Latest news with #NCSI
Observer
3 days ago
- Science
- Observer
Fish arrivals slide as temperatures rise
Arrival of fish at the central fish market in Muttrah has been affected due to non-availability of sufficient volumes as temperatures rise compared to last week. While mackerel and prawns were available, tuna and other costlier varieties were scarce in supply while many bigger varieties migrated from the area closer to the shore to deeper areas due to rise in temperatures. 'For the past few days, the availability of different varieties of fish has been reduced due to high temperatures and the fish has migrated to deeper areas of the sea. The fix is that the takers of bigger and costlier fish are limited and many who look for smaller ones had to return empty-handed,' said Salem Mubarak al Rugaishi, a long-time fish buyer at Muttrah Market. 'The arrival of fish at the market has significantly decreased since temperatures began to rise substantially. We are now only catching enough fish for our livelihood, staying within one nautical mile of the shore,' said Ahmed al Hasani, a fisherman. A new study report says globally, fish around the world are moving to colder waters as a result of global warming and that the majority of fish populations are moving nearer the north and south poles, or to deeper waters than they usually would live in, in order to stay cool. The study conducted by researchers at the University of Glasgow says that they're doing this because sea temperatures are rising which affects the fact that whether fish can reproduce, how much they grow and even how well they can digest their food. 'In my opinion, there are more than 2,000 people depending on fish catching or selling and other fish-related activities in and around Muttrah Market; and lack of fish is a real challenge for us albeit it is for a short period,' Al Hasani adds. However, a report published by the National Centre for Statistics and Information (NCSI) says that Oman's commercial fish farming has been witnessing a significant growth in production over the recent years, reflecting both a rise in financial value and an expansion in the variety of species being farmed. The report based on the Ministry of Agriculture, Fisheries and Water Resources figures says that the production of farmed fish has risen to 5,117 tonnes in 2024, with a total production value of RO 15.1 million. This represents a 7 per cent increase in volume and a notably 50 per cent rise in financial value compared to 2023, which saw production of 4,767 tonnes valued at RO 10.99 million. The report further says that the Oman fisheries and aquaculture market size is estimated at $676.26 million in 2025; and is expected to reach $913.56 million by 2030, at a CAGR of 6.2 per cent during 2025-2030. The Sultanate of Oman has identified aquaculture as a key pillar of diversifying its national economy and it is the most important and oldest in Oman.
Zawya
5 days ago
- Business
- Zawya
Oman and Iran: Transforming diplomatic ties into economic growth
Oman and Iran, bound by deep historical and cultural ties, are steadily strengthening their economic relationship. This enduring connection, built on a foundation of stable diplomacy, is paving the way for increased trade, investment, and business collaboration, fostering prosperity for both countries and the wider region. Oman's pragmatic and balanced foreign policy has consistently enabled it to maintain stable relations with Iran, even amidst broader regional tensions, positioning the Sultanate of Oman as a crucial mediator and a significant economic gateway. This consistent diplomatic stability provides a predictable and reliable framework for economic engagement, offering a distinct advantage in a complex region. Furthermore, the joint agreement between Iran and Oman to provide security for the strategically vital Strait of Hormuz, a critical global chokepoint, translates into a potentially more secure and predictable maritime route, vital for logistics and supply chains, effectively reducing perceived transit risks for businesses. Recent trade figures from the National Centre for Statistics and Information (NCSI) in Oman provide a snapshot of the bilateral exchange, reflecting a notable trade deficit on Oman's side. Oman's exports to Iran remain relatively modest, amounting to approximately RO 1.04 million. Key export commodities include fish-based flours and pellets, primarily used for non-human consumption (RO 665,633); refined palm oil (RO 112,789); and aerated and flavoured beverages such as cola and orangeade (combined RO 86,967). Other miscellaneous products accounted for RO 96,343. In contrast, Oman's imports from Iran are significantly higher, totalling over RO 90 million. The major import category was live sheep, accounting for RO 78.4 million and dominating the trade balance. Other significant imports included pharmaceuticals containing hormones/steroids (RO 901,618), construction materials like cement (RO 699,442) and iron/steel doors and windows (RO 687,333), and fresh apples (RO 518,453). Other imported goods totalled RO 9.9 million. With total imports valued at approximately RO 90.13 million and exports at RO 1.04 million, Oman faces a significant trade deficit of around RO 89 million in its trade with Iran. This highlights a substantial imbalance, driven