MUSCAT: Credit Oman has achieved a 5.4% growth in its overall performance for the year 2024, marking a significant milestone in the country’s export and sales sectors. The company’s total insured exports and local sales reached RO 376.4 million, up from RO 356.9 million in 2023. This positive growth highlights the resilience and competitiveness of Omani businesses in the international market, as well as the effectiveness of Credit Oman’s policies and strategies. This performance further indicates the country’s growing involvement in global trade and its ability to foster strong relationships with international partners.
The increase in insured exports and local sales is a result of Credit Oman’s strategic initiatives to support domestic industries and facilitate their expansion into new markets. By offering financial products that protect against risks associated with exports, Credit Oman has played a crucial role in enabling Omani businesses to confidently explore international markets. This, in turn, has contributed to the rise in both insured exports and local sales, reinforcing the country’s economic stability and fostering its role as a reliable trading partner.
Furthermore, this growth can also be attributed to the improving global economic conditions, which have provided more opportunities for Omani exporters. The diversification of Oman’s economy under Vision 2040 is expected to continue driving growth in non-oil sectors, with Credit Oman’s performance being a reflection of these broader economic shifts. As Oman continues to strengthen its position in international trade, the growth in insured exports and local sales will likely contribute to the country’s efforts to reduce its reliance on oil exports and increase its global market share.
Looking ahead, Credit Oman aims to maintain this growth trajectory by focusing on expanding its services and products to meet the evolving needs of businesses. With a continued emphasis on supporting the export sector and local sales, Credit Oman is positioned to play a key role in Oman’s broader economic development strategy. This strong performance in 2024 is a testament to the effectiveness of Credit Oman’s business model and its ability to adapt to changing market conditions while supporting the growth of Omani industries.
