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Oman-Saudi trade tops $2.6bn in first half of 2024

By Pramod Kumar
Oman Saudi trade Water, Waterfront, Port Oman News Agency
Metal products accounted for the largest proportion of Omani exports to Saudi Arabia by value, totalling OMR161 million

Trade between Oman and Saudi Arabia exceeded OMR1 billion ($2.6 billion) in the first six months of 2024, official data shows.

Metal products accounted for the largest proportion of Omani exports to the kingdom by value, totalling OMR161 million, the state-run Oman News Agency reported, quoting data from the National Centre for Statistics and Information.

Minerals and related products followed with exports worth OMR95 million, while exports of machinery, digital devices and electrical equipment and their parts amounted to OMR34 million.

Metal products also constituted the largest component by value of import trade from Saudi Arabia to Oman, at OMR285 million, followed by chemicals and related industries, at OMR138 million.

Direct investment in the sultanate from Saudi Arabia reached OMR121 million in the first six months of 2024, up from OMR81 million by the end of 2021.

Going the other way, direct investment from Oman to the kingdom hit OMR129 million by the end of 2022, the data showed.

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