Prime Highlights
- Oman’s non-oil exports rose 7.5% to 6.7 billion rials in 2025, with re-exports surging 20.3%, underscoring stronger diversification and trade momentum.
- The Sultanate’s reform drive gained recognition as Fitch Ratings upgraded it to investment grade, citing improved fiscal discipline and reduced public debt.
Key Facts
- Government debt declined to about 36% of GDP in 2025, down from nearly 68% in 2020, reflecting strengthened public finances and external stability.
- Oil and gas export values fell 15.2% to 14.5 billion rials due to lower crude prices averaging $71 per barrel, while total merchandise trade reached 40.4 billion rials.
Background
Oman increased its non-oil exports by 7.5 percent in 2025, reaching 6.7 billion Omani rials ($17.4 billion), as the country steadily expanded its economy. The National Centre for Statistics and Information reported that non-hydrocarbon sectors performed strongly, even though lower crude prices reduced overall export revenues.
Re-export activity recorded even faster growth, rising 20.3 percent year-on-year to 2.05 billion rials. Oman is boosting its role as a regional trade gateway as stronger trade flows pass through its ports and logistics hubs.
The positive trend aligns with Oman’s broader economic reforms. In December, Fitch Ratings upgraded the Sultanate to investment grade, raising its long-term foreign-currency rating to BBB- from BB+. The agency said that Oman strengthened its public finances, improved external stability, and kept strict fiscal discipline. The government reduced its debt to about 36 percent of GDP in 2025, down from almost 68 percent in 2020.
Chemical products, metals, plastics, machinery and electrical equipment led non-oil exports last year. The United Arab Emirates remained Oman’s largest partner for non-oil exports, with shipments exceeding 1.31 billion rials, up 25.3 percent. Exports to Saudi Arabia crossed 1.07 billion rials, while exports to India rose 6 percent to about 700 million rials.
Oil and gas export values declined 15.2 percent to 14.5 billion rials due to lower average crude prices of $71 per barrel. Daily oil production increased to more than one million barrels per day in 2025. Total merchandise exports stood at 23.2 billion rials, while imports rose moderately to 17.1 billion rials.
Oman traded 40.4 billion rials worth of goods in 2025. The data shows that Oman is steadily shifting to a stronger, more balanced economy, led by non-oil industries and growing trade with nearby countries.
