Trade exchange between Oman and KSA tops OMR1.014 billion

Muscat: The volume of trade between the Sultanate of Oman and the Kingdom of Saudi Arabia reached OMR1,014,494,718 by the end of June 2024, according to the data issued by the National Centre for Statistics and Information (NCSI).

Metal products constituted the largest value of Omani exports to the KSA with a value of OMR160,547,747. This was followed by minerals and related products with a value of OMR95,036,061.

Moreover, machinery, digital devices and electric equipment and their parts came next with a value of OMR33,592,718.

On the other hand, metal products also constituted the largest value of imports from the Kingdom of Saudi Arabia to the Sultanate (OMR284,941,374), followed by chemicals and related industries with a value of OMR137,967,829. The products of food industry, drinks, alcohols, vinegar, tobacco and synthetic alternatives to tobacco reached OMR38,882,937.

Direct Saudi investment in the Sultanate of Oman reached OMR121.1 million, comprising a rise from OMR80.6 million by the end of 2021 (50.2%).

Omani direct investment in Saudi Arabia reached OMR129.1 million by the end of 2022.

The Rub Al Khali port represented a qualitative shift in trade exchange between the two countries, as the value of goods imported through the port by the end of June 2024 amounted to OMR159, 678, 381, with a total weight of 324,529, 044 kilograms, compared to OMR118, 724, 376, with a total weight of 254, 142, 296 kilograms by the end of June 2024.

The Kingdom of Saudi Arabia is one of the most prominent tourism partners of the Sultanate of Oman, as the number of Saudi visitors coming to the Sultanate of Oman until the end of August 2024 reached about 87,710.

Statistics from the National Centre for Statistics and Information indicate that the number of Saudis residing in Oman reached 1,517 residents by the end of June 2024, including 989 males and 528 females, while the number of Saudi students in government schools in the Sultanate of Oman for the academic year 2023/2024 reached about 341, including 160 males and 181 females, while the number of Saudi students in higher education institutions in the Sultanate of Oman for the academic year 2022/2023 reached about 103 students, including 84 males and 19 females. -ONA