largely by livestock and essential materials sourced from Iran. However, it is important to consider these figures within the broader context of trade potential. The Iran-Oman Joint Chamber of Commerce reported a substantial increase in trade volume from $221 million in 2013 to nearly $2 billion by 2022. This suggests that the current trade volume is far below its potential, highlighting opportunities for significant growth. Both Oman and Iran are actively seeking to expand investment and business collaborations. For Omani companies considering investment in Iran, the Iranian Ambassador to Oman has encouraged starting with smaller-scale projects to establish a foothold in the market. Key opportunities for Omani companies in Iran are highlighted in non-oil sectors such as tourism, mining, and agriculture. This specific focus on these sectors suggests a deliberate strategy, as this region might offer particular advantages, such as proximity, resource availability, or less sensitivity to broader geopolitical factors. Conversely, Oman's economic ecosystem is described as favourable and "open and welcoming" for Iranian private sector companies. Sectors well-suited for Iranian firms in Oman, owing to Iran's competitive advantages, include oil and gas, engineering services, food industries, and agriculture. Oman's consistent portrayal of its market as open for Iranian firms, combined with Oman's broader efforts to attract foreign investment, suggests a calculated risk-taking approach designed to maintain its mediatory role and achieve economic diversification goals. This openness can lead to new partnerships, technology transfers, and job creation within Oman, particularly in the identified sectors. Joint investment discussions between Oman and Iran are gaining momentum, with an agreement to support such ventures reached at the 21st Joint Economic Committee meeting. Both nations are looking to exchange lists of active companies in the energy and mining sectors and formalise partnerships through memorandums of understanding. Beyond traditional oil and gas, there's a clear move towards diversifying joint ventures into areas like industrial parks, power plants, and maritime transport, aligning with Oman's Vision 2040 for economic diversification. This also includes leveraging Iran as a transit hub for Eurasian Economic Union exports to Oman and increasing air and shipping links. The Iran-Oman Joint Chamber of Commerce plays a pivotal role in facilitating cross-border trade and investment, particularly for small and medium enterprises (SMEs). Established in 2013, the Chamber has significantly boosted trade volume, from $221 million in 2013 to nearly $2 billion by 2022, and has expanded its membership. It offers a comprehensive suite of services, including legal and commercial guidance, investment support, and organising business-to-business meetings, acting as a crucial institutional bridge for SMEs navigating the complexities of cross-border trade. Looking ahead, the future of Oman-Iran economic relations is positive, underpinned by a strong political will and a sustained "neighbourhood policy". The anticipated finalisation of preferential trade agreements and tariff elimination is expected to significantly boost bilateral trade. Continued efforts to facilitate financial transactions and reduce reliance on the US dollar are also anticipated. Furthermore, Oman's strategic position as a transit hub for Iranian goods to global markets, leveraging its free trade agreements, remains a key area of development. To fully capitalise on opportunities and foster deeper collaboration, businesses should strategically leverage Oman's unique diplomatic stability and its role as a mediator, which significantly reduces perceived political risk and offers a competitive advantage in the region. Prioritising growth sectors like agriculture, food industries, tourism, and specific mining ventures can yield immediate benefits. For investments, a phased market entry, starting with smaller-scale projects and building local partnerships, is advisable to test viability and build trust. Active engagement with the Iran-Oman Joint Chamber of Commerce is crucial for accessing legal, commercial, and financial guidance; facilitating business-to-business connections; and gaining valuable market insights. Furthermore, exploring the re-export and transit hub potential by leveraging Oman's strategic ports like Suhar and Duqm and its network of free trade agreements can facilitate the movement of goods to and from Iran. For Omani businesses, strong adherence to In-Country Value (ICV) principles can enhance domestic competitiveness and make them attractive partners for foreign investors, including Iranian firms, seeking to operate in Oman, as this policy encourages local sourcing, Omanisation, and the development of national suppliers, contributing to job creation and manufacturing within Oman. The Oman-Iran economic corridor, driven by strong diplomatic ties and geographical proximity, holds significant long-term potential. By focusing on strategic partnerships, diversifying into promising sectors, and leveraging existing facilitative frameworks, both nations can build a more robust and integrated economic future. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
5 days ago
- Business
- Observer
