Oman-Saudi trade exceeds $2.6b in the first half of 2024

Dubai: Trade between Oman and Saudi Arabia surpasses $2.6 billion (Dh9.5 billion) in the first half of 2024.

Omani exports to Saudi Arabia were primarily driven by metal products, which totalled $418 million (Dh1.5 billion), as reported by the Oman News Agency, citing the National Centre for Statistics and Information.

Following metal products, mineral and related exports reached $246 million (Dh903 million), while machinery, digital devices, and electrical equipment accounted for $88 million (Dh323 million).

Oman's imports from Saudi Arabia were also led by metal products, valued at $740 million (Dh2.7 billion), with chemicals and related industries contributing $358 million (Dh1.3 billion).

In terms of direct investment, Saudi Arabia invested $314 million (Dh1.5 billion) in Oman during the first half of 2024, an increase from $210 million (Dh771 million) at the end of 2021.

Additionally, Omani investments in Saudi Arabia reached $335 million (Dh1.2 billion) by the end of 2022.