Industry Insights

OMAN's TRADE POTENTIAL

The Sultanate of Oman is geared towards achieving Vision 2040, an ambitious plan which will transform the nation and enable economic diversification.

Aligned with the goals of Vision 2040, specifically ‘Creating Wealth through Economic Diversification and Private Sector Partnership’, Credit Oman, as the leading credit insurer in Oman, is empowering the private sector to grow beyond borders. Economic diversification entails the shift from an oil-based economy, to one that is driven by the private sector and SMEs, for national prosperity.

TRADE FIGURES - OMAN

57

Global Rank,
Total Exports

67

Global Rank,
Total Imports

OMR 3.2 B

Value of Total
Non-oil Exports

OMR 9 B

Value of
Total Imports

Top Products – Exports

  • Semi-Finished Iron
  • Iron & Steel
  • Organic Chemicals
  • Plastics
  • Nitrogenous Fertilizers
  • Ores
  • Aluminum

Top non-oil export markets (2020)

  • UAE
  • Kingdom Saudi Arabia
  • India
  • Qatar
  • United States
  • Others

* Data based on latest figures from 2019. Sources: OEC & ITC

OMAN's UNTAPPED POTENTIAL

Oman has an untapped export potential of over 20 Billion Omani Riyals (USD 5.2 billion), with the key markets for exports being the United Arab Emirates, China, India and the United States. Credit Oman’s trade credit insurance products can support companies registered in Oman to bridge this gap and realize Oman’s full export potential.

Explore more about the export potential of Oman, the untapped trade potential, as well as thriving industries, at the following websites: