary destinations: China, India, South Korea and Japan
• Key company: Petroleum Development Oman (PDO, 60% government-owned)

2. Refined petroleum products: OMR 3.85 billion (≈ US$10.0 billion)

• Share of total exports: 15.9%
• Annual growth: ↑ 185.5% (a record increase)
• Duqm Refinery: became fully operational in 2024, driving the export growth
• Sohar Refinery: existing capacity expanded
• Products: gasoline, diesel, jet fuel, naphtha and fuel oil
• Primary destinations: Asian markets and East Africa

3. Liquefied natural gas (LNG): OMR 2.528 billion (≈ US$6.6 billion)

• Share of total exports: 10.4%
• Annual change: ↓ 1.9% from 2023
• Production capacity: 10.4 million tons a year
• Qalhat LNG terminal: the key export facility
• Primary destinations: South Korea, Japan, China and India
• Key company: Oman LNG (majority government-owned)

Mineral fuels total: OMR 16.29 billion (67.2% of total exports)

B. Mineral products (non-oil export leader)

1. Ores, slag and ash (HS 26): US$1.98 billion (≈ OMR 762 million)

• Share of non-oil exports: a significant portion
• Primary minerals: chromite, copper, limestone, gypsum and marble
• Gypsum: world-class reserves; a major exporter to Asia
• Limestone: for the cement industry
• Primary destinations: India, China and UAE

2. Salt, sulphur, earths and stone (HS 25): US$431 million (≈ OMR 166 million)

C. Metals and metal products

1. Iron and steel (HS 72): US$1.81 billion (≈ OMR 697 million)

• Share of non-oil exports: a leading category
• Products: rebar, sections and flat products
• Key companies: Jindal Shadeed and Vulcan Steel
• Primary destinations: GCC, India and East Africa

2. Common metal products (HS 73): US$485 million (≈ OMR 187 million)

• Annual growth: 0.1% in OMR terms

3. Aluminium and articles thereof (HS 76): US$1.13 billion (≈ OMR 435 million)

• Sohar Aluminium: a world-class smelter (joint venture: OQ, Rio Tinto, Al Batinah)
• Products: primary aluminium, billets and foundry alloys
• Primary destinations: Asia, Europe and GCC

D. Plastics and chemical products

1. Plastics and articles thereof (HS 39): US$2.65 billion (≈ OMR 1.02 billion)

• Annual growth: 13.3% in OMR terms
• Polyethylene and polypropylene: from the Liwa Plastics Industries Complex
• OQ’s Liwa complex: a world-scale petrochemical facility
• Primary destinations: China, India and Europe

2. Fertilisers (HS 31): US$1.14 billion (≈ OMR 439 million)

• Urea and ammonia: from Oman Fertiliser Company (Sohar)
• Primary destinations: India, Australia, USA and East Africa

3. Organic chemicals (HS 29): US$625 million (≈ OMR 241 million)

4. Chemical products and related industries: OMR 804 million (↓ 19.6%)

E. Electrical and machinery products

• Electrical machinery (HS 85): US$925 million (≈ OMR 356 million); cables and wires for construction and industrial applications; electrical equipment and parts
• Machinery and mechanical appliances (HS 84): US$761 million (≈ OMR 293 million)

F. Other major export categories

G. Re-exports (a growing sector)

• Total re-exports: OMR 1.708 billion (≈ US$4.4 billion), ↑ 14.9%
• Share of total exports: 7.0%
• Food, beverages and liquids: ↑ 30.6% to OMR 184 million
• Mineral products: ↑ 21.3% to OMR 120 million
• Transport equipment and machinery: a decline in some categories
• Live animals and animal products: ↓ 10.1% to OMR 97 million

Detailed import product analysis

A. Mineral products

• Includes: crude for re-export, refined products for blending and raw materials

B. Machinery and electrical equipment

• HS 84 (machinery): US$3.0 billion+ (estimated)
• HS 85 (electrical): US$2.5 billion+ (estimated)
• Primary sources: China, USA, Germany, Japan and Italy

C. Transport equipment

• HS 87 (vehicles): passenger cars, SUVs and commercial vehicles
• Primary sources: Japan, USA, Germany, South Korea and China
• Luxury vehicles: high demand in an affluent market

