ANALYSIS OF OMAN’S TRADE: DATA, PRODUCTS & PROCEDURES, FOR MORE DETAILED INFORMATION OR A SPECIFIC MARKET INTELLIGENCE MATTER OR ANY OTHER MATTER PLEASE CONTACT US

1. 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: ~86% (2024 est.)
Global Export Rank: 63rd out of 226
Global Import Rank: 74th out of 226
Currency: Omani Rial (OMR), pegged to USD at US$1 = OMR 0.385 (fixed since 1986)
GDP Growth (2024): Estimated 3.5-4.0%

Key Trade Trends (2024):

Indicator	2024 Value	Change from 2023
Total Exports	OMR 24.23 billion	↑ 6.8%
Oil & Gas Exports	OMR 16.29 billion	↑ 18.4%
Non-Oil Exports	OMR 6.232 billion	↓ 16.3%
Re-exports	OMR 1.708 billion	↑ 14.9%
Total Imports	OMR 16.713 billion	↑ 12.1%
Trade Surplus	OMR 7.517 billion	↓ from OMR 7.78B (2023)

Geographic Distribution 2024:

NON-OIL EXPORT MARKETS (OMR 6.232B):

Rank	Country	Export Value	Share of Non-Oil Exports
1	United Arab Emirates	OMR 1.046 billion	16.8%
2	Saudi Arabia	OMR 849 million	13.6%
3	India	OMR 659 million	10.6%

RE-EXPORT MARKETS (OMR 1.708B):

Rank	Country	Re-export Value
1	United Arab Emirates	OMR 569 million
2	Iran	OMR 359 million
3	Kuwait	OMR 117 million

IMPORT ORIGINS (OMR 16.713B):

Rank	Country	Import Value
1	United Arab Emirates	OMR 3.941 billion
2	China	OMR 1.83 billion
3	Kuwait	OMR 1.692 billion

Trade Balance by Major Partner:

Partner	Trade Balance
UAE	Deficit (imports OMR 3.94B vs. exports OMR 1.05B)
China	Deficit (imports OMR 1.83B vs. limited non-oil exports)
Saudi Arabia	Surplus (exports OMR 849M)
India	Surplus (exports OMR 659M)

2. DETAILED EXPORT PRODUCT ANALYSIS

A. MINERAL FUELS & 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: ~1.0 million barrels per day
Major fields: Block 6 (Petroleum Development Oman), Block 60, Block 53
Primary Destinations: China, India, South Korea, 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% (record increase)
Duqm Refinery: Became fully operational in 2024, driving massive export growth
Sohar Refinery: Existing capacity expanded
Products: Gasoline, diesel, jet fuel, naphtha, fuel oil
Primary Destinations: Asian markets, 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 per annum
Qalhat LNG Terminal: Key export facility
Primary Destinations: South Korea, Japan, China, India
Key Company: Oman LNG (government majority 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: Significant portion
Primary minerals: Chromite, copper, limestone, gypsum, marble
Gypsum: World-class reserves, major exporter to Asia
Limestone: For cement industry
Primary Destinations: India, China, 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: Leading category
Products: Rebar, sections, flat products
Key Companies: Jindal Shadeed, Vulcan Steel
Primary Destinations: GCC, India, 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: World-class smelter (joint venture: OQ, Rio Tinto, Al Batinah)
Products: Primary aluminium, billets, foundry alloys
Primary Destinations: Asia, Europe, 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, polypropylene: From Liwa Plastics Industries Complex
OQ’s Liwa Complex: World-scale petrochemical facility
Primary Destinations: China, India, Europe

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

Urea, ammonia: From Oman Fertiliser Company (Sohar)
Primary Destinations: India, Australia, USA, 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 & MACHINERY PRODUCTS

1. Electrical Machinery (HS 85): US$925 million (≈ OMR 356 million)

Cables, wires: For construction and industrial applications
Electrical equipment and parts

