Latest news with #industrialexports
Zawya
2 days ago
- Business
- Zawya
Oman's industrial exports rise 8.6% to $2.5bln in Q1
Muscat – Oman's industrial sector exports recorded a notable increase of 8.6% in the first quarter of 2025, reaching RO1.618bn, compared to RO1.49bn during the same period in 2024, according to data released by the National Centre for Statistics and Information (NCSI). Industrial exports accounted for 28% of Oman's total exports, indicating the growing contribution of the industrial sector to the national economy and its role in promoting economic diversification. This growth is attributed to strong performances across several industrial segments, particularly the electrical machinery and equipment manufacturing sector, which posted an exceptional 141% increase in export value. Exports from this sector rose to RO128mn, compared to RO53mn in Q1 2024, the NCSI data showed. This was followed by metal products, with exports increasing by 14.1% to RO462mn, supported by growing international demand for high-quality Omani goods. In a statement to the Oman News Agency, Eng Khalid bin Salim al Qassabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, said that the positive results reflect the strength and diversity of Oman's industrial base. He noted that the ministry continues to implement integrated industrial policies aimed at enhancing the competitiveness of Omani products in regional and international markets, while driving export growth. 'The electrical machinery and equipment sector is experiencing rapid growth, spurred by rising demand locally and regionally, and linked to the expansion of infrastructure projects, including electricity networks, public utilities, and the development of new cities. This growth is also supported by increased investment in industries related to renewable energy,' said Qassabi. He emphasised that the sector is a priority under Oman's Industrial Strategy 2040, due to its role in developing supply chains, enhancing the added value of the national economy, supporting entrepreneurship, and facilitating the localisation of advanced technologies. Eng Jassim bin Saif al Jadidi, Technical Director at the Office of the Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, stressed the continuation of efforts to expand the presence of Omani products in both regional and global markets. This goal is central to the Industrial Strategy and a key pillar of Oman Vision 2040. He explained that these efforts involve launching a series of qualitative initiatives aimed at improving the efficiency and quality of national products. This includes supporting local manufacturers in meeting the highest technical standards and international specifications, thereby enhancing competitiveness and consumer confidence in Omani goods. He added that the ministry, in coordination with relevant authorities, is working to open new markets for Omani exports by activating regional and international trade agreements, participating in exhibitions and trade missions, and providing incentives and support for Omani exporters. The ministry is also encouraging the growth of knowledge-based industries and the adoption of advanced technologies, including artificial intelligence and Fourth Industrial Revolution tools. These technologies play a crucial role in improving product quality, reducing costs, and ensuring sustainable industrial growth. They also contribute significantly to supporting the national economy, creating quality employment opportunities for Omani nationals, and reinforcing the sultanate's position as a promising industrial and logistics hub in the region. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Economy ME
2 days ago
- Business
- Economy ME
Oman's industrial exports surge 8.6 percent to $4.2 billion in Q1 2025 on electrical equipment manufacturing
Oman's industrial exports witnessed a remarkable 8.6 percent increase during the first quarter of 2025, reaching OMR1.618 billion ($4.2 billion), in comparison to OMR1.490 billion ($3.9 billion) during the same timeframe in 2024, according to recent data released by the National Centre for Statistics and Information . Industrial exports constituted 28 percent of Oman's total exports, highlighting the increasing contribution of the industrial sector to the national economy and the country's efforts toward economic diversification. This growth was propelled by strong performances across various industrial sectors, particularly the electrical equipment and machinery manufacturing sector, which recorded an outstanding growth rate of 141 percent, with its exports surging to OMR128 million compared to OMR53 million in Q1 2024. The metal products sector followed closely, posting a 14.1 percent rise in exports, reaching OMR462 million, driven by the growing international demand for high-quality Omani products. Enhancing competitiveness of Omani products Eng. Khaled Salim Al Qasabi, director general of Industry at the Ministry of Commerce, Industry, and Investment Promotion, remarked that these favorable outcomes reflect the robustness and diversity of Oman's industrial sector. He stressed the ministry's ongoing implementation of integrated industrial policies designed to enhance the competitiveness of Omani products in both regional and global markets while bolstering industrial exports. In statements to Oman News Agency (ONA), he noted that the electrical equipment and machinery sector is witnessing rapid growth due to escalating local and regional demand, fueled by infrastructure expansion projects—especially in electricity networks, utilities, and new cities—alongside increasing investments in renewable energy-related industries. He affirmed that this sector is prioritized under Oman's Industrial Strategy 2040, given its significance in developing supply chains, enhancing value-added economic activities, supporting entrepreneurship, and localizing advanced technologies. Read more: Oman posts $6.7 billion trade surplus, merchandise exports reach $16.88 billion by end of March 2024 Boosting product quality and efficiency In turn, Eng. Jassim Saif Al Jedidi, technical director at the Ministry of Commerce, Industry, and Investment Promotion, underscored ongoing efforts to bolster the presence of Omani products in regional and global markets—a central objective of the industrial strategy and a cornerstone of economic diversification under Oman Vision 2040. Speaking to ONA, he elaborated that these initiatives encompass qualitative efforts to improve the efficiency and quality of national products by aiding local manufacturers in complying with the highest technical standards and international certifications. This not only enhances competitiveness but also boosts consumer confidence in Omani products. He added that the ministry, in collaboration with relevant entities, is striving to open new markets for Omani exports by activating regional and international trade agreements, participating in trade exhibitions and missions, and providing incentives and facilities for Omani exporters. Furthermore, the ministry is promoting knowledge-based and advanced technology industries, including artificial intelligence and Fourth Industrial Revolution technologies, which are pivotal in enhancing product quality, minimizing costs, and achieving sustainable industrial growth. These initiatives contribute to fortifying the national economy, creating quality job opportunities for Omani talent, and positioning Oman as an emerging industrial and logistics hub in the region.