Oman and Iran: Transforming diplomatic ties into economic growth
Oman and Iran, bound by deep historical and cultural ties, are steadily strengthening their economic relationship. This enduring connection, built on a foundation of stable diplomacy, is paving the way for increased trade, investment, and business collaboration, fostering prosperity for both countries and the wider region. Oman's pragmatic and balanced foreign policy has consistently enabled it to maintain stable relations with Iran, even amidst broader regional tensions, positioning the Sultanate of Oman as a crucial mediator and a significant economic gateway. This consistent diplomatic stability provides a predictable and reliable framework for economic engagement, offering a distinct advantage in a complex region. Furthermore, the joint agreement between Iran and Oman to provide security for the strategically vital Strait of Hormuz, a critical global chokepoint, translates into a potentially more secure and predictable maritime route, vital for logistics and supply chains, effectively reducing perceived transit risks for businesses. Recent trade figures from the National Centre for Statistics and Information (NCSI) in Oman provide a snapshot of the bilateral exchange, reflecting a notable trade deficit on Oman's side. Oman's exports to Iran remain relatively modest, amounting to approximately RO 1.04 million. Key export commodities include fish-based flours and pellets, primarily used for non-human consumption (RO 665,633); refined palm oil (RO 112,789); and aerated and flavoured beverages such as cola and orangeade (combined RO 86,967). Other miscellaneous products accounted for RO 96,343. In contrast, Oman's imports from Iran are significantly higher, totalling over RO 90 million. The major import category was live sheep, accounting for RO 78.4 million and dominating the trade balance. Other significant imports included pharmaceuticals containing hormones/steroids (RO 901,618), construction materials like cement (RO 699,442) and iron/steel doors and windows (RO 687,333), and fresh apples (RO 518,453). Other imported goods totalled RO 9.9 million. With total imports valued at approximately RO 90.13 million and exports at RO 1.04 million, Oman faces a significant trade deficit of around RO 89 million in its trade with Iran. This highlights a substantial imbalance, driven largely by livestock and essential materials sourced from Iran. However, it is important to consider these figures within the broader context of trade potential. The Iran-Oman Joint Chamber of Commerce reported a substantial increase in trade volume from $221 million in 2013 to nearly $2 billion by 2022. This suggests that the current trade volume is far below its potential, highlighting opportunities for significant growth. Both Oman and Iran are actively seeking to expand investment and business collaborations. For Omani companies considering investment in Iran, the Iranian Ambassador to Oman has encouraged starting with smaller-scale projects to establish a foothold in the market. Key opportunities for Omani companies in Iran are highlighted in non-oil sectors such as tourism, mining, and agriculture. This specific focus on these sectors suggests a deliberate strategy, as this region might offer particular advantages, such as proximity, resource availability, or less sensitivity to broader geopolitical factors. Conversely, Oman's economic ecosystem is described as favourable and "open and welcoming" for Iranian private sector companies. Sectors well-suited for Iranian firms in Oman, owing to Iran's competitive advantages, include oil and gas, engineering services, food industries, and agriculture. Oman's consistent portrayal of its market as open for Iranian firms, combined with Oman's broader efforts to attract foreign investment, suggests a calculated risk-taking approach designed to maintain its mediatory role and achieve economic diversification goals. This openness can lead to new partnerships, technology transfers, and job creation within Oman, particularly in the identified sectors. Joint investment discussions between Oman and Iran are gaining momentum, with an agreement to support such ventures reached at the 21st Joint Economic Committee meeting. Both nations are looking to exchange lists of active companies in the energy and mining sectors and formalise partnerships through memorandums of understanding. Beyond traditional oil and gas, there's a clear move towards diversifying joint ventures into areas like industrial parks, power plants, and maritime transport, aligning with Oman's Vision 2040 for economic diversification. This also includes leveraging Iran as a transit hub for Eurasian Economic Union exports to Oman and increasing air and shipping links. The Iran-Oman Joint Chamber of Commerce plays a pivotal role in facilitating cross-border trade and investment, particularly for small and medium enterprises (SMEs). Established in 2013, the Chamber has significantly boosted trade volume, from $221 million in 2013 to nearly $2 billion by 2022, and has expanded its membership. It offers a comprehensive suite of services, including legal and commercial guidance, investment support, and organising business-to-business meetings, acting as a crucial institutional bridge for SMEs navigating the complexities of cross-border