2. Machinery and Mechanical Appliances (HS 84): US$761 million (≈ OMR 293 million)

F. OTHER MAJOR EXPORT CATEGORIES

HS Code	Product Category	Export Value (US$)	Notes
71	Pearls, precious stones, metals	US$647 million	Re-exports, local production
89	Ships, boats, floating structures	US$441 million	Shipbuilding, repairs
87	Vehicles (non-railway)	US$441 million	Re-exports
03	Fish and seafood	US$407 million	OMR 350 million (-11%)
04	Dairy produce, eggs, honey	US$420 million	Growing sector
01	Live animals	US$239 million	Livestock trade
24	Tobacco products	US$411 million	Significant growth

G. RE-EXPORTS (Growing Sector)

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

3. DETAILED IMPORT PRODUCT ANALYSIS

A. MINERAL PRODUCTS (Largest Import Category)

Mineral Products Import Value: OMR 4.674 billion (≈ US$12.1 billion)
Share of total imports: 28.0%
Annual growth: ↑ 11.3%
Includes: Crude for re-export, refined products for blending, raw materials

B. MACHINERY AND ELECTRICAL EQUIPMENT

Machinery, appliances, electrical equipment: OMR 2.934 billion (≈ US$7.6 billion)
Share of total imports: 17.6%
Annual growth: ↑ 28.9%
HS 84 (Machinery): US$3.0 billion+ (estimated)
HS 85 (Electrical): US$2.5 billion+ (estimated)
Primary Sources: China, USA, Germany, Japan, Italy

C. TRANSPORTATION EQUIPMENT

Transport Equipment: OMR 1.516 billion (≈ US$3.9 billion)
Share of total imports: 9.1%
Annual growth: ↑ 13.5%
HS 87 (Vehicles): Passenger cars, SUVs, commercial vehicles
Primary Sources: Japan, USA, Germany, South Korea, China
Luxury vehicles: High demand in affluent market

D. METALS AND METAL PRODUCTS

Common Metals and Products: OMR 1.605 billion (≈ US$4.2 billion)
Share of total imports: 9.6%
Annual growth: ↑ 1.0%
Includes: Steel products, aluminum, copper

E. CHEMICAL AND ALLIED PRODUCTS

Chemical Products: OMR 1.516 billion (≈ US$3.9 billion)
Share of total imports: 9.1%
Annual growth: ↑ 3.1%
HS 30 (Pharmaceuticals): US$500 million+ (estimated)
HS 33 (Cosmetics/perfumes): US$400 million+ (estimated)
HS 39 (Plastics): Significant imports

F. OTHER IMPORT CATEGORIES

Category	Import Value	Notes
Food and Beverages	OMR 500 million+ (est.)	Meat, dairy, cereals, fruits
Textiles and Apparel	OMR 400 million+ (est.)	Clothing, fabrics
Furniture and Lighting	OMR 250 million+ (est.)	HS 94
Optical/Medical Apparatus	OMR 200 million+ (est.)	HS 90
Paper and Paperboard	OMR 150 million+ (est.)	HS 48
Other Imports	OMR 4.469 billion	Miscellaneous

4. TRADE PROCEDURES & 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: 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, 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 (effective 2009) – Oman’s only bilateral FTA outside GCC

B. BAYAN ELECTRONIC SYSTEM

Bayan System:

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

Key Features:

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

C. 2024 REGULATORY DEVELOPMENTS

1. Traveller’s Customs Guide (January 2024)

Oman Customs launched a comprehensive traveller’s guide clarifying:

Personal Effects Exemption:

Conditions: Personal nature, value ≤ OMR 300, non-commercial, traveller not a regular at customs office
Exempt items: Film projectors, mobile phones, TVs, baby strollers, sports equipment, computers, printers, wheelchairs, medicines, clothing, jewelry, musical instruments, video cameras

Allowable Quantities:

Cigarettes: Up to 400 cigarettes per person
Alcoholic beverages: Up to 4 liters per person
Electronic cigarettes: Up to 2 per person
Age requirement: Minimum 18 years

2. QR Code Verification Service (2024)

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

3. Customs Educational Platform

Launched to qualify cadres with customs knowledge
Provides basic skills training
Supports professional development in customs operations

D. IMPORT PROCEDURES

1. Documentation Requirements

Mandatory Documents:

