Oman

Oman ranked No. 71 in total trade value through May with a total of $917.4 million. Exports totaled $535.05 million and Imports totaled $382.35 million, a surplus of $152.71 million.

U.S. trade with Oman rose to $782.66 million through May

Oman’s trade with the United States rose to $782.66 million through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 26.33 percent below its total trade during the same time period last year. U.S. exports to Oman decreased 29.44 percent while U.S. imports from Oman fell 21.46 percent. The U.S. surplus with Oman was $132.63 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Houston; No. 2 Port of Newark; No. 3 Port of Savannah, Ga.; No. 4 Port of New Orleans; and No. 5 Port of Charleston. During the same period the previous year, the top five were No. 1 Port of Newark; No. 2 Port of Houston; No. 3 Port of Everett, Wash.; No. 4 John F. Kennedy International Airport and No. 5 Port of Savannah, Ga.. In the current time period, the top five accounted for 53.25 percent of Oman’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Houston fell 2.33 percent to $159.52 million.
    Exports fell 4.09 percent to $100.19 million. Imports rose 0.81 percent to $59.33 million.
  • Trade with No. 2 Port of Newark fell 16.48 percent to $140.53 million.
    Exports rose 22.34 percent to $44.6 million. Imports fell 27.21 percent to $95.94 million.
  • Trade with No. 3 Port of Savannah, Ga. fell 16.44 percent to $79.08 million.
    Exports rose 20.96 percent to $49.67 million. Imports fell 45.1 percent to $29.42 million.
  • Trade with No. 4 Port of New Orleans rose 23.32 percent to $57.69 million.
    Exports fell 30.89 percent to $14.19 million. Imports rose 65.73 percent to $43.5 million.
  • Trade with No. 5 Port of Charleston rose 24.83 percent to $51.74 million.
    Exports fell 18.23 percent to $6.76 million. Imports rose 35.56 percent to $44.98 million.

Oman ranked No. 71 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 72.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Oman by value through May were the categories of Passenger vehicles; Low value shipments; Military weapons, excluding pistols; Taps, cocks and valves for pipes, tanks; and Pumps for dispensing liquids, respectively. They accounted for 41.77 percent of total exports to Oman.

The value of the top five categories of U.S. imports from Oman –– Plastic plates, sheet, film; Aluminum plates, sheets, strip more than 0.2mm thi; Nitrogenous fertilizers; Jewelry, parts; and Iron or steel nails, tacks, drawing pins –– accounted for 66.75 percent of all inbound shipments.

Looking more closely at U.S. exports to Oman:

  • Passenger vehicles fell 5.41 percent compared to last year to $156.38 million.
  • Low value shipments fell 12.3 percent compared to last year to $19.77 million.
  • Military weapons, excluding pistols rose 507.08 percent compared to last year to $16.54 million.
  • Taps, cocks and valves for pipes, tanks rose 101.17 percent compared to last year to $15.61 million.
  • Pumps for dispensing liquids rose 7.98 percent compared to last year to $15.19 million.

Looking more closely at U.S. imports from Oman:

  • Plastic plates, sheet, film fell 31.17 percent compared to last year to $96.37 million.
  • Aluminum plates, sheets, strip more than 0.2mm thi fell 45.8 percent compared to last year to $57.68 million.
  • Nitrogenous fertilizers rose 259.72 percent compared to last year to $44.04 million.
  • Jewelry, parts fell 70.05 percent compared to last year to $28.96 million.
  • Iron or steel nails, tacks, drawing pins fell 42.41 percent compared to last year to $28.19 million.

In the latest annual figures available, Oman recorded $3.1 billion in trade with the United States. Total U.S. exports to Oman were $ 1.94 billion and imports from Oman were $1.16 billion. The U.S. surplus with Oman was $778.17 million.