Oman's E-commerce Market Value Surges To A Whopping $2.2 Billion
The e-commerce sector in Oman has reached a milestone, recording a value of $2.2bn in the previous year, as revealed at the Oman E-Commerce Forum's first gathering on Monday. This significant achievement underscores the sector's robust growth and its substantial contribution to the nation's economy.
E-commerce in Oman is diversified across five main sectors, with electronics and media taking the lead, holding a dominant share of 32.9%. This sector is closely followed by food and personal care products, which account for 25% of the market. Fashion products also mark a significant presence with 22.2%, while furniture and home appliances contribute 13.3%. The games, hobbies, and crafts sector, though smaller, still makes up a notable 6.6% of the e-commerce landscape.
H.E. Dr. Saleh bin Said Masan, Undersecretary for Commerce and Industry at the Ministry of Commerce, Industry and Investment Promotion, highlighted the critical role of e-commerce in bolstering the global economy. He emphasized, "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." Dr. Masan elaborated on how e-commerce not only propels economic growth by broadening access to global markets but also enhances cultural exchanges and stimulates innovation through the global movement of goods, services, and ideas.
Further shedding light on the Oman E-Commerce Forum, Azza bint Ibrahim al Kindi, Director of Commercial Affairs and e-Commerce at MTCIT, shared insights into the progress of the National E-Commerce Plan. According to her report, by the end of 2023, an impressive 46% of the initiatives from the National E-Commerce Plan were successfully completed, marking a significant step towards achieving the outlined goals.
The forum not only served as a platform to showcase the thriving e-commerce sector in Oman but also highlighted the concerted efforts by the government and industry stakeholders to accelerate its growth. Through initiatives like the National E-Commerce Plan, Oman is steadily advancing towards a more integrated and globally competitive e-commerce ecosystem.
As e-commerce continues to evolve as a critical engine for economic growth and cultural exchange, Oman's strategic focus on developing this sector promises to unlock new opportunities for trade, innovation, and sustainable development in the years to come.
Sign in with Google