D. Metals and metal products

• Includes: steel products, aluminium and copper

E. Chemical and allied products

• HS 30 (pharmaceuticals): US$500 million+ (estimated)
• HS 33 (cosmetics and perfumes): US$400 million+ (estimated)
• HS 39 (plastics): significant imports

F. Other import categories

Trade procedures and regulations: deep dive

A. Customs legal framework

1. Primary authority

• Oman Customs (الجمارك العمانية): General Administration of Customs
• Part of: Royal Oman Police (ROP)

2. Legal framework

• GCC Common Customs Law: Oman applies the unified customs law of the Gulf Cooperation Council
• GCC Common Customs Tariff: a unified tariff structure (5% on most imports)
• National customs procedures: Oman-specific implementing regulations
• Executive regulations: detailing customs procedures and requirements

3. GCC Customs Union

• Members: Oman, Saudi Arabia, UAE, Qatar, Kuwait and Bahrain
• Common external tariff: 5% on most imports
• GCC-wide customs declaration accepted
• Revenue distribution mechanism among member states

4. International memberships

• WTO: member since 2000
• GAFTA (Greater Arab Free Trade Area): member
• GCC: founding member
• US–Oman FTA: bilateral free trade agreement (in force since 2009), Oman’s only bilateral FTA outside the GCC

B. Bayan electronic system

• Oman’s integrated electronic customs clearance platform
• A single window for all import and export declarations
• Electronic document submission and processing
• Real-time status tracking
• Risk management and channel selection

Key features

• Online registration for importers and exporters
• Electronic payment of duties and taxes
• Digital certificates and permits
• QR code verification to authenticate original documents and permits issued through Bayan (launched in 2024)

C. Regulatory developments, 2024

1. Traveller’s customs guide (January 2024)

Oman Customs launched a comprehensive traveller’s guide that clarifies:

• Personal effects exemption, conditions: personal in nature, value up to OMR 300, non-commercial, and the traveller is not a regular at the customs office
• Exempt items: film projectors, mobile phones, TVs, baby strollers, sports equipment, computers, printers, wheelchairs, medicines, clothing, jewellery, musical instruments and video cameras
• Cigarettes: up to 400 per person
• Alcoholic beverages: up to 4 litres per person
• Electronic cigarettes: up to 2 per person
• Age requirement: minimum 18 years

2. QR code verification service (2024)

• Launched by the General Administration of Customs
• Verifies original documents and permits issued through the Bayan electronic system
• Prevents forgery of customs documents
• Accessible on mobile devices

3. Customs educational platform

• Launched to train staff in customs knowledge
• Provides basic skills training
• Supports professional development in customs operations

D. Import procedures

1. Mandatory documents

1. Commercial invoice: accurate goods description; metric net and gross weights; quantity, unit price and total value; country of origin; transport details
2. Certificate of origin: required for all shipments; certified by the Chamber of Commerce in the exporting country; needed for preferential claims under the US–Oman FTA or GCC agreements
3. Packing list: detailed contents of each package, with marks and numbers
4. Bill of lading or air waybill: original negotiable document; shipper, consignee and final port of destination; goods description and freight charges
5. Import licence (for restricted goods)
6. Insurance certificate

2. Import licensing system

• Importers must be registered with the Ministry of Commerce, Industry and Investment Promotion
• Commercial Registration (CR) required
• Licences are valid for specific goods and periods

3. Prohibited goods

• Absolutely prohibited (Unified Customs Law): weapons of all kinds (without authorisation); goods concealing their true nature (for example sticks containing spears or swords); rifles, pistols and children’s toy weapons; military clothing and similar items; riflescopes and night scopes; tasers and stun guns; natural ivory; drugs and psychotropic substances; explosives
• Additional prohibitions: alcoholic beverages (except licensed importers and non-Muslim personal consumption limits); pork products (restricted to non-Muslims with permits); pornographic materials; gambling tools

4. Restricted goods (prior approval required)

E. Product standards and certification

1. Standards authority

• Directorate General for Specifications and Metrology (under the Ministry of Commerce, Industry and Investment Promotion)
• Develops Omani Standards (OS)
• Adopts international standards (ISO, IEC)

