Oman’s trade surplus held steady at 1.54 billion Omani rials ($4.01bn) in the first quarter of 2026, as imports fell faster than exports, preliminary data showed.
Total merchandise exports fell 8.5 per cent year-on-year to 5.3bn rials, while imports declined 11.7pc to 3.8bn rials, according to preliminary data from the National Centre for Statistics and Information (NCSI).
The latest figures highlight the resilience of Oman’s external trade position despite weaker hydrocarbon exports, with lower import costs helping to preserve a sizable trade surplus. The sultanate has been working to diversify its economy under Oman Vision 2040 by expanding non-oil industries, boosting exports, and strengthening trade links with regional and international partners, while reducing its reliance on oil and gas revenues.
“The decline in merchandise exports was mainly driven by lower oil and gas exports, which fell by 13pc to 3.4bn rials by the end of March 2026, compared with 3.9bn rials a year earlier,” Oman News Agency reported.
The agency further added that non-oil exports edged down slightly by 0.6pc to 1.61bn rials, compared with 1.62bn rials in the same period of 2025.
Within the hydrocarbon segment, crude oil exports fell 14.4pc, liquefied natural gas declined 12.5pc, and refined oil dropped 8.4pc, underscoring continued sensitivity to energy market dynamics, according to NCSI’s monthly statistical bulletin.
The report shows that oil and gas accounted for roughly two-thirds of total merchandise exports in the quarter, highlighting the sector’s continued dominance in Oman’s external trade structure despite diversification efforts.
Re-exports rose by 4.6pc to 367 million rials by the end of the third month of 2026, compared with 351m rials a year earlier.
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