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Oman’s exports rise to OMR11.9bn

Oman’s exports rise to OMR11.9bn

Muscat: Oman’s exports increased to OMR11.9 billion until the end of September 2018 compared to the same period in 2017, which amounted to OMR9.13 billion, the Ministry of Commerce and Industry (MoCI) said in its latest report.

The total exports of Omani origin products increased to about OMR2.95 billion at the end of September 2018 compared to the same period in 2017, which amounted to OMR2.3 billion, the report added.

Oman’s imports also increased to OMR7.6 billion until the end of September 2018, compared to the same period in 2017, which amounted to OMR 7.2 billion. Most of the imports were through seaports which ranked first compared to other means of import.

The ministry data shows that, the Imported goods through the seaports accounted for the largest percentage, amounting to OMR 4.14 billion, which constitutes 54.5 per cent of the total imported goods.

Goods that come through the land crossings came in second place amounting OMR2.2 billion at 29.2 per cent, while 16.3 per cent of import goods were received by air amounted to OMR 1.2 billion of the total imports until the end of September 2018.

Domestic trade’s contribution to the gross domestic product in most commercial economic activities, including wholesale and retail trade at current prices increased by 4.8 per cent, reaching OMR1.6 billion until the end of 2018 compared with the same period in 2017.

The contribution of service sector activities in GDP also increased by 4.1 per cent reaching OMR10.5 billion until the end of 2018 compared to the same period in 2017 which amounted to OMR10.1 billion.

The ministry added the external trade (imports with commodity exports including oil) rose at the end of 2018, recording an amount of OMR19.5 billion compared to the same period in 2017, which was estimated at OMR16.4 billion.

In the first six months of 2019 more than 110,000 business records were registered with the Ministry. This is an increase of 68 per cent compared to the same period in 2018. Investment Services Centre at the Ministry received 20 projects, which is expected to offer 10,000 jobs when they are inaugurated.

The ministry said: “The number of projects received by the Center reached 20 in various sectors such as trade, industry, health, tourism, agriculture, livestock, fisheries and mining. Most of these projects are concentrated in the five sectors that are the focus of the ninth five-year plan.”

“The total investment for these projects is more than OMR5.235 billion, including a wind power project. These projects, if approved and implemented, will create more than 10,000 jobs.”