2. Standards initiatives, 2024

• The Ministry launched initiatives to improve trust in conformity assessment outputs
• Over 1,000 new standards adopted to make products more competitive internationally

3. Labelling requirements

• Origin marking: “Made in [country]” must be clearly displayed and non-removable
• Arabic language: mandatory for all consumer products
• English: optional, but may be included
• Label must show: product name; manufacturer or importer name and address; ingredients (in descending order); net weight or volume; production date; expiry date (where applicable); storage instructions; warning or caution statements where required

F. Taxation and duties

1. Customs duties (GCC common external tariff)

• Standard rate: 5% on most imports (CIF value)
• Exemptions: certain food items, medical supplies, books and printed materials
• Higher rates: tobacco 100% (alcohol is prohibited except for licensed importers)
• Duty-free: GCC-originating goods (with a certificate of origin)
• Preferential rates: 0% under the US–Oman FTA for qualifying US-origin goods; 0% under GAFTA for qualifying Arab-origin goods

2. Customs duty exemptions (qualifying entities)

• Government agencies (official use)
• Diplomatic missions (on a reciprocal basis)
• Charitable organisations (approved projects)
• Industrial licence holders (machinery and raw materials)
• Free zone companies (goods entering free zones)

G. Special trade regimes

1. Free zones

• Free zone benefits: 100% foreign ownership; duty-free imports; tax exemptions (up to 30 years in Duqm); no corporate tax for extended periods; no personal income tax; simplified customs procedures; repatriation of capital and profits

2. Other regimes

• Bonded warehousing: storage without duty payment, for re-export or later local release, under customs supervision; time limits apply
• Temporary admission: for exhibitions, professional equipment and samples; usually 6 months (extendable); secured by a bank guarantee or cash deposit; goods must be re-exported
• Re-export procedure: goods imported and re-exported without processing; simplified documents; usually within 6 months; goods must be shown not to have been consumed or transformed

H. Compliance and enforcement

Appeals process

1. Objection to the Customs Administration within the specified period
2. Appeal to the Customs Appeals Committee
3. Judicial review by the administrative courts

Trade agreements network

A. Multilateral agreements

B. Bilateral free trade agreements

US–Oman Free Trade Agreement (in force since 2009)

• Oman’s only bilateral FTA outside the GCC
• Immediate duty-free access for 100% of US industrial and consumer goods
• Phased elimination of tariffs on remaining products
• Strong rules of origin and intellectual property protection
• Services trade liberalisation
• Government procurement access

C. GCC collective agreements

D. Bilateral investment treaties

• Bilateral investment treaties: 30+ with major trading partners
• Double taxation agreements: 40+ countries

Major trade infrastructure

A. Ports (managed by Asyad Group and the Ministry of Transport)

Port performance, 2024

• Total cargo handled: 137 million tonnes, ↑ 15% from 119 million tonnes in 2023
• Vessel calls: 12,000+ ships, ↑ 1.5%
• Container throughput: 4.2 million TEU (Salalah and Sohar)
• Ports’ share of total trade: OMR 16.5 billion (77% of Oman’s total import and export trade)

B. Airports

• Muscat International Airport: 350,000+ tons of cargo capacity a year; dedicated cargo terminal; Oman Air cargo operations; new passenger and cargo facilities
• Salalah Airport: 100,000+ tons of cargo capacity a year; seasonal passenger surges (Khareef season); growing cargo operations
• Sohar Airport: cargo and passenger services; industrial support
• Duqm Airport: cargo and passenger services; supports SEZAD Duqm

C. Free zones and special economic zones

• Sohar Free Zone: next to the Port of Sohar; logistics, manufacturing and petrochemicals; 100% foreign ownership allowed
• Salalah Free Zone: next to the Port of Salalah; logistics, manufacturing and transshipment; a gateway to East Africa and the Indian subcontinent
• Duqm Special Economic Zone (SEZAD): an integrated zone with port, airport, dry dock, industrial area and tourism zone; 30-year tax holiday; duty-free imports; simplified licensing
• Al Mazunah Free Zone: border trade with Yemen; light manufacturing and trading