Commercial Invoice:
- Accurate goods description
- Metric net and gross weights
- Quantity, unit price, total value
- Origin country
- Transport details
Certificate of Origin:
- Required for all shipments
- Must be certified by Chamber of Commerce in exporting country
- For preferential claims under US-Oman FTA or GCC agreements
Packing List:
- Detailed contents of each package
- Marks and numbers
Bill of Lading / Air Waybill:
- Original negotiable document
- Shipper, consignee, final port of destination
- Goods description, freight charges
Import License (for restricted goods)
Insurance Certificate

2. Import Licensing System

General Requirements:

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

Specialized Licenses:

Product Category	Licensing Authority
Live animals, plants, fertilisers, pesticides	Ministry of Agriculture, Fisheries and Water Resources
Medicines, drugs, medical equipment	Ministry of Health
Print publications, media products	Ministry of Information
Transmitters, wireless devices	Telecommunications Regulatory Authority (TRA)
Radio aircraft (Drones)	Civil Aviation Authority
Cosmetics, personal care	Ministry of Health

3. Prohibited Goods

Absolutely Prohibited (Unified Customs Law):

Weapons of all kinds (without authorization)
Goods concealing true nature (e.g., sticks containing spears/swords)
Rifles, pistols, children’s toy weapons
Military clothing and similar items
Riflescopes and night scopes
Tasers/stun guns
Natural ivory
Drugs and psychotropic substances
Explosives

Additional Prohibitions:

Alcoholic beverages (except licensed importers/non-Muslim personal consumption limits)
Pork products (restricted to non-Muslims with permits)
Pornographic materials
Gambling tools

4. Restricted Goods (Require Prior Approval)

Category	Approval Required From
Live animals	Ministry of Agriculture
Plants and fertilisers	Ministry of Agriculture
Pesticides	Ministry of Agriculture
Medicines and drugs	Ministry of Health
Medical devices	Ministry of Health
Print publications	Ministry of Information
Media products	Ministry of Information
Transmitters, wireless devices	Telecommunications Regulatory Authority
Drones (radio aircraft)	Civil Aviation Authority
Cosmetic products	Ministry of Health

E. PRODUCT STANDARDS AND CERTIFICATION

1. Standards Authority:

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

2. 2024 Standards Initiatives

Ministry launched initiatives to improve trust in conformity assessment outputs
Adopted over 1,000 new standards to boost product competitiveness internationally

3. Labeling Requirements

General Requirements:

Origin marking: “Made in [Country]” must be clearly displayed, non-removable
Arabic language: Mandatory for all consumer products
English optional but may be included

Specific Label Requirements:

Product name
Manufacturer/importer name and address
Ingredients (in descending order)
Net weight/volume
Production date
Expiry date (where applicable)
Storage instructions
Warning/caution statements where required

F. TAXATION & DUTIES

1. Customs Duties

GCC Common External Tariff:

Standard Rate: 5% on most imports (CIF value)
Exemptions: Certain food items, medical supplies, books, printed materials
Higher Rates: Tobacco (100%), alcohol (prohibited except licensed)
Duty-Free: GCC-originating goods (with Certificate of Origin)

Preferential Rates:

US-Oman FTA: 0% on qualifying US origin goods
GAFTA: 0% on qualifying Arab origin goods

2. Value Added Tax (VAT)

Status: Not yet implemented
GCC VAT Framework Agreement: Signed
Expected: Future introduction, currently studying implementation

3. Corporate Tax

Standard Rate: 15% on taxable income
Small Business Relief: Lower rates for SMEs
Oil and Gas Sector: Higher rates under specific Production Sharing Agreements

4. Customs Duty Exemptions

Qualifying Entities/Bodies:

Government agencies (official use)
Diplomatic missions (reciprocal basis)
Charitable organizations (approved projects)
Industrial license holders (machinery and raw materials)
Free zone companies (goods entering free zones)

G. SPECIAL TRADE REGIMES

1. Free Zones

Major Free Zones:

Free Zone	Location	Specialization
Sohar Free Zone	Sohar	Adjacent to Sohar Port; logistics, manufacturing, petrochemicals
Salalah Free Zone	Salalah	Adjacent to Salalah Port; logistics, manufacturing, transshipment
Duqm Special Economic Zone (SEZAD)	Duqm	Integrated zone with port, airport, dry dock; industrial, logistics, tourism
Al Mazunah Free Zone	Dhofar	Border trade with Yemen; light manufacturing, trading

