Report: Oman Exports Soared 62.7 percent in 2000
Oman's commodity exports rose by 62.7 percent to 3.99 billion ($10.4b) riyals during the first 11 months of last year compared to 1999 figures, according to a report by the Ministry of National Economy, cited by Gulf News.
According to the report, non-oil commodities fetched 227.8 million riyals, constituting 26.8 percent of the total exports, while the petroleum sector saw exports zooming 78.2. Re-exports rose to 457.8 million riyals from 418.7 million riyals.
According to the Central Bank of Oman, money supply registered a 4.8 percent rise to 533.9 million riyals by end-2000 due to an 8.9 percent increase in Omani riyal demand deposits and a 1.2 percent rise in the value of currency outside the commercial banks. Quasi money (savings deposits, Omani riyal and foreign currency term deposits and foreign deposits) rose by 6.4 percent to 1.87 billion riyals.
Broad money supply rose 6 percent to 2.2 billion riyals, and total credit offered by commercial banks 2.8 per cent to 2.98 billion riyals. Commercial bank deposits amounted to 2.51 billion riyals, up 6.7 per cent, with credit capital and reserves totaled 433.3 million riyals, constituting 17.3 per cent of the deposits and 10.9 per cent of the assets.
The weighted average interest on private sector Omani riyal lending rose to 7.9 percent in March 1999, 8 percent in June 1999 and 8.3 percent by September, before falling to 8 percent in December 1999, and to 7 percent in December 2000 – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)