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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 $3.7 billion in 2016. Exports were $2.3 billion; imports were $1.4 billion. The U.S. goods and services trade surplus with Oman was $833 million in 2016.
Oman is currently our 69th largest goods trading partner with $2.9 billion in total (two way) goods trade during 2016. Goods exports totaled $1.8 billion; goods imports totaled $1.1 billion. The U.S. goods trade surplus with Oman was $679 million in 2016.
Trade in services with Oman (exports and imports) totaled an estimated $784 million in 2016. Services exports were $469 million; services imports were $315 million. The U.S. services trade surplus with Oman was $154 million in 2016.
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).
data available) (12 thousand supported by goods exports and 3 thousand supported by services exports).
- Oman was the United States' 62nd largest goods export market in 2016.
- U.S. goods exports to Oman in 2016 were $1.8 billion, down 23.4% ($551 million) from 2015 but up 117.7% from 2006. U.S. exports to Oman are up 30.5% from 2008 (pre-FTA).
- The top export categories (2-digit HS) in 2016 were: vehicles ($466 million), aircraft ($358 million), machinery ($267 million), electrical machinery ($110 million), and arms and ammunition ($84 million).
- U.S. total exports of agricultural products to Oman totaled $65 million in 2016. Leading domestic export categories include: corn ($15 million), poultry meat & prods. (ex. eggs) ($11 million), condiments & sauces ($7 million), vegetable oils (ex. soybean) ($6 million), and processed vegetables ($4 million).
- U.S. exports of services to Oman were an estimated $469 million in 2016, 7.8% ($34 million) more than 2015. Leading services exports from the U.S. to Oman were in the travel, maintenance and repair services, and financial services sectors.
- Oman was the United States' 73rd largest supplier of goods imports in 2016.
- U.S. goods imports from Oman totaled $1.1 billion in 2016, up 24.1% ($218 million) from 2015, and up 23.9% from 2006. U.S. imports from Oman are up 32.1% from 2008 (pre-FTA).
- The top import categories (2-digit HS) in 2016 were: mineral fuels ($472 million), plastics ($218 million), precious metal and stone (jewelry of gold) ($172 million), fertilizers ($99 million), and iron and steel products ($61 million).
- U.S. total imports of agricultural products from Oman totaled $5 million in 2016. Leading categories include: snack foods ($2 million), essential oils ($1 million), rubber & allied products ($515 thousand), other vegetable oils ($82 thousand), and fruit & vegetable juices ($7 thousand).
- U.S. imports of services to Oman were an estimated $315 million in 2016, 2.8% ($9 million) less than 2015. Leading services imports from Oman to the U.S. were in the travel, financial services, and transport sectors.
- The U.S. goods trade surplus with Oman was $679 million in 2016, a 53.1% decrease ($770 million) over 2015.
- The United States has a services trade surplus of an estimated $154 million with Oman in 2016, up 45.3% from 2015.
- U.S. foreign direct investment (FDI) in Oman (stock) was $1.2 billion in 2015 (latest data available).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 OmanFDI in the U.S.
- Sales of services in Oman by majority U.S.-owned affiliates were $446 million in 2015 (latest data available), while sales of services in the United States by majority Oman-owned firms were $0 million.