2023
Exports
$4.55BWorld Rnk 28 / 219
Flag Rnk 2 / 96
2023
PRODUCT COMPLEXITY IN Iron & steel
1.66Rnk 26 / 1025
2023
Imports
$1.65BWorld Rnk 52 / 224
Flag Rnk 5 / 96
2023
ECONOMIC COMPLEXITY of Oman
-0.32Rnk 76 / 132

About

Exports In 2023, Oman exported $4.55B in Iron & steel, making it the 28th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 2nd most exported product in Oman. The main destination of Iron & steel exports from Oman are: Indonesia ($1.04B), Saudi Arabia ($820M), United Arab Emirates ($612M), Thailand ($481M), and China ($478M).

The fastest growing export markets for Iron & steel of Oman between 2022 and 2023 were United Arab Emirates ($148M), Malaysia ($142M), and Dominican Republic ($52.8M).

Imports In 2023, Oman imported $1.65B in Iron & steel, becoming the 52nd largest importer of Iron & steel in the world. At the same year, Iron & steel was the 5th most imported product in Oman. Oman imports Iron & steel primarily from: India ($527M), United Arab Emirates ($343M), Pakistan ($252M), China ($203M), and Iraq ($106M).

The fastest growing import markets in Iron & steel for Oman between 2022 and 2023 were India ($284M), China ($41.6M), and South Africa ($12.6M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron & steel. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$4.55B
IMPORTS (2023)$1.65B
NET TRADE (2023)$2.9B

In 2023, Oman exported $4.55B in Iron & steel. The main destinations of Oman exports on Iron & steel were Indonesia ($1.04B), Saudi Arabia ($820M), United Arab Emirates ($612M), Thailand ($481M), and China ($478M).

In 2023, Oman imported $1.65B in Iron & steel, mainly from India ($527M), United Arab Emirates ($343M), Pakistan ($252M), China ($203M), and Iraq ($106M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Oman WERE (2022 - 2023):
Malaysia$142M (2.81k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Oman WERE (2022 - 2023):
Saudi Arabia-$638M (-43.8%)
Thailand-$338M (-41.2%)
Indonesia-$119M (-10.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Oman's main exporting competitors in Iron & steel were:
China $66.2B
Germany $32.6B
Japan $31.6B
In 2023, Oman's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $159M
TOP IMPORT POTENTIALChina+ $36.3M

Iron & steel’s highest export potential is China. With an export gap of $159M.   Iron & steel’s highest import potential is China with an import gap of $36.3M.

See methodology.

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