Oman’s Vehicle Spare Parts Imports Decline in 2024

According to data released by the National Centre for Statistics and Information (NCSI), Oman’s total imports of vehicle spare parts by the end of May 2024 reached OMR 44.695 million (USD 116.12 million), marking an 11.8% decrease compared to the same period in 2023, when the figure was around OMR 50.684 million (USD 131.74 million). The total weight of imported spare parts during this period also saw a decline, reaching 11,348,034 kilograms.

The United Arab Emirates topped the list of suppliers to Oman, with imports worth OMR 19.480 million (USD 50.63 million) by the end of May 2024. Japan and India followed, with imports valued at OMR 13.728 million (USD 35.70 million) and OMR 2.157 million (USD 5.61 million) respectively.

On the other hand, data shows that Oman’s exports of vehicle spare parts by the end of May 2024 reached OMR 9.868 million (USD 25.62 million), reflecting a 27.04% increase compared to the same period last year. The total weight of exported spare parts also increased significantly, reaching 14,327,313 kilograms.

In terms of re-exports, the value of vehicle spare parts re-exported from Oman by the end of May 2024 amounted to OMR 11.126 million (USD 28.88 million), experiencing a 65.66% decrease compared to the same period in 2023.

It is noteworthy that the total number of establishments operating in the sale of vehicle spare parts in Oman by the end of April 2024 reached 1,527 units, of which 856 establishments were engaged in selling new parts and 671 establishments in retailing used spare parts.

Source: Oman’s Vehicle Spare Parts Imports Decline in 2024 (omandaily.om)