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. Bonded Warehousing

Storage without duty payment
For re-export or subsequent local release
Customs supervision required
Time limits apply

3. Temporary Admission

For exhibitions, professional equipment, samples
Time limit: Usually 6 months (extendable)
Security: Bank guarantee or cash deposit
Goods must be re-exported

4. Re-export Procedure

Goods imported and re-exported without processing
Simplified documentation
Time limit: Usually 6 months
Must demonstrate goods not consumed/transformed

H. COMPLIANCE & ENFORCEMENT

1. Penalties for Violations

Violation	Penalty
Customs law violations	Fines specified in GCC Customs Law
False documentation	Administrative fines + possible criminal prosecution
Prohibited imports	Confiscation + fines + potential legal action
Customs duty evasion	Penalty up to 100% of evaded duty

2. Appeals Process

Objection to Customs Administration within specified period
Appeal to Customs Appeals Committee
Judicial review to administrative courts

5. TRADE AGREEMENTS NETWORK

A. MULTILATERAL AGREEMENTS:

Agreement	Status	Coverage
WTO	Member since 2000	Multilateral trade rules
GCC Customs Union	Member	Duty-free intra-GCC trade, common external tariff
GAFTA (Greater Arab Free Trade Area)	Member	Duty-free trade with Arab League members

B. BILATERAL FREE TRADE AGREEMENTS:

US-Oman Free Trade Agreement (effective 2009):

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

C. GCC COLLECTIVE AGREEMENTS

As GCC member, Oman participates in:

GCC-Singapore FTA: Signed
GCC-EFTA FTA: Signed (Switzerland, Norway, Iceland, Liechtenstein)
GCC-EU FTA: Negotiations (suspended)
GCC-China FTA: Negotiations ongoing
GCC-India CEPA: Negotiations ongoing
GCC-Pakistan FTA: Negotiations ongoing
GCC-Australia FTA: Negotiations ongoing
GCC-New Zealand FTA: Negotiations ongoing

D. BILATERAL INVESTMENT TREATIES

30+ BITs with major trading partners
Double Taxation Agreements: 40+ countries

6. MAJOR TRADE INFRASTRUCTURE

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

Port Performance 2024:

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

1. Port of Salalah

Location: Dhofar Governorate, southern Oman
Container throughput: 3.3 million TEU (2024)
Container terminal expansion: Completed 2024, capacity increased to 6.5 million TEUs
Berth upgrades: Now accommodates vessels >366 meters length, 14,500+ TEU capacity
Specialization: Transshipment hub, container terminal, general cargo
Free Zone: Adjacent Salalah Free Zone

2. Port of Sohar

Location: Al Batinah North Governorate
Container throughput: 942,000+ TEU (2024)
Bulk cargo growth: ↑ 72% in 2024
Specialization: Industrial port, containers, bulk, liquid cargo
Free Zone: Adjacent Sohar Free Zone
Industries: Aluminium smelter, petrochemicals, steel

3. Port of Duqm

Location: Al Wusta Governorate
Cargo volume growth: ↑ 152% in 2024 (all cargo types: general, liquid, bulk)
Special Economic Zone: SEZAD Duqm (integrated zone)
Dry dock: Maritime repair and shipbuilding
Future development: Major logistics hub

4. Sultan Qaboos Port

Location: Muscat
Role: Tourism hub, commercial activities
Cruise ships: Welcomed cruise ships, over 416,000 tourists in 2024
Development: Framework agreement signed with Asyad and Omran for marine services and crew changes

5. Other Ports

Khasab Port: Northern Oman, cruise tourism
Suwaiq Port: ↑ 10% cargo volume, concession agreement signed with Asyad Ports for development

B. AIRPORTS:

Muscat International Airport:

Cargo capacity: 350,000+ tons annually
Cargo terminal dedicated facilities
Oman Air cargo operations
New passenger/cargo facilities developed

Salalah Airport:

Cargo capacity: 100,000+ tons annually
Seasonal passenger surges (Khareef season)
Growing cargo operations

Sohar Airport:

Cargo and passenger services
Industrial support

Duqm Airport:

