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19-12-2023
Oman exported $68.7 billion worth of products globally in 2022. Compared to $44.6 billion in 2021, Oman's total exports increased by 54% year-on-year.
Oman's top 5 most valuable exports are crude oil, liquefied petroleum gas (LPG), processed petroleum, nitrogen fertilizers, and semi-finished products made of iron or non-alloy steel. Together, these five product groups account for more than four-fifths (86.9%) of Oman's total exports in 2022 in terms of value.
Oman's Top 10 Exports
1. Fossil fuels, including oil: $53.6 billion (78% of total exports)
2. Fertilizers: $3.6 billion (5.3 per cent)
3. Iron and steel: $3.2 billion (4.7%)
4. Organic chemicals: $2.3 billion (3.3%)
5. Plastics, plastic products: $2 billion (2.9%)
6. Aluminum: $1.2 billion (1.8%)
7. Ores, slag, ash: $730.6 million (1.1%)
8. Iron and steel products: $333.6 million (0.5%)
9. Salt, sulfur, stone, cement: $331.4 million (0.5%)
10. Fish: $234.2 million (0.3%)
Oman's top ten export categories account for 98.4% of Oman's total global exports.
Fertilizers were the fastest growing of the top 10 export categories, up 141.6% from 2021. The second highest growth in export sales was in fossil fuels, including oil: led by LPG, refined oil and crude oil, which grew by 98.8%. Omani iron and steel shipments saw the third-fastest increase in value, up 83.9%.
The biggest fall in Oman's top ten export categories was in iron and steel products, which saw a year-on-year decrease in value of -35.9 %.
Drilling down to the more granular four-digit HS code, crude oil was Oman's most valuable export, accounting for 48.4% of the country's total exports. In second place was liquefied petroleum gas (19%), followed by processed petroleum (10.3%), nitrogenous fertilizers (5.2%), semi-finished products of iron or non-alloy steel (4%), acyclic alcohols (2.8%), iron ores and concentrates (1%), polyacetals, ethers and carbonates (0.8%), plastic sheets, plates or strips (0.8%) and then unwrought aluminum (0.8%).
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