In a significant economic development, Oman achieved a trade surplus of approximately OMR4.7 billion in the first half of 2026, marking a 51% increase from the OMR3.1 billion surplus recorded during the same timeframe last year. This surge was primarily fueled by a robust rise in merchandise exports, which climbed 15.3% to reach around OMR13.2 billion by the end of June. The lion’s share of this growth came from oil and gas exports, which saw a substantial 16.5% increase, totaling OMR8.6 billion compared to OMR7.4 billion in the previous year.
In addition to the strength in oil and gas exports, Oman also experienced a notable uptick in non-oil exports, which rose by 11.4% to approximately OMR3.6 billion. Re-exports further bolstered the trade figures, growing by 20% to OMR978 million. Meanwhile, merchandise imports saw a modest rise of just 2.1%, amounting to OMR8.6 billion, which contributed to the overall trade balance.
The United Arab Emirates emerged as the leading destination for Oman’s non-oil exports, receiving goods valued at OMR1.134 billion. Following the UAE, Saudi Arabia and India were significant markets, importing OMR357 million and OMR333 million worth of goods, respectively. As for re-exports, Iran topped the list with OMR254 million, with the UAE and Saudi Arabia also being key destinations for re-exported goods, accounting for OMR221 million and OMR188 million, respectively.
On the import front, the United Arab Emirates maintained its position as Oman’s principal trading partner, supplying goods worth OMR2.423 billion. China was the second-largest source of imports, contributing OMR1.194 billion, while Türkiye ranked third, providing goods valued at OMR676 million. These trading relationships highlight the UAE’s pivotal role in Oman’s trade dynamics, both as a major importer and exporter.
Overall, the data underscores a period of robust trade activity for Oman, with substantial contributions from both the oil and non-oil sectors. The increase in re-exports and the diverse range of trading partners reflect the country’s growing economic engagements and strategic positioning in regional and global markets.