Oman’s non-oil exports surged by 31.4 per cent to OR2.36 billion ($6.142 billion) for the first nine months of 2017, from OR1.79 billion ($4.67 billion) for the same January-September period of the previous year, said a report.

A major recovery in energy prices indirectly helped the country to strengthen its non-oil export revenue as well. Since prices of several petrochemical products are positively correlated to global prices of energy, Oman could gain immensely with a rise in oil prices, added the Times of Oman report.

A considerable growth in exports of mineral products, chemical products, plastics and rubber and electric machinery aided the recovery in non-oil exports, revealed the latest monthly statistics released by the National Centre for Statistics and Information (NCSI).

Among the non-oil product categories, exports of mineral products shot up year-on-year by 51.5 per cent to OR640 million ($1.66 billion), while exports of chemical products was up by 41.9 per cent to OR610.10 million ($1.58 billion) during January-September period of 2017, over the same period of last year.

Further, export revenue from rubber and plastics and basic metals jumped year-on-year by 43.5 per cent and 35.8 per cent at OR149.4 million ($388.09 million) and OR472.9 million ($1.22 billion), respectively.

However, exports of live animals and its products and electrical machinery witnessed a fall during January-September period of last year.

As part of the country’s diversification programme, Oman has been taking several major steps to strengthen its export base of non-oil products.

Apart from petrochemicals, the sultanate’s focused non-oil export products include processed aluminium, fertilisers, fish, minerals, metals and metal products, dates, chemicals, plastic products, detergents, mattresses and pharmaceuticals, added the report.