trade. Looking ahead, the future of Oman-Iran economic relations is positive, underpinned by a strong political will and a sustained "neighbourhood policy". The anticipated finalisation of preferential trade agreements and tariff elimination is expected to significantly boost bilateral trade. Continued efforts to facilitate financial transactions and reduce reliance on the US dollar are also anticipated. Furthermore, Oman's strategic position as a transit hub for Iranian goods to global markets, leveraging its free trade agreements, remains a key area of development. To fully capitalise on opportunities and foster deeper collaboration, businesses should strategically leverage Oman's unique diplomatic stability and its role as a mediator, which significantly reduces perceived political risk and offers a competitive advantage in the region. Prioritising growth sectors like agriculture, food industries, tourism, and specific mining ventures can yield immediate benefits. For investments, a phased market entry, starting with smaller-scale projects and building local partnerships, is advisable to test viability and build trust. Active engagement with the Iran-Oman Joint Chamber of Commerce is crucial for accessing legal, commercial, and financial guidance; facilitating business-to-business connections; and gaining valuable market insights. Furthermore, exploring the re-export and transit hub potential by leveraging Oman's strategic ports like Suhar and Duqm and its network of free trade agreements can facilitate the movement of goods to and from Iran. For Omani businesses, strong adherence to In-Country Value (ICV) principles can enhance domestic competitiveness and make them attractive partners for foreign investors, including Iranian firms, seeking to operate in Oman, as this policy encourages local sourcing, Omanisation, and the development of national suppliers, contributing to job creation and manufacturing within Oman. The Oman-Iran economic corridor, driven by strong diplomatic ties and geographical proximity, holds significant long-term potential. By focusing on strategic partnerships, diversifying into promising sectors, and leveraging existing facilitative frameworks, both nations can build a more robust and integrated economic future. Dr Yousuf Hamed al Balushi The writer is founder and CEO - Smart Investment Gateway, economists, board adviser & business transformation mentor.
Observer
24-05-2025
- Business
- Observer
Oman's inflation rises 0.9% in April
MUSCAT: The Sultanate of Oman recorded a 0.9 per cent increase in its general inflation rate in April 2025 compared to the same month in 2024, based on the Consumer Price Index (CPI) with 2018 as the base year, according to the National Centre for Statistics and Information (NCSI). Leading the price increases was the personal goods and miscellaneous services category, which jumped by 7.0 per cent. This was followed by health services, up 3.2 per cent, and transportation, which rose 3.1 per cent. Other sectors also saw modest increases: restaurants and hotels (1.5%), clothing and footwear (0.6%), culture and entertainment (0.3%), and education (0.1%). Meanwhile, some categories experienced declines. Food and non-alcoholic beverages fell by 0.3 per cent, while furniture, household equipment, and maintenance dropped by 0.1 per cent. Prices remained stable in housing, utilities, communication, and tobacco. Within the food and beverages group, the largest price hikes were noted in food products not classified elsewhere (3.5%), followed by milk, cheese, and eggs (3.1%), sugar and sweets, and oils and fats (1.1%). Fruits edged up 0.7 per cent, and meat rose slightly by 0.1 per cent. In contrast, vegetables saw the sharpest decline at 6.1 per cent, followed by fish and seafood (3.0%), bread and cereals (0.7%), and non-alcoholic beverages (0.1%). Regionally, Ad Dakhiliyah Governorate recorded the highest inflation rate among Oman's governorates, up by 1.8 per cent year-on-year. It was followed by Musandam (1.5%), Ad Dhahirah and South Sharqiyah (1.3% each). Muscat, Al Buraimi, and Al Wusta each registered a 0.9 per cent rise. Dhofar saw a 0.6 per cent increase, North Al Batinah 0.5 per cent, and North Al Sharqiyah 0.4 per cent. Notably, South Al Batinah was the only governorate to register a decline in inflation, down 0.1 per cent. — ONA
Muscat Daily
24-05-2025
- General
- Muscat Daily
Oman launches nationwide survey on radio, TV content
By OUR CORRESPONDENT Muscat – The National Centre for Statistics and Information (NCSI) has launched a nationwide survey to assess public satisfaction with the content aired on Oman's radio and television channels. The survey, which began on May 18 and is to run till June 18, is being conducted via phone calls from the number 24070515, between 8am and 2pm. The initiative aims to evaluate the quality and diversity of programming, gauge audience preferences, and assess engagement levels with existing content. It also seeks to determine how well the programmes reflect public expectations. According to NCSI, the survey is part of efforts to strengthen communication between the Ministry of Information and the public by involving citizens directly in the development of media content. The poll targets Omani citizens aged 18 and above, across all governorates, and includes both men and women.