D. Industrial zones

• Sohar Industrial Estate: petrochemicals, metals and manufacturing
• Rusayl Industrial Estate: light manufacturing, near Muscat
• Nizwa Industrial Estate: interior region
• Samail Industrial Estate: mixed industries
• Sur Industrial Estate: eastern region

E. Land border crossings

• Al Wajajah: with the UAE (northwest)
• Hafeet: with the UAE (near Al Ain)
• Khatmat Milaha: with the UAE (Sharjah connection)
• Sarfait / Rakhyut: with Yemen (south)
• Ramlat Khaliya: with Saudi Arabia (Empty Quarter; a logistics corridor is developing)

F. Logistics infrastructure

• Asyad Group: the state-owned logistics conglomerate
• Integrated logistics centres at ports and free zones
• Cold chain facilities for food and pharmaceuticals
• Bonded trucking for GCC land transport

Emerging trends and future developments

A. Hydrocarbon sector transformation

• Duqm Refinery (operational in 2024): 230,000 barrels a day; a joint venture of OQ (50%) and Kuwait Petroleum International (50%); drove the 185.5% increase in refined petroleum exports; export-oriented production of clean fuels
• LNG expansion: Oman LNG capacity optimisation and long-term contracts with Asian buyers
• Oil production: PDO maintains about 1 million bpd of capacity, with enhanced oil recovery projects

B. Economic diversification (Oman Vision 2040)

• Strategic pillars: diversification beyond hydrocarbons; private sector-led growth; attracting foreign investment; a knowledge-based economy
• Refined petroleum exports: +185.5% (2024)
• Plastics exports: +13.3%
• Non-oil exports: facing headwinds (−16.3% in 2024)

C. Digital transformation

• Bayan system enhancements: QR code verification service (2024), digital document authentication and single window integration
• Oman Business Platform: 827,129 transactions processed in 2024 (↑ 15.1%)
• Automatic licences: over 1 million issued since April 2021
• IP registrations: 12,675 requests for trademarks, patents, copyrights and industrial designs
• Sanad service centres: 913 centres completing over 1.2 million electronic transactions

D. Ports and logistics hub development

• Salalah Port expansion (completed in 2024): container terminal capacity of 6.5 million TEU; larger vessels (366 m+, 14,500+ TEU); higher productivity and faster clearance
• Suwaiq Port development: concession agreement with Asyad Ports; expansion to take larger vessels and handle all cargo types
• Duqm Port growth: 152% cargo volume increase (2024); SEZAD integration; expanding dry dock operations

E. Investment climate reforms, 2024

• Invest in Oman platform: 68 investment opportunities showcased; 90 projects processed; 40 projects worth over OMR 1 billion localised
• Investor Residency Programme: 3,407 investors from 60+ countries had received cards by February 2025
• FDI performance: FDI exceeded OMR 30 billion by the end of 2024 (↑ OMR 4.58 billion); manufacturing investments of over OMR 2.4 billion
• Commercial registrations: ↑ 13.96% to 441,773

F. Green economy and sustainability

• Renewable energy projects: solar PV plants (Ibri II, Manah I and II); wind power projects (Dhofar); green hydrogen feasibility studies (Hydrom)
• Environmental measures: carbon capture initiatives and energy efficiency programmes

G. Trade policy developments in the 2024–2026 roadmap

• Advantage Oman Forum (27–28 April 2025): the first edition, announced as a milestone in our 2024–2026 outlook, exploring investment prospects globally and locally
• Export promotion: “Oman Exports” connects local companies to global markets and promotes non-oil exports internationally
• New initiatives: the “Najd Agricultural Area Guide” to attract investment in food security; the “Ishrak Window” for investor participation in reviewing regulations; the “Tijara Channel” for better public engagement