Cargo and passenger services
SEZAD Duqm support

C. FREE ZONES AND SPECIAL ECONOMIC ZONES

1. Sohar Free Zone

Adjacent to Port of Sohar
Logistics, manufacturing, petrochemicals
100% foreign ownership allowed

2. Salalah Free Zone

Adjacent to Port of Salalah
Logistics, manufacturing, transshipment
Gateway to East Africa and Indian subcontinent

3. Duqm Special Economic Zone (SEZAD)

Integrated zone: port, airport, dry dock, industrial area, tourism zone
30-year tax holiday
Duty-free imports
Simplified licensing

4. Al Mazunah Free Zone

Border trade with Yemen
Light manufacturing
Trading activities

D. INDUSTRIAL ZONES

Sohar Industrial Estate: Petrochemicals, metals, 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

Major Crossings:

Al Wajajah Border: With UAE (northwest)
Hafeet Border: With UAE (near Al Ain)
Khatmat Milaha Border: With UAE (Sharjah connection)
Sarfait/Rakhyut Border: With Yemen (south)
Ramlat Khaliya Border: With Saudi Arabia (Empty Quarter – logistics corridor developing)

F. LOGISTICS INFRASTRUCTURE

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

7. EMERGING TRENDS & FUTURE DEVELOPMENTS

A. Hydrocarbon Sector Transformation

Duqm Refinery (Operational 2024):

230,000 barrels per day capacity
Joint venture: OQ (50%), Kuwait Petroleum International (50%)
Drove 185.5% increase in refined petroleum exports
Export-oriented production of clean fuels

LNG Expansion:

Oman LNG capacity optimization
Long-term contracts with Asian buyers

Oil Production:

PDO maintains ~1 million bpd capacity
Enhanced oil recovery projects

B. Economic Diversification (Oman Vision 2040)

Strategic Pillars:

Economic diversification beyond hydrocarbons
Private sector-led growth
Foreign investment attraction
Knowledge-based economy

Progress Indicators:

Refined petroleum exports: +185.5% (2024)
Plastics exports: +13.3%
Non-oil exports: Currently facing headwinds (-16.3% in 2024)

C. Digital Transformation

Bayan System Enhancements:

QR Code verification service (2024)
Digital document authentication
Single window integration

Ministry Initiatives (2024):

Oman Business Platform: 827,129 transactions processed in 2024 (↑ 15.1%)
Automatic licenses: 1 million+ issued since April 2021
IP registrations: 12,675 requests for trademarks, patents, copyrights, industrial designs
Sanad Service Centers: 913 centers completing 1.2 million+ electronic transactions

D. Ports and Logistics Hub Development

Salalah Port Expansion (Completed 2024):

Container terminal capacity: 6.5 million TEUs
Larger vessel accommodation (366m+, 14,500+ TEU)
Enhanced productivity and clearance

Suwaiq Port Development:

Concession agreement with Asyad Ports
Expansion to accommodate larger vessels
All cargo types handling

Duqm Port Growth:

152% cargo volume increase (2024)
SEZAD integration
Dry dock operations expansion

E. Investment Climate Reforms (2024)

Invest in Oman Platform:

68 investment opportunities showcased
90 projects processed
40 projects valued over OMR 1 billion localized

Investor Residency Program:

3,407 investors from 60+ countries issued cards (by February 2025)

FDI Performance:

FDI exceeded OMR 30 billion by end-2024 (↑ OMR 4.58 billion)
Manufacturing sector investments: 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 & II)
Wind power projects (Dhofar)
Green hydrogen feasibility studies (Hydrom)

Environmental Regulations:

Carbon capture initiatives
Energy efficiency programs

G. Trade Policy Developments (2025)

Advantage Oman Forum (April 27-28, 2025):

First edition announced
Exploring investment prospects globally and locally

Export Promotion:

“Oman Exports” connecting local companies to global markets
Promoting non-oil exports internationally

New Initiatives:

“Najd Agricultural Area Guide” to attract investment in food security
“Ishrak Window” for investor participation in reviewing regulations
“Tijara Channel” for enhanced public engagement

