The total volume of trade between Oman and its 10 main partners during 2016 amounted to OMR15.25 billion, representing 80.2 per cent of the total trade volume of Oman, with the surplus in trade balance for Oman reaching OMR466 million (not including refined oil).
Data from the Department of Statistics in the Ministry of Commerce and Industry showed that the UAE ranked first among the top 10 partners with a total trade volume of OMR5.51 billion at the end of 2016. The trade balance between the Sultanate and the UAE is in favour of the UAE, due to the increase in imports compared with exports, which amounted to OMR3.16 billion.
China came second with a trade volume of OMR4.75 billion. The trade surplus for the Sultanate was worth OMR3.84 billion.
The volume of trade with South Korea amounted to OMR882.92 million, with the trade surplus for the Sultanate amounting to OMR618.43 million.
The volume of trade with Saudi Arabia amounted to OMR731.53 million, with the balance of trade being in favour of the Sultanate, amounting to OMR91.7 million.
Similarly, the volume of trade with the United States amounted to OMR721.77 million, with the balance of trade being in favour of the United States at OMR112.87 million. The volume of trade between the Sultanate and Yemen amounted to OMR354.62 million, while the volume of trade with Iran amounted to OMR349.80 million, the balance of trade being in favour of Iran.
The volume of trade exchange with Taiwan amounted to OMR347.74 million, with a trade surplus in favour of the Sultanate at OMR317.35 million.