MUSCAT: The Gulf Cooperation Council (GCC) bloc was the single largest destination for Omani non-oil exports last year, accounting for 45.8 percent of the total (inclusive of re-exports) - marginally lower from 46 percent the previous year, the Central Bank of Oman (CBO) said in its 2010 Annual Report. On the other hand, recorded imports from the GCC as a percentage of total imports climbed from 29.8 percent in 2009 to 34 percent in 2010. Both trends underline the dominant position of the GCC bloc in Omani non-oil exports and imports. In value terms, the combined value of Omani non-oil exports (inclusive of re-exports) the GCC states jumped 18.1 percent to RO 1.999 billion in 2010 from RO 1.693 billion in 2009. Total recorded imports from the GCC states soared 27.3 percent to RO 2.613 billion in 2010 from RO 2.053 billion a year earlier. As in past years, the United Arab Emirates (UAE) was the Sultanate's main trading partner within the GCC bloc with a robust 81.3 per cent share of total Omani non-oil exports. On the import front, the UAE was the source of origin for 82.5 percent of total Omani imports from the GCC. The lion's share of Omani re-exports in 2010 was destined for neighbors UAE and Iran, receiving 64.3 percent of total re-exports. Re-exports to the UAE climbed 27.8 percent to RO 1.053 billion in 2010. However, re-export volumes to Iran declined 24.5 percent to RO 182 million last year. Maintaining its position as the third most important market for Omani re-exports was China with a 4.8 percent share valued at RO 92 million. The CBO statistics also report a 10.8 percent rise in Omani imports to RO 7.603 billion last year from RO 6.864 billion a year earlier. Automobiles, machinery, transport equipment, foodstuff and livestock accounted for the bulk of imports. Outside of the GCC, India was the biggest market for non-oil exports of Omani origin with a 13.2 percent share of the total, valued at RO 323.4 million. Omani non-oil exports to India have been rising from year to year, jumping from RO 247.4 million in 2008 to RO 264.3 million in 2009. Ranked third after the UAE and India was Saudi Arabia as a leading trading partner of the Sultanate in non-oil trade. Non-oil exports of Omani origin to Saudi Arabia soared to RO 182.6 million in 2010, accounting for 7.5 percent of the total. The CBO statistics also underline Oman's growing importance in regional trade as a re-exporter. Reflecting the recovery in global markets, total re-exports from Oman rose 4.7 percent to RO 1.921 billion last year from RO 1.834 billion a year earlier. Automobiles and machinery accounted for a dominant 84.9 percent share of total re-exports last year. There were also increases reported in re-exports of foodstuff, livestock, tobacco and beverages.