Key contacts and resources

A. Government agencies

1. Oman Customs (الجمارك العمانية): customs.gov.om · Bayan system: bayan.customs.gov.om · customs procedures, declarations and tariffs
2. Ministry of Commerce, Industry and Investment Promotion (MoCIIP): mociip.gov.om · commercial registration, trade policy and investment licensing · Oman Business Platform: business.gov.om
3. Ministry of Transport, Communications and Information Technology: Ports Directorate (ports management and maritime affairs)
4. Asyad Group: asyad.com · port operations, logistics and free zones
5. Oman Investment Authority (OIA): oversight of state-owned enterprises (OQ, Oman LNG and others)
6. National Centre for Statistics and Information (NCSI): ncsi.gov.om · trade statistics and economic data
7. Public Authority for Special Economic Zones and Free Zones (OPAZ): opaz.gov.om · SEZAD Duqm and free zone regulation
8. Ministry of Agriculture, Fisheries and Water Resources: approvals for live animals, plants, fertilisers and pesticides
9. Ministry of Health: approvals for medicines, drugs, medical equipment and cosmetics
10. Telecommunications Regulatory Authority (TRA): tra.gov.om · approvals for transmitters and wireless devices

B. Business organisations

1. Oman Chamber of Commerce and Industry (OCCI): occi.om · certificates of origin, business registration and trade promotion
2. Public Authority for Investment Promotion and Export Development (Ithraa): ithraa.om · investment attraction and export promotion
3. Oman Employers’ Federation

C. Trade portals and digital platforms

D. Practical guidance for traders

For exporters to Oman

1. Standards: products must meet Omani Standards (OS) or GCC standards
2. Arabic labelling: mandatory for all consumer products, food especially
3. Halal certification: required for meat and poultry, from approved bodies
4. Ministry approvals: restricted goods need prior approval (medicines and cosmetics: Ministry of Health; live animals and plants: Ministry of Agriculture; telecom equipment: TRA; drones: Civil Aviation Authority)
5. Bayan declaration: all shipments must be declared through the Bayan system; QR codes verify document authenticity
6. Prohibited items: review the prohibited list (weapons, drugs, natural ivory and more)
7. Alcohol and tobacco limits: personal use only within set quantities (4 litres of alcohol, 400 cigarettes)
8. US–Oman FTA benefits: US exporters may claim duty-free treatment under the bilateral FTA
9. Free zones: for logistics or manufacturing operations, consider the Sohar, Salalah or Duqm zones

For importers from Oman

1. Certificate of origin: from the Oman Chamber of Commerce and Industry
2. Hydrocarbon contracts: directly with OQ, Oman LNG or Petroleum Development Oman
3. Petrochemicals: OQ’s Liwa Plastics Complex for polyethylene and polypropylene
4. Metals: Jindal Shadeed, Vulcan Steel and Sohar Aluminium
5. Quality certificates: available from manufacturers (internationally recognised)
6. US–Oman FTA: Omani exporters to the US benefit from duty-free access

Economic impact and strategic position

A. Trade balance dynamics

• 2024 trade surplus: OMR 7.517 billion (≈ US$19.5 billion)
• Export growth: 6.8%
• Import growth: 12.1%
• Re-export growth: 14.9%
• Export–import coverage ratio: 145% (OMR 24.23B of exports against OMR 16.713B of imports)

B. Global strategic position

1. Hydrocarbon powerhouse: oil and gas make up 67.2% of total exports
2. Refining hub: Duqm Refinery (operational in 2024) drove 185.5% growth in refined product exports
3. Mining potential: chromite, copper, gypsum and limestone resources
4. Logistics hub: a strategic location on the Indian Ocean, near the Strait of Hormuz
5. Port infrastructure: world-class ports at Salalah, Sohar and Duqm
6. GCC member: integrated with the Gulf Cooperation Council economies
7. US FTA partner: the only GCC country with a bilateral FTA with the United States
8. Indian Ocean presence: a strategic position on global shipping lanes

C. Competitiveness indicators

D. Development strategy (Oman Vision 2040)

• Private sector contribution to GDP: increase from 60% to 90%
• Foreign direct investment: target of 10% of GDP
• Non-oil exports: target of 50% of total exports
• Economic diversification: manufacturing, logistics, tourism, mining and fisheries

Progress, 2024

• Domestic trade contribution to GDP: ↑ 3.6% to OMR 19 billion
• Service activities: 46.5% of GDP
• Manufacturing investments: over OMR 2.4 billion
• FDI: over OMR 30 billion (↑ OMR 4.58 billion)

