The United States and Oman have a strong trade relationship that has grown significantly since the implementation of their Free Trade Agreement in 2009. This article will explore the top 10 products traded between these two nations, highlighting key statistics and trends.
1. Cars
Cars are the most significant export from the United States to Oman. In 2023, the US exported $515 million worth of cars to Oman, making it the top traded product between the two countries. This represents a substantial increase from previous years, showing the growing demand for American vehicles in the Omani market.
Key Statistics:
- 2023 export value: $515 million
- Growth rate: 74.9% increase from 2022 to 2023
- Market share: Largest single product export from US to Oman
2. Raw Plastic Sheeting
Raw plastic sheeting is Oman’s largest export to the United States. In 2023, Oman exported $356 million worth of this product to the US. This highlights Oman’s growing petrochemical industry and its importance in the trade relationship between the two countries.
Key Statistics:
- 2023 export value: $356 million
- Product type: Important raw material for various industries
- Trend: Consistent top export from Oman to US
3. Refined Petroleum
Refined petroleum products are another significant export from Oman to the United States. In 2023, these exports were valued at $341 million. This trade reflects Oman’s strong oil and gas sector and its role in supplying energy products to the US market.
Key Statistics:
- 2023 export value: $341 million
- Product importance: Key energy resource
- Market position: Second largest export from Oman to US
4. Petroleum Coke
Petroleum coke is an important export from the United States to Oman. In 2023, the US exported $114 million worth of this product to Oman. Petroleum coke is used in various industrial processes, showing the diverse nature of trade between the two countries.
Key Statistics:
- 2023 export value: $114 million
- Growth rate: 29% increase from 2017 to 2022
- Usage: Important for industrial processes in Oman
5. Ethylene Polymers
Ethylene polymers are another significant export from the United States to Oman. In 2023, these exports were valued at $86 million. This product is used in various plastic manufacturing processes, highlighting the industrial trade between the two nations.
Key Statistics:
- 2023 export value: $86 million
- Product type: Raw material for plastic industry
- Trend: Growing export category from US to Oman
6. Jewellery
Jewellery is a notable export from Oman to the United States. In 2023, Oman exported $224 million worth of jewellery to the US. This trade showcases Oman’s craftsmanship and the demand for Omani jewellery in the American market.
Key Statistics:
- 2023 export value: $224 million
- Product type: Luxury goods
- Market position: Third largest export from Oman to US
7. Aircraft and Spacecraft
The United States exports significant amounts of aircraft and spacecraft to Oman. In 2024, these exports were valued at $220.52 million. This trade reflects the high-tech nature of some US exports to Oman and the growing aviation sector in the Gulf region.
Key Statistics:
- 2024 export value: $220.52 million
- Product type: High-tech transportation equipment
- Importance: Supports Oman’s growing aviation industry
8. Machinery and Nuclear Reactors
Machinery, including nuclear reactors and boilers, is another important export category from the United States to Oman. In 2024, these exports were valued at $204.03 million. This trade highlights the industrial and technological cooperation between the two countries.
Key Statistics:
- 2024 export value: $204.03 million
- Product range: Diverse industrial equipment
- Significance: Supports Oman’s industrial development
9. Precious Metals and Stones
The trade in precious metals and stones, including gold, is significant between the US and Oman. In 2024, US exports in this category to Oman were valued at $160.26 million. This trade reflects the luxury goods market and investment opportunities in both countries.
Key Statistics:
- 2024 export value: $160.26 million
- Product type: Valuable commodities and luxury items
- Market trend: Growing export category from US to Oman
10. Plastics
Plastics form an important part of the trade between the US and Oman, with significant flows in both directions. In 2024, US exports of plastics to Oman were valued at $90.28 million. This two-way trade in plastics showcases the interconnected nature of the two countries’ petrochemical industries.
Key Statistics:
- 2024 US export value: $90.28 million
- 2023 Oman export value to US: $396 million (top export category)
- Significance: Important for both countries’ manufacturing sectors