Oman trade balance swings into surplus
The Omani ministry of national economy reported that the Sultanate's foreign trade balance had recovered noticeably last year. Official sources said the key factors behind the surge were higher oil prices, larger volumes of oil exports and a decline in imports.
Reportedly, Omani merchandise exports grew by 62.7 percent during the year 2000. By the end of November 2000, the total value of the Omani merchandise exports hit 3.993 billion Omani riyals, compared with OR 2.454 billion during the corresponding period of the previous year
According to Al-Hayat daily, the value of imports to Oman amounted to OR 1.762 billion during the first 11 months of 2000, up from OR 1.657 billion in the corresponding period of 1999. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)