8. KEY CONTACTS & RESOURCES

A. GOVERNMENT AGENCIES:

Oman Customs (الجمارك العمانية)
- Website: customs.gov.om
- Bayan System: bayan.customs.gov.om
- Customs procedures, declarations, tariffs
Ministry of Commerce, Industry and Investment Promotion (MoCIIP)
- Website: mociip.gov.om
- Commercial registration, trade policy, investment licensing
- Oman Business Platform: business.gov.om
Ministry of Transport, Communications and Information Technology
- Ports Directorate: Ports management, maritime affairs
Asyad Group
- Website: asyad.com
- Port operations, logistics, free zones
Oman Investment Authority (OIA)
- State-owned enterprises oversight (OQ, Oman LNG, etc.)
National Centre for Statistics and Information (NCSI)
- Website: ncsi.gov.om
- Trade statistics, economic data
Public Authority for Special Economic Zones and Free Zones (OPAZ)
- Website: opaz.gov.om
- SEZAD Duqm, free zones regulation
Ministry of Agriculture, Fisheries and Water Resources
- Live animals, plants, fertilisers, pesticides approvals
Ministry of Health
- Medicines, drugs, medical equipment, cosmetics approvals
Telecommunications Regulatory Authority (TRA)
- Website: tra.gov.om
- Transmitters, wireless devices approvals

B. BUSINESS ORGANIZATIONS:

Oman Chamber of Commerce and Industry (OCCI)
- Website: occi.om
- Certificate of Origin, business registration, trade promotion
Public Authority for Investment Promotion and Export Development (Ithraa)
- Website: ithraa.om
- Investment attraction, export promotion
Oman Employers’ Federation

C. TRADE PORTALS AND DIGITAL PLATFORMS:

Platform	Purpose	Website
Bayan System	Customs declarations, QR verification	bayan.customs.gov.om
Oman Business Platform	Commercial registration, licensing	business.gov.om
Invest in Oman	Investment opportunities	investoman.om
Ithraa	Export promotion, investor services	ithraa.om

D. PRACTICAL GUIDANCE FOR TRADERS:

For Exporters to Oman:

GCC Standards Compliance: Products must meet Omani Standards (OS) or GCC standards
Arabic Labeling: Mandatory for all consumer products (food especially)
Halal Certification: Required for meat and poultry; must be from approved bodies
Ministry Approvals: Restricted goods require prior approvals
- Medicines, cosmetics → Ministry of Health
- Live animals, plants → Ministry of Agriculture
- Telecom equipment → TRA
- Drones → Civil Aviation Authority
Bayan Declaration: All shipments must be declared through Bayan system; QR codes verify document authenticity
Prohibited Items Check: Review prohibited list (weapons, drugs, natural ivory, etc.)
Alcohol/Tobacco Limits: Personal use only within specified quantities (4 liters alcohol, 400 cigarettes)
US-Oman FTA Benefits: US exporters may claim duty-free treatment under bilateral FTA
Free Zone Consideration: For logistics/manufacturing operations, consider Sohar, Salalah, or Duqm free zones

For Importers from Oman:

Certificate of Origin: Obtain from Oman Chamber of Commerce and Industry
Hydrocarbon Contracts: Direct with OQ, Oman LNG, Petroleum Development Oman
Petrochemicals: OQ’s Liwa Plastics Complex for polyethylene/polypropylene
Metals: Jindal Shadeed, Vulcan Steel, Sohar Aluminium
Quality Certificates: Available from manufacturers (internationally recognized)
US-Oman FTA: Omani exporters to US benefit from duty-free access

9. ECONOMIC IMPACT & STRATEGIC POSITION

A. Trade Balance Dynamics:

Year	Trade Balance (OMR billion)	Trade Balance (US$ billion)
2021	4.8	12.5
2022	7.8	20.3 (peak)
2023	7.78	20.2
2024	7.517	19.5

2024 Performance:

Trade surplus: OMR 7.517 billion (≈ US$19.5 billion)
Export growth: 6.8%
Import growth: 12.1%
Re-exports growth: 14.9%
Export-Import Coverage Ratio: 145% (OMR 24.23B exports vs. OMR 16.713B imports)

