General outline of the trade exchange
Italy is one of Oman's main foreign suppliers.
According to data elaborated by the Italian Institute for Statistics (ISTAT), bilateral trade with Oman in 2004 has amounted to 356,6 million euros, with Italian exports reaching 342,9 million euros and imports from Oman 13,7 million.
Compared to 2003, Italian exports to Oman have increased by 87.2%, while imports have grown by 2.4%.
In 2004, the bilateral trade balance has reached, in line with the previous years, a strong surplus (+ 329,2 million euros), confirming the grand opportunities that the Omani market, like those of the Gulf in general, offers today to the Italian enterprises willing to operate in a region of strong economic growth..
Exchange of Italy with Oman (in million Euro)
|
2000 |
2001 |
2002 |
2003 |
2004 |
| Exports |
103.1 |
197.1 |
197.1 |
183.4 |
392.9 |
| Imports |
5.5 |
9.8 |
13.2 |
13.4 |
13.7 |
| Balance |
+97.6 |
+119.8 |
+183.9 |
+170 |
+329.2 |
| exchange |
108.6 |
139.4 |
210.3 |
196.8 |
356.6 |
Source: elaboration of Embassy of Italy on ISTAT data.
Italian Exports
The strong increase of the Italian exports to Oman, (grown in one year from 183 to 343 million Euros), are confirmed by Omani statistics related to foreign trade in the first ten months of 2004. Adopting a different calculation method, the official data of the Ministry of the National Economy, confirm that Italy, with 207 million Rials of exported goods and services, has advanced various positions in the classification of trade partners of Oman becoming, for the first time, the third supplier of the Sultanate, after the United Arab Emirates (836 million Rials) and Japan (378 million), and before Germany (161 million) and United Kingdom (140 million).
The first 10 items of the Italian exports in Oman:
(January-October period, values in Euro)
|
|
2002 |
2003 |
2004 |
|
1 |
Iron & steel |
6.001.854 |
13.401.330 |
96.708.506 |
|
2 |
Industrial machines & Equipment for general use, and their parts and accessories |
24.063.141 |
21.503.436 |
67.146.848 |
|
3 |
Generating machines, motors and accessories |
77.214.880 |
4.024.370 |
65.680.486 |
|
4 |
Machines & equipment specialized for specific industries |
14.499.361 |
12.437.812 |
34.625.177 |
|
5 |
Electrical machines & equipment for general use, and their electrical parts and accessories |
11.973.031 |
3.113.007 |
10.662.223 |
|
6 |
Metal works |
4.807.031 |
6.430.404 |
8.759.893 |
|
7 |
Professional, scientific and control instruments and Equipments |
2.323.138 |
3.752.678 |
5.102.322 |
|
8 |
Rubber articles |
1.995.395 |
2.970.047 |
3.385.621 |
|
9 |
Mineral non-metallic articles |
3.552.981 |
3.380.284 |
3.211.458 |
|
10 |
Furniture and their parts, bed articles, mattresses, kitchens and similar articles |
3.828.418 |
2.234.654 |
2.482.876 |
Source: elaboration of Embassy of Italy on ISTAT Foreign Trade Statistics, analysis by divisions, category selected goods "CTCI".
Italian imports from Oman
Italy is not among the importers of Omani crude oil, first export product of the Sultanate. In the last three years, more than 70% of the Italian imports from Oman are represented by "foodstuff and live animals", and in particular fish, crustaceans and mollusks.
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