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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 (latest data available). 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 72nd largest goods trading partner with $3.1 billion in total (two way) goods trade during 2017. Goods exports totaled $2.0 billion; goods imports totaled $1.1 billion. The U.S. goods trade surplus with Oman was $918 million in 2017.
Trade in services with Oman totaled an estimated $784 million in 2016 (latest data available). Services exports totaled $469 million; services imports totaled $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).
- Oman was the United States' 60th largest goods export market in 2017.
- U.S. goods exports to Oman in 2017 were $2.0 billion, up 10.0% ($181 million) from 2016 and up 87.4% from 2007. U.S. exports to Oman are up 43.6% from 2008 (pre-FTA).
- The top export categories (2-digit HS) in 2017 were: aircraft ($712 million), vehicles ($301 million), machinery ($253 million), electrical machinery ($150 million), and mineral fuels ($101 million).
- U.S. total exports of agricultural products to Oman totaled $60 million in 2017. Leading domestic export categories include: poultry meat & prods. (ex. eggs) ($13 million), vegetable oils (ex. soybean) ($9 million), condiments & sauces ($5 million), prepared food ($4 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' 74th largest supplier of goods imports in 2017.
- U.S. goods imports from Oman totaled $1.1 billion in 2017, down 5.2% ($58 million) from 2016, but up 2.5% from 2007. U.S. imports from Oman are up 25.3% from 2008 (pre-FTA).
- The top import categories (2-digit HS) in 2017 were: plastics ($253 million), mineral fuels ($243 million), precious metal and stone (jewelry of gold) ($169 million), aluminum ($93 million), and iron and steel products ($81 million).
- U.S. total imports of agricultural products from Oman totaled $10 million in 2017. Leading categories include: essential oils ($3 million), snack foods ($2 million), other vegetable oils ($132 thousand), rubber & allied products ($69 thousand), and live animals ($4 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 $918 million in 2017, a 35.2% increase ($239 million) over 2016.
- The United States has a services trade surplus of an estimated $154 million with Oman in 2016 (latest data available), up 45.3% from 2015.
- 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 $446 million in 2015 (latest data available), while sales of services in the United States by majority Oman-owned firms were $0 million.