Upon entry into force of the United States-Oman Free Trade Agreement (FTA) on January 1, 2009, Oman provided immediate duty-free access on virtually all industrial and consumer products in its tariff schedule duty-free access for U.S. agricultural products in 87 percent of agricultural tariff lines. Oman will phase out tariffs on the remaining products within 10 years. The agreement also provides for substantial market access across Oman's entire services regime, a secure, predictable legal framework for U.S. investors operating in Oman, an effective enforcement of labor and environmental laws, and enhanced protection of intellectual property.
U.S.-Oman Trade Facts
Oman is currently our 73rd largest goods trading partner with $2.5 billion in total (two way) goods trade during 2013. Goods exports totaled $1.5 billion; Goods imports totaled $1.0 billion. The U.S. goods trade deficit with Oman was $482 million in 2013.
Oman was the United States' 70th largest goods export market in 2013.
U.S. goods exports to Oman in 2013 were $1.5 billion, down 13.9% ($243 million) from 2012. U.S. exports to Oman are up 8.9% from 2008 (Pre-FTA).
The top export categories (2-digit HS) in 2013 were: Vehicles ($448 million), Machinery ($366 million), Electrical Machinery ($134 million), Optic and Medical Instruments ($78 million), and Special Other (low value shipments) ($77 million).
U.S. exports of agricultural products to Oman totaled $57 million in 2013. Leading categories include: poultry meat ($15 million), and vegetable oils (excluding soybean) ($10 million).
Oman was the United States' 78th largest supplier of goods imports in 2013.
U.S. goods imports from Oman totaled $1.0 billion in 2013, a 24.5% decrease ($332 million) from 2012. U.S. imports from Oman are up 20% from 2008 (Pre-FTA).
The five largest imports categories in 2013 were: Plastic ($311 million), Fertilizers ($239 million), Precious Stones (jewelry) ($223 million), Mineral Fuel (crude oil) ($98 billion), and Iron and Steel Products ($87 million).
U.S. imports of agricultural products from Oman totaled $2 million in 2013.
The U.S. goods trade surplus with Oman was $482 million in 2013, up 22.8% ($89 million) from 2012.
U.S. foreign direct investment (FDI) in Oman (stock) was not available in 2012.
Oman FDI in the United States (stock) was not available in 2012.
*NOTE: No services trade data with Oman is available.