Muscat: The Sultanate of Oman witnessed a decline in the total value of vehicle spare parts imports by the conclusion of the initial five months of 2024, marking a reduction of 11.8 percent. This figure, as reported by the National Centre for Statistics and Information (NCSI), stands at OMR44,695,140, a significant drop from the OMR50,683,871 recorded during the same period in 2023.
In terms of origin, the United Arab Emirates (UAE) emerged as the leading supplier of vehicle spare parts to Oman by the end of May 2024, contributing OMR19,480,336 to the total imports. Japan secured the second position with OMR13,728,648, followed by India with OMR2,156,903, Thailand with OMR1,999,484, and China with OMR1,669,950.
Conversely, Oman experienced a notable increase in the value of its vehicle spare parts exports by the end of May 2024, rising by 27.04 percent to OMR9,868,483. This growth was in stark contrast to the OMR7,767,713 recorded in the corresponding period of 2023.
Regarding volume, Oman's exports of vehicle spare parts during the initial five months of 2024 amounted to 14,327,313 kilograms, a significant increase from the 10,244,585 kilograms observed in the same period of 2023.
In terms of destination, the Czech Republic emerged as the primary importer of Oman's vehicle spare parts by the end of May 2024, with OMR4,098,425 worth of imports. The United States of Mexico followed closely behind with OMR2,066,158, the Netherlands with OMR1,193,587, the United States of America with OMR709,888, and the United Arab Emirates with OMR510,330.
However, the value of vehicle spare parts re-exports from Oman witnessed a significant decline by the end of May 2024, dropping by 65.66 percent to OMR11,125,786, a sharp contrast to the OMR32,396,522 recorded in the previous year.
In terms of weight, the total weight of vehicle spare parts re-exported from Oman during the initial five months of 2024 was 2,646,405 kilograms, a notable decrease from the 5,286,371 kilograms recorded at the end of May 2023.
At the end of May 2024, the United Arab Emirates remained the leading destination for Oman's re-exported vehicle spare parts, with a value of OMR7,282,841. Following closely behind were Turkey with OMR2,170,831, the United Kingdom with OMR636,822, the Grand Duchy of Luxembourg with OMR132,236, and the United States of America with OMR128,680.
Furthermore, Oman saw a significant increase in the number of establishments engaged in the sale of vehicle spare parts by the end of April 2024, with a total of 1,527. Among these, 856 were involved in the sale of new spare parts for vehicles, while 671 operated in the retail sale of used spare parts.
