Economic Growth: 7 Factories and 64% Re-exports
The article discusses the economic developments in Oman over the past week, with a focus on efforts to boost the industrial and commercial sectors. The report highlighted Oman's participation in the "World Food - Moscow 2026" exhibition aimed at promoting national products and increasing export opportunities in the Russian market. This participation was used to strengthen the presence of local products and facilitate communication with importers and distributors. The article also reviewed the 64% growth in re-export activity, which reached a value of 1.021 billion Omani Rials until May 2026, in addition to a 1.5% increase in non-oil exports. In the industrial sector, a localizing initiative for the production of electrical transformer components was announced through investments of 15 million Rials, including the establishment of seven new factories, with the goal of enhancing domestic manufacturing and reducing reliance on imports. Furthermore, data showed a 31.9% rise in the prices of crude oil and natural gas, and a 22.7% increase in real estate prices in the second quarter of 2026, along with a 28% increase in the value of residential land and a 17.2% rise in residential units. These developments reflect Oman’s efforts to promote economic growth, diversify sources of income, and achieve greater sustainability for its national economy.
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