Oman-Saudi Arabia Bilateral Trade Analysis 2023
Complete trade statistics: $8.33B total volume •Oman deficit: $1.60B
Oman → Saudi Arabia
$3.36B
Exports (2023)
Saudi Arabia → Oman
$4.96B
Imports (2023)
Trade Balance
$1.60B
Deficit for Oman
Total Trade
$8.33B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Oman and Saudi Arabia. Green line shows exports from Oman, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Oman-Saudi Arabia commercial relationship and competitive positioning in global markets.
Oman → Saudi Arabia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Oman's export portfolio to Saudi Arabia demonstrates strong diversification across multiple sectors, with iron ores and concentrates: agglomerated (excluding roasted iron pyrites) representing a key competitive advantage in this bilateral market.
Saudi Arabia → Oman Imports
Import Dependency Profile
📦 Import Strategy Analysis
Oman's import pattern from Saudi Arabia reveals strategic sourcingin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Oman demonstrates competitive strength in exportingiron ores and concentrates: agglomerated (excluding roasted iron pyrites) to Saudi Arabia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $8.33B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Oman-Saudi Arabia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $8.33 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Oman maintains a deficit of $1.60 billion
- Export Focus: Oman's primary exports include iron ores and concentrates: agglomerated (excluding roasted iron pyrites), iron or non-alloy steel: semi-finished products of iron or non-alloy steel, containing by weight less than 0.25% of carbon, other than rectangular or square cross-section, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils
- Import Dependencies: Key imports from Saudi Arabia include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, ethers: acyclic, and their halogenated, sulphonated, nitrated or nitrosated derivatives, other than diethyl ether, alcohols: aromatic and derivatives, other than benzyl alcohol
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $8.33B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Oman leveraging its comparative advantages in iron ores and concentrates: agglomerated (excluding roasted iron pyrites).
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Oman's specialization in iron ores and concentrates: agglomerated (excluding roasted iron pyrites)complements Saudi Arabia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $8.33B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $8.33B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $8.33 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in iron ores and concentrates: agglomerated (excluding roasted iron pyrites) and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Oman's trade deficit of $1.60 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Oman and Saudi Arabia represents a total trade volume of $8.33 billion in 2023. This partnership demonstrates an unfavorable trade balance for Oman, with imports exceeding exportsby $1.60 billion.
Export Strengths
Oman's exports to Saudi Arabia total $3.36 billion, with competitive advantages in iron ores and concentrates: agglomerated (excluding roasted iron pyrites), representing $619.27M or18.4% of bilateral exports.
Import Dependencies
Imports from Saudi Arabia amount to $4.96 billion, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising60.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Oman's strategic sourcing from Saudi Arabia. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Oman and Saudi Arabia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023