Export insurance grows 6% as Oman boosts non-oil sales
MUSCAT: The total value of insured Omani non-oil exports rose to RO 61.2 million in the first quarter of 2025, marking a 6% increase compared to RO 57.75 million recorded during the same period last year, according to Credit Oman.
Khalil bin Ahmed al Harthy, CEO of Credit Oman, highlighted notable growth across several sectors. Export sales in the building and construction materials sector increased by 24%, reaching RO 27.16 million. The petrochemicals and plastics sector also posted a strong 45% rise, amounting to RO 9.19 million, while the mining sector saw an impressive 150% surge to RO 570,000. Meanwhile, the agricultural sector recorded a 96% growth, totalling around RO 5 million.
However, he noted that some sectors such as packaging, fisheries and garments experienced a downturn, reflecting varying dynamics across industries.
'These results underscore the positive trajectory of the national economy and ongoing government efforts to support economic diversification,' Al Harthy stated.
He added that Credit Oman continues to support Omani manufacturers and exporters by offering comprehensive insurance services and helping overcome market access challenges, particularly in new and international markets.
Data also shows that overall non-oil exports from Oman increased by 8.6% in the first quarter of 2025, rising to RO 1.618 billion compared to RO 1.490 billion during the same period in 2024. — ONA
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