Oil-rich Oman has recorded an unprecedented increase of 59% in its non-oil related exports in 2007, exceeding 1bn Omani riyals [US$2.6bn] for the first time ever.
According to the Omani Centre for Investment Promotion and Export Development (OCIPED), Omani non-oil exports grew RO1.29bn [US$3.351bn] in 2007, up from RO812 million [US$2.109bn] in 2006.
Aiman Ambusaidi, director of Export Development of OCIPED, comments: "The performance has been in line with the export strategy adopted by OCIPED, which has identified thrust products and target markets for the period 2006-2010."
OCIPED, charged with diversifying the Omani economy to include non-oil resources, has set an export target of RO2bn [US$5.7 billion] for non-oil products by 2010.
Last Updated July 28, 2008
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