Oman

Upon entry into force of the United States-Oman Free Trade Agreement (FTA) on January 1, 2009, Oman provided immediate duty-free access on virtually all industrial and consumer products in its tariff schedule duty-free access for U.S. agricultural products in 87 percent of agricultural tariff lines. Oman will phase out tariffs on the remaining products within 10 years.  The agreement also provides for substantial market access across Oman's entire services regime, a secure, predictable legal framework for U.S. investors operating in Oman, an effective enforcement of labor and environmental laws, and enhanced protection of intellectual property.

U.S.-Oman Trade Facts

Oman is currently our 69th largest goods trading partner with $3.6 billion in total (two way) goods trade during 2011. Goods exports totaled $1.4 billion; Goods imports totaled $2.2 billion. The U.S. goods trade deficit with Oman was $775 million in 2011.

Exports

Oman was the United States' 72nd largest goods export market in 2011.

U.S. goods exports to Oman in 2011 were $1.4 billion, up 29.8% ($329 million) from 2010. U.S. exports to Oman are up 3.8% from 2008 (Pre-FTA)

The top export categories (2-digit HS) in 2011 were: Machinery ($325 million), Vehicles ($305 million), Electrical Machinery ($148 million), Aircraft ($130 million), and Optic and Medical Instruments ($63 million).

U.S. exports of agricultural products to Oman totaled $88 million in 2011. Leading categories include: wheat ($49 million), and poultry meat ($9 million).

Imports

Oman was the United States' 68th largest supplier of goods imports in 2011.

U.S. goods imports from Oman totaled $2.2 billion in 2011, a 185.6% increase ($1.4 billion) from 2010. U.S. imports from Oman are up 159% from 2008 (Pre-FTA).

The five largest imports categories in 2011 were: Mineral Fuel (crude oil) ($1.7 billion), Precious Stones (jewelry) ($173 million), Plastic ($153 million), Fertilizers ($150 million), and Iron and Steel Products ($29 million).

U.S. imports of agricultural products from Oman totaled $264 thousand in 2011.

Trade Balance

The U.S. goods trade with Oman went from a surplus of $332 million in 2010 to a deficit of $775 million in 2011.

Historical Trade Data Note: FTA entry into force January 1, 2009.

U.S. Goods Trade with Oman (in millions of dollars)

Investment

U.S. foreign direct investment (FDI) in Oman (stock) was not available in 2010.

Oman FDI in the United States (stock) was not available in 2010.

*NOTE: No services trade data with Oman is available.

2/15/12