B. Global Strategic Position:

Hydrocarbon Powerhouse: Oil and gas represent 67.2% of total exports
Refining Hub: Duqm Refinery (operational 2024) driving 185.5% refined products export growth
Mining Potential: Chromite, copper, gypsum, limestone resources
Logistics Hub: Strategic location on Indian Ocean, near Strait of Hormuz
Port Infrastructure: World-class ports at Salalah, Sohar, Duqm
GCC Member: Integrated with Gulf Cooperation Council economies
US FTA Partner: Only GCC country with bilateral FTA with United States
Indian Ocean Presence: Strategic position on global shipping lanes

C. Competitiveness Indicators:

Indicator	Value	Global Rank
Exports Per Capita	US$12,500	32nd globally
Imports Per Capita	US$8,600	52nd globally
Ease of Doing Business	68.8	68th (2019)
Logistics Performance Index	3.2	62nd (2016)

D. Development Strategy (Oman Vision 2040):

Key Objectives:

Private sector contribution to GDP: Increase from 60% to 90%
Foreign direct investment: Target 10% of GDP
Non-oil exports: Target 50% of total exports
Economic diversification: Manufacturing, logistics, tourism, mining, fisheries

Progress (2024):

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

E. Challenges:

Hydrocarbon Dependence: 67.2% of exports from oil and gas
Non-Oil Export Decline: -16.3% in 2024
Mineral Products Decline: -36.8%
Import Growth: +12.1% outpacing export growth
Global Energy Transition: Long-term demand uncertainty for fossil fuels
Fiscal Pressures: Government deficit, debt management
Private Sector Development: Historically state-dominated economy
Regional Competition: GCC neighbors’ ambitious diversification plans

F. Opportunities:

Duqm Refinery: Export capacity expansion, downstream petrochemicals
Liwa Plastics Complex: Polyethylene/polypropylene exports (+13.3% in 2024)
Mining Sector: Underexploited mineral resources (copper, chromite, gypsum)
Green Hydrogen: Major potential from solar and wind (Hydrom projects)
Logistics Hub: Ports expansion, GCC connectivity, Indian Ocean trade
US-Oman FTA: Unique market access to United States
Investment Reforms (2024): FDI exceeded OMR 30 billion; Investor Residency Program attracting global investors
Food Security: Agricultural development (“Najd Agricultural Area Guide”)
Tourism: Cruise tourism growth (114 ships, 416,000 tourists in 2024)
Fisheries: Underutilized marine resources

SUMMARY OF OMAN’S TRADE CHARACTERISTICS:

Hydrocarbon Dominance: 67.2% of exports from oil and gas (crude OMR 9.9B, refined OMR 3.85B, LNG OMR 2.53B)
Refined Products Surge: Refined petroleum exports ↑ 185.5% in 2024 (Duqm Refinery operational)
Non-Oil Export Challenges: ↓ 16.3% in 2024, with mineral products hardest hit (-36.8%)
Re-exports Growth: ↑ 14.9% to OMR 1.708 billion; UAE (#1 re-export market)
Asian Market Focus: China (#2 import partner), India (#3 non-oil export partner), Korea, Japan key buyers
GCC Integration: UAE (#1 non-oil export destination, #1 import origin); Saudi Arabia (#2 non-oil export destination)
Port Infrastructure: 137 million tonnes cargo (2024); Salalah (3.3M TEU), Sohar (942K+ TEU), Duqm (+152% growth)
2024 Regulatory Developments: QR code verification for Bayan documents; traveller’s customs guide; simplified procedures
Investment Boom: FDI exceeded OMR 30 billion; commercial registrations ↑ 13.96%; 3,407 Investor Residency cards issued
Trade Surplus Normalizing: OMR 7.517 billion surplus in 2024 (from peak OMR 7.78B in 2023)

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

The 2024 regulatory landscape saw significant digitalization: QR code verification for Bayan customs documents (preventing forgery), a comprehensive traveller’s guide clarifying exemptions and limits, and enhanced e-government services . Investment climate reforms yielded 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, with Salalah Port’s container terminal expansion (now 6.5M TEU capacity) and Duqm Port’s 152% growth demonstrating the country’s logistics potential . The US-Oman FTA provides unique market access to the United States, while GCC integration remains central with UAE and Saudi Arabia as top trade partners.

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