Oman’s trade balance showed a significant improvement in the first half of 2026, achieving a surplus of approximately OMR4.7 billion. This marks a substantial 51% increase from the OMR3.1 billion recorded during the same timeframe last year. The rise in trade surplus is attributed primarily to a boost in merchandise exports, which surged by 15.3% to reach around OMR13.2 billion by the end of June, largely fueled by a stronger performance in oil and gas exports.
The value of oil and gas exports increased by 16.5% to OMR8.6 billion, up from OMR7.4 billion in the previous year. Additionally, non-oil exports saw a rise of 11.4%, amounting to approximately OMR3.6 billion, while re-exports grew by 20% to OMR978 million. Meanwhile, merchandise imports experienced a modest increase of 2.1%, totaling OMR8.6 billion.
The United Arab Emirates emerged as the largest market for Oman’s non-oil exports, importing goods valued at OMR1.134 billion. Saudi Arabia was the second-largest recipient, with OMR357 million, and India was third, importing OMR333 million worth of goods. In terms of re-exports, Iran was the leading destination, receiving OMR254 million worth of goods. The UAE followed with OMR221 million, and Saudi Arabia was next with OMR188 million.
On the import side, the UAE was Oman’s most significant trading partner, supplying goods worth OMR2.423 billion. China was the second-largest supplier with imports amounting to OMR1.194 billion, followed by Türkiye, which provided goods valued at OMR676 million.