Gold imports to Oman are up 41% in 2024
Sat Aug 24 2024
The Sultanate of Oman's total gold imports by the end of May this year increased by 41 percent to reach RO176,591,960, compared to the same period in 2023, which recorded about RO125,100,929.
The total weight of gold imported by the Sultanate of Oman by the end of May 2024 amounted to about 8,443 kg, compared to 5,675 kg in the same period in 2023, according to the National Center for Statistics and Information.
The United Arab Emirates came in the list of countries exporting gold to the Sultanate of Oman at the end of May 2024, with a value of RO170, 395, 964, followed by Hong Kong with RO3, 173, 485, followed by Turkey with RO1, 420, 125 and Kingdom of Bahrain with RO680, 688, and Russia with RO314, 615.
The total value of the Sultanate of Oman's gold exports amounted to RO14,690,377 at the end of May of this year, a decrease of 23 percent compared to the same period in 2023, when the value of exports amounted to RO18,990,962.
The total weight of gold exported by the end of May of this year amounted to about 510 kg, compared to 924 kg by the end of May of 2023.
The United States of America came at the forefront of countries importing gold from the Sultanate of Oman by the end of May 2024, with a value of RO7,228,175, followed by the United Arab Emirates with RO6,004,272, Hong Kong with RO603 488, the Republic of India with RO475, 584, and the Kingdom of Bahrain with RO203, 601.
Iran came at the forefront of the countries to which gold was re-exported from the Sultanate of Oman by the end of May 2024, with a value of RO41,594,815, followed by Turkey RO3, 833, 541, the United Arab Emirates RO3, 346, 732, the United States of America RO3, 183, 838, and the Republic of India RO23, 374.
The average price of a gram of 24-carat gold rose by the end of the second quarter of this year to RO29. 950, compared to RO26.400 by the end of the first quarter of this year, while the average price of a gram of 21-carat gold rose to RO25.833, compared to RO22. 717, and the average price of 18-carat gold was RO22.33, up from RO19.350.
The total number of establishments and facilities operating in the retail sale of gold and jewelry reached 771 by the end of the second quarter of 2024, including 536 in Muscat Governorate.
Source: https://www.omanobserver.om/