Credit Oman reports 10% growth in insured export sales

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MUSCAT: Credit Oman has reported a 10 per cent increase in the value of insured exports during the first half of the year, reaching a total of RO 106.594 million compared to RO 96.672 million in the same period last year.

Shaikh Khalil bin Ahmed al-Harthy, CEO of Credit Oman, stated that Omani exports have witnessed significant growth in recent years due to the government's focus on diversifying income sources and the economic policies implemented to encourage investment and entrepreneurship.

In a statement to the Oman News Agency, Al-Harthy added that Credit Oman's efforts align with government initiatives to support Omani exports and achieve global reach. The total value of insured exports and domestic sales during the first half of the year reached RO 183.785 million.

He further noted that Credit Oman's insured sales represented 7.5 per cent of the total insurable Omani exports at the end of the first half of the year. The construction and building materials sector topped the list of insured sales with a total value of RO 42 million, followed by the food and consumer goods sector with a value of RO 35.2 million, and the petrochemicals and plastics sector with a value of RO 18.6 million.

The CEO of Credit Oman explained that the insured sales in the fisheries sector have improved during the first half of the year, reaching a total value of RO 945K compared to the same period last year.