Oman’s e-commerce market value hits $2.2bln

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Muscat – The value of e-commerce sector in Oman hit US$2.2bn last year, as announced at the inaugural Oman E-Commerce Forum on Monday.

The market is segmented into five primary sectors, with electronics and media leading at 32.9%. This is followed by food and personal care products accounting for 25%, fashion at 22.2%, furniture and home appliances at 13.3%, and finally, games, hobbies and crafts comprising 6.6%.

During the forum, H E Dr Saleh bin Said Masan, Undersecretary for commerce and industry in the Ministry of Commerce, Industry and Investment Promotion, stressed on the pivotal role of e-commerce in today’s economy. “E-commerce represents an essential part of the modern global economy and plays a vital role in strengthening economic and cultural relations between nations and achieving sustainable development,” he stated.

He highlighted how e-commerce accelerates growth by expanding access to global markets, increasing cross-border trade and investment opportunities, stimulating innovation, and fostering cultural exchanges through the global movement of products, services, and ideas.

Azza bint Ibrahim al Kindi, Director of Commercial Affairs and e-Commerce at MTCIT, reported that by the end of 2023, 46% of the initiatives from the National E-Commerce Plan were completed.