Oman’s oil and gas exports have dropped 9.7% in the first half of 2014 compared to the same period last year causing a fall in the total value of exports in the sultanate.
This is according to figures by Oman’s National Centre for Statistics and Information which point that the value of oil and gas products declined from approximately $19bn exported by the end of H1 2013 to about $17bn recorded at the end of H1 2014. Having a major share in the sultanate’s total export market, financial experts ascribe an overall 9.6% decrease across all exports combined to the fall in oil and gas commodities.
During the same period, the total value of re-exports also declined by 20.8%, recording re-exports of $4.9bn by the end of H1 2013, which dropped to a total of $3.9bn during the same period in this year. Within the export categories, Oman saw an increase in the first half of 2014 in the non-oil exports which grew by 3.3%, totaling $4.8bn compared with $4.6bn during the same period last year.
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