Trade between Oman and Qatar more than doubled in 2018

Muscat - 

The bilateral trade between Oman and Qatar more than doubled in the first nine months of 2018, mainly driven by a five-fold surge in imports from Qatar and a sharp rise in the sultanate’s non-oil exports.

Total trade between Oman and Qatar rose to RO798.8mn in January – September period of 2018 as against RO368.1mn in the corresponding period of previous year, recording a sharp rise of 117 per cent, according to the statistics released by the National Centre for Statistics and Information (NCSI).

Oman’s merchandise imports from Qatar jumped to RO246.8mn in the first nine months of 2018 compared to RO45.7mn in the same period of 2017, witnessing a whooping 440 per cent growth, the NCSI data showed.

The Oman-Qatar trade witnessed a sharp rise last year after a spat between Qatar and other GCC countries resulted in imposing a blockade against the word’s largest exporter of natural gas in 2017.

Qatar, which is going to host the FIFA World Cup 2022, also depends on Omani ports for importing a number of items. And that effectively means trade relations between both countries are likely to remain strong in near future.

Oman’s non-oil exports to Qatar jumped 118.3 per cent to RO283.6mn in the first nine months of last year from RO129.9mn in the same period a year ago. Qatar has emerged as the third biggest destination for Oman’s non-oil shipments after the UAE and Saudi Arabia, which continued to remain the largest non-oil trading partner of the sultanate.

The sultanate’s total non-oil exports rose 25 per cent to RO2.95bn during January - September period of 2018 as against RO2.36bn recorded in the same period a year ago, the NSCI data showed.

Oman’s re-exports to Qatar also increased by over 39 per cent to RO268.4mn compared to RO192.5mn in the corresponding period in 2017.

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