Oman’s trade balance achieved a significant surplus of approximately OMR4.7 billion in the first six months of 2026, marking a substantial 51% increase from OMR3.1 billion recorded over the same duration in the previous year. This growth, as highlighted by official data, is primarily attributed to a notable rise in merchandise exports, which surged by 15.3% to reach around OMR13.2 billion by the end of June. The expansion was largely fueled by a robust performance in oil and gas exports, which saw a 16.5% increase, climbing from OMR7.4 billion to OMR8.6 billion.
In addition to the strong oil and gas sector, non-oil exports also contributed to the positive trend, growing by 11.4% to approximately OMR3.6 billion. Meanwhile, re-exports saw a remarkable increase of 20%, reaching OMR978 million. Conversely, merchandise imports experienced a modest rise of just 2.1%, totaling OMR8.6 billion during the same period.
The United Arab Emirates emerged as the primary destination for Oman’s non-oil exports, receiving goods valued at OMR1.134 billion. Saudi Arabia was the second-largest recipient with OMR357 million, followed by India, which accounted for OMR333 million in non-oil goods.
For re-exports, Iran topped the list of destinations, importing OMR254 million worth of goods. The UAE and Saudi Arabia were also significant markets, receiving OMR221 million and OMR188 million, respectively.
On the import front, the UAE continued to be Oman’s largest trading partner, providing goods worth OMR2.423 billion. China was the second-largest supplier, with imports totaling OMR1.194 billion, while Türkiye ranked third, contributing OMR676 million to Oman’s import figures.