Skip to content Skip to Search
Skip navigation

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.

Latest articles

The Al Nakhla compound bought by Sarcc is set in 250,000 sq m of gardens

PIF worker housing company buys luxury compound

Smart Accommodation for Residential Complexes Company (Sarcc), the company established to provide housing for workers employed on major projects, has bought a luxury residential compound in Riyadh.  Sarcc acquired Al Nakhla Residential Resort in Riyadh for SR2.5 billion ($667 million).  The development, located in northern Riyadh, has more than 600 apartments and over 500 villas.   […]

Mohammed Alardhi, executive chairman of Investcorp, has welcomed Donald Trump's return to power, saying: 'We think the new administration is pro-growth'

Investcorp chairman weighs IPO or deal with strategic investor

Investcorp is considering a tie-up with a strategic investor or an initial public offering in the next few years, its executive chairman has said.  Mohammed Alardhi said the Bahrain-based alternative asset manager had streamlined its strategy and reshuffled its leadership and management teams.  For its next period of growth, Investcorp may look to outside investment, […]

Mubadla's Khaldoon Al Mubarak told the World Economic Forum in Davos that 'every sector is going to be disrupted' by AI

Mubadala seeks to balance AI risks and rewards

Artificial intelligence “presents a significant amount of risk” but also “a lot of opportunity”, the head of one of Abu Dhabi’s largest sovereign wealth funds said this week. On Tuesday the emirate launched a new digital strategy that aims to invest AED13 billion ($3.54 billion) over the next two years. “In terms of the risks […]

Mohammed Shia Al-Sudani, Iraq’s prime minister, has revealed plans for major oil, gas and petrochemical projects

Iraq makes huge oil discovery but faces Opec restrictions

Iraq has announced the discovery of a massive oil field expected to significantly increase the country’s hydrocarbon reserves, but Baghdad will face a number of challenges in its attempt to exploit the new resource. The field, located in the central part of the country, contains more than 2 billion barrels of medium and light crude […]