As per the official data, Oman’s trade surplus fell 42% to more than 3.88 billion Omani rials (USD 10 billion) by the end of September 2025, down from over 6.74 billion rials in the same period of 2024. The preliminary figures from the National Centre for Statistics and Information showed the decline was largely driven by a drop in oil and gas exports.
“Oman’s trade profile remains anchored in hydrocarbons, with mineral fuels, oils and related products consistently the largest export category, even as non-oil segments such as plastics, iron and steel contribute to diversification. The data highlights Oman’s ongoing efforts to diversify its economy, with non-oil exports continuing to grow despite declines in the hydrocarbon sector,” reported the Oman News Agency (ONA).
“This decrease is mainly attributed to the decline in Oman’s oil and gas exports by 16.5% to reach 10.92 billion rials by the end of September 2025, compared to 13.07 billion rials during the same period in 2024. In contrast, non-oil merchandise exports to the Sultanate of Oman grew by 10.3% to reach a value of 5 billion rials by the end of September 2025, compared to 4.53 billion rials during the same period in 2024,” the media agency stated.
Overall merchandise exports declined 9.1% to 17.18 billion rials, while re-exports fell 2.6% to 1.27 billion rials. Registered imports, on the other hand, increased 9.3% to 13.30 billion rials, up from 12.16 billion rials a year earlier.
Among trading partners, the UAE led Oman’s non-oil exports at 945 million rials, up 28.3%, and remained the top re-export destination at 484 million rials. The Gulf major was also the Sultanate’s largest source of imports at 3.07 billion rials, followed by China (1.35 billion rials) and Kuwait (1.15 billion rials). Saudi Arabia and India were the next-largest recipients of non-oil exports, while Iran and the Kingdom followed in re-exports.
Oman’s financial activity, meanwhile, remained robust, with total credit extended by local banks rising 9% to 34.7 billion rials by the end of October 2025. Lending to the private sector increased 5.8% to 28.3 billion rials, stated the Central Bank of Oman. Non-financial corporates, on the other hand, accounted for 46.8% of total credit, while individuals held 44.7%. Financial corporates and other sectors made up the remaining 8.5%.
“Bank deposits rose 3.5% to 33 billion rials, while private sector deposits increased 9.4% to 22.3 billion rials. Individuals accounted for the largest share at 50.4%, followed by non-financial corporates at 30.3% and financial corporates at 17.2%,” ONA concluded.