Oman has long been a strategic hub in global commerce due to its location by the Strait of Hormuz, serving as a gateway for energy and goods between Asia, Europe, and Africa. Oman’s economy is highly trade-oriented, with imports and exports constituting a substantial share of its GDP. According to Oman import-export data from leading global import export data providers, petroleum fuels dominate exports, while machinery and consumer products make up much of the import profile. Bilateral trade with major partners such as the UAE, Saudi Arabia, India, China, and the United States has shaped trends in the 2024-25 period. Reliable import export trade data provider consistently highlight Oman’s diversification efforts beyond hydrocarbons into manufacturing, minerals, and industrial goods.
Global Import Export Trade Data on Oman
Oman’s foreign trade remains anchored in its energy exports, particularly crude oil and gas products, which account for the bulk of export values. According to comprehensive Oman import-export data from global import export data providers, mineral fuels (including oil and petroleum) constitute over 70% of total exports, followed by plastics, ores, iron/steel, and fertilizers. These figures reflect both historical dependency on hydrocarbons and strategic efforts to diversify the export base. On the import side, Oman sources major goods including machinery, vehicles, consumer electronics, and refined products from global partners, with a large portion sourced from neighboring Gulf countries.
Oman’s Total Trade in 2024-25
In the fiscal year 2024-25, Oman’s trade activities have been robust, with bilateral and multilateral flows reinforcing its economic relevance. The total Oman import-export data reveals that exports remained weighted toward energy and related sectors, while significant volumes of industrial and consumer goods were imported to support both domestic demand and re-exports. This year also saw expanded ties with major trade partners and investment flows into free trade zones, boosting overall trade figures. Oman’s trade with key partners has contributed to steady growth, even as global markets face disruptions from geopolitical tensions and energy price shifts.
Top Omani Export Products in 2024
According to import export data compiled by respected global import export data providers, the top products exported from Oman in 2024 include:
- Mineral Fuels / Petroleum Products – Dominant share of exports (~71%).
- Plastics and Plastic Articles – Significant industrial export group.
- Ores, Slag, Ash – Major raw mineral outputs.
- Iron and Steel – Industrial metal exports.
- Fertilizers – Agricultural and industrial fertilizers.
- Aluminum and Related Products – Diversification into metals.
- Electrical Machinery – Technology components.
- Machinery & Computers – Industrial equipment exports.
- Gems and Precious Metals – Growing niche.
- Organic Chemicals – Chemical product shipments.
These top export groups illustrate Oman’s push to elevate non-oil exports even as it remains a key energy supplier to global markets.
Top 5 Export/Import Partner Countries
Oman’s international trading partners reveal its strategic global links. Based on Oman import-export data from major providers:
Top Export Partners
- United Arab Emirates (UAE)
- Saudi Arabia
- South Korea
- China
- India
Top Import Suppliers
- United Arab Emirates (UAE)
- Saudi Arabia
- China
- India
- Qatar
These partner countries not only reflect geographic and economic proximity but also strategic sectors like energy, petrochemicals, and industrial goods. Oman’s trade network continues to thrive across the Middle East and Asia.
Top 5 Buyers and Suppliers
In addition to bilateral country partners, Oman’s major buyers and suppliers of key goods show a similar pattern:
Top Buyers (Exports)
- UAE — Primary buyer of energy and industrial products.
- Saudi Arabia — Strong demand for fuels and minerals.
- South Korea — Energy and industrial goods purchaser.
- China — Major industrial partner.
- India — Growing consumer and industrial goods market.
Top Suppliers (Imports)
- UAE — Machinery, vehicles, electronics.
- Saudi Arabia — Refined products and industrial materials.
- China — Electronics, machinery parts.
- India — Industrial machinery, food products.
- Qatar — Building materials and equipment.
These flows are consistently tracked by the best import export trade data providers and remain central to Oman’s evolving trade structure.
Top Export/Import Companies in India
India’s trade ecosystem also includes leading companies that benefit from the Oman market dynamics (based on India import export data and general trade insights):
Top Indian Export/Import Companies
- Tata Group – Exports machinery, steel products.
- Reliance Industries – Supplies petrochemicals and fuels.
- Larsen & Toubro (L&T) – Engineering goods to Oman’s industrial sectors.
- Mahindra & Mahindra – Vehicle and machinery exports.
- Adani Group – Diversified trading and logistics.
These players leverage robust trade channels supported by India import export data to optimize their exports to Oman and import of materials like energy components, industrial equipment, and raw materials.
HSN Codes – Key Omani Trade Segments
Harmonized System (HS) Codes simplify global trade classification. Some critical HS codes relevant to Oman’s major products include:
| HS Code | Product Description |
|---|---|
| 2709 | Petroleum Oils and Products |
| 3901–3926 | Plastics & Articles |
| 2601–2620 | Ores, Slag, Ash |
| 7201 | Iron and Steel |
| 3102 | Fertilizers (Urea) |
| 7601 | Aluminum Products |
| 8517 | Electrical Machinery |
| 8471 | Machinery, Computers |
| 7103 | Precious Stones, Metals |
| 2915 | Organic Chemicals |
These codes are frequently referenced in Oman Import-Export Data from import export trade data providers to ensure accurate tracking, compliance, and tariff classification.
Global Trade Challenges and Opportunities
Challenges
- Volatility in energy prices affects Oman’s primary export revenues.
- Geopolitical tensions (e.g., Middle East unrest) can disrupt shipping and supply chains.
- Dependence on hydrocarbon exports limits diversification potential.
- Global economic slowdown risks weigh on demand for industrial exports.
Opportunities
- Diversification into non-oil sectors (minerals, manufacturing, chemicals).
- Growth in renewable and industrial goods exports tracked by leading global import export data providers.
- Strategic trade agreements (like India–Oman CEPA) that reduce tariffs and boost bilateral investment.
- Expanding infrastructure and logistics networks to serve Africa and Asia markets.
The trade landscape presents both hurdles and promising avenues for expansion beyond traditional segments.
Latest News on Oman Trade
Here are key developments shaping current discourse around Oman’s trade:
📌 India and Oman signed a Comprehensive Economic Partnership Agreement (CEPA) that expands bilateral trade, offering zero duty on the majority of Indian exports and potentially boosting India’s export volumes by billions in coming years.
📌 The pact is expected to significantly strengthen Oman-India trade relations, enhancing market access across sectors like textiles, machinery, pharmaceuticals, and automobiles — a major milestone in India’s export strategy.
Conclusion
The Oman import and export trade ecosystem remains a dynamic and strategic part of global commerce. With strong energy exports, expanding industrial goods exports, diversified import sources, and new trade agreements like the India-Oman CEPA, Oman’s trade prospects are evolving rapidly. By using reliable import export trade data providers and continuous updates Search live data from India import export data and Oman import-export data, businesses and policymakers can make informed decisions in this pivotal Gulf economic landscape.
By Naveen Kumar
By Vijay
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