E. Challenges

1. Hydrocarbon dependence: 67.2% of exports from oil and gas
2. Non-oil export decline: −16.3% in 2024
3. Mineral products decline: −36.8%
4. Import growth: +12.1%, outpacing export growth
5. Global energy transition: long-term uncertainty over fossil fuel demand
6. Fiscal pressures: government deficit and debt management
7. Private sector development: a historically state-dominated economy
8. Regional competition: GCC neighbours’ ambitious diversification plans

F. Opportunities

1. Duqm Refinery: export capacity expansion and downstream petrochemicals
2. Liwa Plastics Complex: polyethylene and polypropylene exports (+13.3% in 2024)
3. Mining sector: underexploited mineral resources (copper, chromite, gypsum)
4. Green hydrogen: major potential from solar and wind (Hydrom projects)
5. Logistics hub: port expansion, GCC connectivity and Indian Ocean trade
6. US–Oman FTA: unique market access to the United States
7. Investment reforms (2024): FDI exceeded OMR 30 billion; the Investor Residency Programme is attracting global investors
8. Food security: agricultural development (“Najd Agricultural Area Guide”)
9. Tourism: cruise tourism growth (114 ships and 416,000 tourists in 2024)
10. Fisheries: underused marine resources

Summary of Oman’s trade characteristics

1. Hydrocarbon dominance: 67.2% of exports come from oil and gas (crude OMR 9.9B, refined OMR 3.85B, LNG OMR 2.53B)
2. Refined products surge: refined petroleum exports ↑ 185.5% in 2024 (Duqm Refinery operational)
3. Non-oil export challenges: ↓ 16.3% in 2024, with mineral products hardest hit (−36.8%)
4. Re-export growth: ↑ 14.9% to OMR 1.708 billion; the UAE is the No. 1 re-export market
5. Asian market focus: China (No. 2 import partner), India (No. 3 non-oil export partner), Korea and Japan are key buyers
6. GCC integration: the UAE is the No. 1 non-oil export destination and No. 1 import origin; Saudi Arabia is the No. 2 non-oil export destination
7. Port infrastructure: 137 million tonnes of cargo in 2024; Salalah (3.3M TEU), Sohar (942K+ TEU) and Duqm (+152% growth)
8. 2024 regulatory developments: QR code verification for Bayan documents; a traveller’s customs guide; simplified procedures
9. Investment boom: FDI exceeded OMR 30 billion; commercial registrations ↑ 13.96%; 3,407 Investor Residency cards issued
10. Trade surplus normalising: OMR 7.517 billion in 2024 (from a peak of OMR 7.78B in 2023)

Oman is a hydrocarbon-dependent economy undergoing rapid transformation under Vision 2040, with the Duqm Refinery (operational in 2024) driving a 185.5% surge in refined petroleum exports. Oil and gas remain dominant (67.2% of exports), while non-oil exports faced headwinds (−16.3% in 2024), with mineral products sharply lower (−36.8%).

2024 brought significant digitalisation: QR code verification for Bayan customs documents (preventing forgery), a comprehensive traveller’s guide clarifying exemptions and limits, and better e-government services. Investment climate reforms delivered results: FDI exceeded OMR 30 billion, commercial registrations grew 13.96% and 3,407 investor residency cards were issued to global investors.

Oman’s world-class ports handled 137 million tonnes of cargo in 2024. Salalah Port’s container terminal expansion (now 6.5M TEU of capacity) and Duqm Port’s 152% growth show the country’s logistics potential. The US–Oman FTA provides unique access to the United States, while GCC integration remains central, with the UAE and Saudi Arabia as top trade partners.

Oman’s trade future depends on successful diversification under Vision 2040: capturing downstream value from the Duqm Refinery and Liwa Plastics Complex, expanding non-oil exports, and using its strategic location and world-class port infrastructure as a gateway between East Africa, Asia and the Gulf.

Need more detail? For more detailed information or a specific market intelligence question, contact us.

Sources: MOFCOM (Oman trade statistics) · Oman Observer (2024 trade surplus) · ITC Trade Map · Times of Oman (customs guide) · Zawya (commercial registrations in 2024) · Foreign Ministry of Oman (port performance)