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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 $4.4 billion in 2018. Exports were $2.9 billion; imports were $1.5 billion. The U.S. goods and services trade surplus with Oman was $1.5 billion in 2018.

Oman is currently our 69th 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 $717 million in 2018. Services exports were $532 million; services imports were $185 million. The U.S. services trade surplus with Oman was $347 million in 2018.

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 21.7% ($431 million) from 2017 and up 74.8% from 2008. U.S. exports to Oman are up 74.8% 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 ($190 million), and arms and ammunition ($107 million).

  • U.S. total exports of agricultural products to Oman totaled $71 million in 2018. Leading domestic export categories include: vegetable oils (ex. soybean) ($12 million), poultry meat & prods. (ex. eggs) ($10 million), prepared food ($7 million), condiments & sauces ($6 million), and dairy products ($4 million).

  • U.S. exports of services to Oman were an estimated $532 million in 2018, 0.4% ($2 million) less than 2017, but 228% greater than 2008 levels.  Leading services exports from the U.S. to Oman were in the travel, technical and other services, and financial services sectors.

Imports

  • Oman was the United States' 74th largest supplier of goods imports in 2018.

  • U.S. goods imports from Oman totaled $1.3 billion in 2018, up 19.6% ($209 million) from 2017, and up 49.7% from 2008. U.S. imports from Oman are up 49.7% from 2008 (pre-FTA).

  • The top import categories (2-digit HS) in 2018 were: plastics ($341 million), aluminum ($276 million), precious metal and stone (jewelry of gold) ($213 million), iron and steel products ($126 million), and special other (returns) ($66 million).

  • U.S. total imports of agricultural products from Oman totaled $17 million in 2018. The leading category is: essential oils ($10 million).

  • U.S. imports of services from Oman were an estimated $185 million in 2018, 27.7% ($71 million) less than 2017, but 60.3% less than 2008 levels.  Leading services imports from Oman to the U.S. were in the travel, financial services, and technical and other services sectors.

Trade Balance

  • The U.S. goods trade surplus with Oman was $1.1 billion in 2018, a 24.2% increase ($222 million) over 2017.

  • The United States has a services trade surplus of an estimated $347 million with Oman in 2018, up 24.8% from 2017.

Investment

  • U.S. foreign direct investment (FDI) in Oman (stock) was $1.6 billion in 2018, a 11.7% decrease from 2017. There is no information on the distribution of U.S. FDI in Oman.

  • Oman's FDI in the United States (stock) was $15 million in 2018. 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 2017 (latest data available). There were no sales of services in the United States by majority Oman-owned firms in 2017.