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Oman

U.S.-Oman Trade Facts

Upon entry into force of the United States-Oman Free Trade Agreement (FTA) on January 1, 2009, Oman provided immediate duty-free access on virtually all industrial and consumer products in its tariff schedule duty-free access for U.S. agricultural products in 87 percent of agricultural tariff lines. Oman will phase out tariffs on the remaining products within 10 years. The agreement also provides for substantial market access across Oman's entire services regime, a secure, predictable legal framework for U.S. investors operating in Oman, an effective enforcement of labor and environmental laws, and enhanced protection of intellectual property.

U.S. goods and services trade with Oman totaled an estimated $3.8 billion in 2017 (latest data available). Exports were $2.5 billion; imports were $1.3 billion. The U.S. goods and services trade surplus with Oman was $1.2 billion in 2017.

Oman is currently our 68th largest goods trading partner with $3.7 billion in total (two way) goods trade during 2018. Goods exports totaled $2.4 billion; goods imports totaled $1.3 billion. The U.S. goods trade surplus with Oman was $1.1 billion in 2018.

Trade in services with Oman (exports and imports) totaled an estimated $786 million in 2017 (latest data available). Services exports were $528 million; services imports were $258 million. The U.S. services trade surplus with Oman was $270 million in 2017 (latest data available).

According to the Department of Commerce, U.S. exports of goods and services to Oman supported an estimated 14 thousand jobs in 2015 (latest data available) (12 thousand supported by goods exports and 3 thousand supported by services exports).

Exports

  • Oman was the United States' 60th largest goods export market in 2018.
     
  • U.S. goods exports to Oman in 2018 were $2.4 billion, up 22.0% ($436 million) from 2017 and up 75.2% from 2008. U.S. exports to Oman are up 75.2% from 2008 (pre-FTA).
     
  • The top export categories (2-digit HS) in 2018 were: aircraft ($906 million), vehicles ($338 million), machinery ($309 million), electrical machinery ($189 million), and arms and ammunition ($112 million).
     
  • U.S. total exports of agricultural products to Oman totaled $69 million in 2018. Leading domestic export categories include: vegetable oils (ex. soybean) ($12 million), poultry meat & prods. (ex. eggs) ($10 million), condiments & sauces ($6 million), prepared food ($5 million), and dairy products ($4 million).
     
  • U.S. exports of services to Oman were an estimated $528 million in 2017 (latest data available), 17.3% ($78 million) more than 2016, and 230% greater than 2007 levels. Leading services exports from the U.S. to Oman were in the travel, maintenance and repair services, and financial services sectors.

Imports

  • Oman was the United States' 75th largest supplier of goods imports in 2018.
     
  • U.S. goods imports from Oman totaled $1.3 billion in 2018, up 20.0% ($213 million) from 2017, and up 50.4% from 2008. U.S. imports from Oman are up 50.4% from 2008 (pre-FTA).
     
  • The top import categories (2-digit HS) in 2018 were: plastics ($341 million), aluminum ($279 million), precious metal and stone (jewelry of gold) ($214 million), iron and steel products ($126 million), and special other (repairs) ($66 million).
     
  • U.S. total imports of agricultural products from Oman totaled $17 million in 2018. The leading category is: essential oils ($9 million).
     
  • U.S. imports of services from Oman were an estimated $258 million in 2017 (latest data available), 15.4% ($47 million) less than 2016, but 42.5% less than 2007 levels.  Leading services imports from Oman to the U.S. were in the travel, financial services, and transport sectors.

Trade Balance

  • The U.S. goods trade surplus with Oman was $1.1 billion in 2018, a 24.3% increase ($223 million) over 2017.
     
  • The United States has a services trade surplus of an estimated $270 million with Oman in 2017 (latest data available), up 86.2% from 2016.

Investment

  • U.S. foreign direct investment (FDI) in Oman (stock) was $1.8 billion in 2017, a 16.2% increase from 2016. There is no information on the distribution of U.S. FDI in Oman.
     
  • No data on Oman's FDI in the U.S. are available. There is no information on the distribution of Oman FDI in the U.S.
     
  • Sales of services in Oman by majority U.S.-owned affiliates were $468 million in 2016 (latest data available), while sales of services in the United States by majority Oman-owned firms were $0 million.