Oman

Герб
 Флаг
 

Coat of arms: the national emblem of Oman is an insignia consisting of a khanjar inside its sheath that is superimposed upon two crossed swords. 

Flag: consists of three stripes (white, green and red) with a red bar on the left that contains the national emblem of Oman (Dagger and two swords).

 
  • Anthem: «As-Salam as-Sultani» is the Sultanate of Oman's national anthem. The national anthem is dedicated to Sultan Qaboos.
  • Official languages: Arabic.
  • Geographical location: it is an Arab country on the southeastern coast of the Arabian Peninsula in Western Asia. The country shares land borders with the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest, and shares marine borders with Iran and Pakistan. 
  • Administrative divisions: administratively, the populated regions are divided into 59 districts, presided over by governors responsible for settling local disputes, collecting taxes, and maintaining peace.
  • Capital: Muscat.
  • Governance: politics of Oman takes place in a framework of an absolute monarchy whereby the Sultan of Oman is not only head of state, but also the head of government. Chief of state and government is the hereditary sultan who appoints a cabinet to assist him. Sultan also serves as the supreme commander of the armed forces, prime minister, and minister of defense, foreign affairs, and finance.
  • Population: 4.4 million.
  • Currency: Rial.
  • GDP: $59.7 billion.
  • Time zone: GMT +4.
  • Telephone code: +968.
  • Barcode: 512.

 

Trade and economic cooperation between Belarus and Oman

Oman's economic performance in 2017:

  • GDP — $59.7 billion;
  • Economic growth — 0.7%;
  • GDP per capita — $13.6 thousand;
  • Exports — $30.4 billion;
  • Imports — $25.8 billion;
  • Inflation — 3.2%;
  • Unemployment — 16.9%;
  • Oman's most valuable export products are oil and processed petroleum oils, liquefied gas, fish, metals and textile;
  • Oman's most valuable import products are engineering products, vehicles, industrial goods, food products, lubricants.

The country's economy is heavily dependent on its oil extracting industry, which brings more than 80% of budget revenues. The government makes efforts to diversify the economy, produce more industrial goods, privatize public enterprises, develop tourism, logistics, fishery and reexport trade.

The country imports goods from China, the UAE, South Korea, Saudi Arabia, Pakistan, and exports its goods to the UAE, Japan, the USA, China and India.

Oman is of considerable interest to Belarusian companies, because its economy is highly dependent on the imported consumer, food, industrial and other products.

Belarus had mainly exported potassic fertilizers to Oman from 2009 to 2015. Then it ceased these supplies because of market changes. Since 2016, it has supplied MAZ trucks and semi-tractors to Oman.

Dynamics of trade between Belarus and Oman (in million U.S. dollars)

Year

Turnover

Exports

Imports

Surplus

2012

12.63

10.25

2.38

7.86

2013

11.18

8.65

2.52

6.12

2014

8.62

4.36

4.26

0.1

2015

0.58

0.003

0.58

-0.58

2016

0.7

0.47

0.23

0.24

2017

3.96

3.5

0.46

3.04

In 2017, Belarusian exports to this country increased in 7.4 times to $3.5 million. The main export items were potassic fertilizers ($0.49 million), monofilament of which any cross-sectional dimension exceeds 1mm ($0.17 million) and tyres ($12.6 thousand).

Omani exports to Belarus amounted to $0.46 million. The main export items were iron or steel articles ($0.34 million) and second-hand clothing ($58 thousand).

There are 3 joint ventures in Belarus.

Belarus's Most Promising Export Products:

  • Trucks;
  • Mining dump trucks;
  • Road construction machinery;
  • Steelmaking equipment;
  • Machinery;
  • Motors;
  • Pumps;
  • Potassic fertilizers;
  • Organic chemicals and other chemicals;
  • Portland cement;
  • Meat and dairy products;
  • Milk in powder;
  • Honey;
  • Eggs.

 

This article has been prepared on the basis of information provided by the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs, and the Embassy of the Republic of Belarus in the Arab Republic of Egypt, and taken from public sources. The information presented herein is for informative purposes only. In this regard, it may be useful for the companies, which have been working in Oman for a long time, as well as for those, which are going to enter this market. Any questions, feedbacks and comments concerning this article are welcome. All of them will be fully considered and taken into account, if possible. If you have any information that may be interesting and useful for the visitors of this page, please write to us.

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Administration of Export.by

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