Times of Oman
3 days ago
- Business
- Times of Oman
Electrical equipment manufacturing sector drives growth in Oman's industrial exports
Muscat: Oman's industrial exports witnessed a notable 8.6% increase during the first quarter of 2025, reaching OMR1.618 billion, compared to OMR1.490 billion during the same period in 2024, according to data released by the National Centre for Statistics and Information (NCSI). Industrial exports accounted for 28% of Oman's total exports, underscoring the growing contribution of the industrial sector to the national economy and the country's economic diversification efforts. This growth was driven by strong performance across several industrial sectors, most notably the electrical equipment and machinery manufacturing sector, which recorded exceptional growth of 141%, with its exports rising to OMR128 million compared to OMR53 million in Q1 2024. The metal products sector followed with a 14.1% increase in exports, reaching OMR462 million, fuelled by rising international demand for high-quality Omani products. Eng. Khaled Salim Al Qasabi, Director General of Industry at the Ministry of Commerce, Industry, and Investment Promotion, stated that these positive results reflect the strength and diversity of Oman's industrial sector. He emphasised the ministry's ongoing implementation of integrated industrial policies aimed at enhancing the competitiveness of Omani products in regional and global markets while boosting industrial exports. In remarks to Oman News Agency (ONA), he noted that the electrical equipment and machinery sector is experiencing rapid growth due to increasing local and regional demand, driven by infrastructure expansion projects—particularly in electricity networks, utilities, and new cities—alongside growing investments in renewable energy-related industries. He affirmed that this sector is a priority under Oman's Industrial Strategy 2040, given its role in developing supply chains, enhancing value-added economic activities, supporting entrepreneurship, and localising advanced technologies. Eng. Jassim Saif Al Jedidi, Technical Director at the Ministry of Commerce, Industry, and Investment Promotion, highlighted ongoing efforts to strengthen the presence of Omani products in regional and global markets—a key objective of the industrial strategy and a pillar of economic diversification under Oman Vision 2040. Speaking to ONA, he explained that these efforts include launching qualitative initiatives to improve the efficiency and quality of national products by supporting local manufacturers in adhering to the highest technical standards and international certifications. This enhances competitiveness and consumer confidence in Omani products. He added that the ministry, in coordination with relevant entities, is working to open new markets for Omani exports by activating regional and international trade agreements, participating in trade exhibitions and missions, and providing incentives and facilities for Omani exporters. Additionally, the ministry is promoting knowledge-based and advanced technology industries, including artificial intelligence and Fourth Industrial Revolution technologies, which play a pivotal role in improving product quality, reducing costs, and achieving sustainable industrial growth. These efforts contribute to strengthening the national economy, generating quality job opportunities for Omani talent, and positioning Oman as a promising industrial and logistics hub in the region.
The National
08-05-2025
- Business
- The National
UAE industrial exports surge to $53.6bn on local manufacturing boost
The value of UAE industrial exports rose to Dh197 billion ($53.6 billion) last year, up about 5 per cent annually and 68 per cent since 2020, as the country continues to boost local manufacturing and forge new global partnerships. 'Industry is a key driver of economic diversification and a catalyst for building national capabilities and job creation,' Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, said on Thursday. 'It's a cornerstone for enhancing economic competitiveness, regardless of fluctuations in geopolitical conditions, oil prices or other factors.' Dr Al Jaber, who is also chief executive of Adnoc, made the remarks while announcing details about the fourth edition of Make it in the Emirates event that will be held in Abu Dhabi from May 19 to 22. The UAE has been focusing on industrial growth as it diversifies its economy away from oil. The country launched its industrial strategy, Operation 300bn, in 2021 to position the country as an industrial centre by 2031. The 10-year strategy focuses on increasing the industrial sector's contribution to gross domestic product to Dh300 billion by 2031, from Dh133 billion in 2021. The Emirates has also signed 21 Comprehensive Economic Partnership Agreements to boost trade and attract investment into the country. The country's Cepas with partners such as India, Israel, Turkey, Indonesia, Cambodia, Georgia, Costa Rica and Mauritius have already taken effect. Trade deals with countries including Colombia, South Korea, Australia, New Zealand and Malaysia are awaiting ratification. The UAE's foreign trade exceeded Dh5 trillion ($1.36 trillion) in 2024, with a trade surplus of more than Dh490 billion, Dr Al Jaber said, citing data from the World Trade Organisation. 'This reflects our open economic model, pursuit of Cepas and elimination of trade barriers with markets across Asia, the Pacific, Europe, Africa and South America,' he said. 'The UAE has chosen openness, connectivity and the free movement of trade, capital and people. It has strengthened our role as a bridge between East and West.' The UAE is 'well-positioned to become a destination of choice for countries worldwide for investment, manufacturing, and export, as well as a hub for attracting exceptional talent and expertise', Dr Al Jaber added. The In-Country Value Programme launched by Adnoc in 2018, which aims to channel procurement towards local products and services, has also produced tangible results. 'Local spending rose from Dh18 billion in 2018 to Dh110 billion last year. Cumulatively, over Dh347 billion has been channelled into the national economy, benefitting national products and services, investments, salaries and more,' Dr Al Jaber said. The Make it in the Emirates event, set to be spread across 68,000 square metres - five times larger compared to the previous edition, will have more than 700 exhibitors.
