In 2021, Saudi Arabia will be Oman’s fourth trading partner, after China, the United Arab Emirates and India.
Bilateral industry between the Sultanate of Oman and Saudi Arabia more than doubled to more than RO 1249 million in the first part of 2022, up from RO 595 million in the first part of 2021, a cumulative 210%.
Saudi Arabia’s exports to Oman were priced at RO 831 million, while exports from Oman to Saudi Arabia were priced at RO 418 million at the end of June 2022. The main Saudi export product included metals, with a total price of RO 538. On the other hand, Oman exported 139 million RO of metals to Saudi Arabia on H1, 2022.
Earlier this month, Eng Ridha Juma al Saleh, chairman of the board of directors of the Oman Chamber of Commerce and Industry, told the fourth assembly of the Omani-Saudi Business Council in Riyadh, that as of the end of May 2022, the industry between the two countries has already reached a value of RO 1. 009 billion. The volume of Saudi investment recorded in Oman amounted to RO 1. 477 billion.
Citing indicators, Al Saleh noted that a “continuous upward curve” is observed in the industry between the Sultanate of Oman and the Kingdom of Saudi Arabia.
In 2021, Saudi Arabia, Oman’s fourth largest trading partner, after China, the United Arab Emirates and India, with RO 1. 3 billion in merchandise trade. Increased investment and cooperation between the two countries is observed in the fields of energy and mining, food security, technology, logistics, industries and structure and services.
2022 © All rights reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided through SyndiGate Media Inc. (Syndigate. info).