Oman’s Ministry of Commerce, Industry, and Investment Promotion revealed that the country’s e-commerce market reached a value of $2.2 billion in 2023. This announcement was made at the inaugural Oman E-Commerce Forum.
The e-commerce sector in Oman is divided into five main categories. Leading the market is electronics and media, which hold a 32.9 percent share. Food and personal care products follow with 25 percent, fashion with 22.2 percent, home appliances with 13.3 percent, and games, hobbies, and crafts making up 6.6 percent.
Dr. Saleh bin Said Masan, Undersecretary for Commerce and Industry, emphasized the vital role of the e-commerce sector in the evolving economy, stating that it has become a crucial component of the modern global economy. He underscored the sector’s contribution to global economic and cultural relations and sustainable development.
Masan explained that e-commerce accelerates economic growth by expanding access to global markets, increasing cross-border trade and investment, stimulating innovation, and fostering cultural exchanges through the global movement of products, services, and ideas.
The ministry highlighted that the global e-commerce market was valued at $5.8 trillion in 2023. The World Trade Organization (WTO) expects this market to grow by 39 percent in the coming years, driven by increased internet and smartphone adoption, fintech advancements, and the proliferation of e-commerce websites.
In Oman, the WTO projects the e-commerce market’s revenue to grow at a compound annual growth rate of 9.8 percent from 2023 to 2027, reaching an estimated $3.327 billion by 2027.
