GCC-France Trade Surges to $29.7 Billion in 2023: Key Opportunities for Investors and Businesses in Oman

• By Hibba al Kindi
• July 27, 2025July 28, 2025
• Export-Import Statistics GCC-France Trade Mineral Fuels and Machinery
• With 0 comments

According to a recent report by the GCC Statistics Center, total trade between the Gulf Cooperation Council (GCC) countries and France reached USD 29.7 billion in 2023. This marks an 8.42% decrease compared to the $32.2 billion recorded in 2022.

Exports from the GCC to France sharply declined by 24.04%, falling to $13.9 billion in 2023 from $18.3 billion the previous year. The majority of these exports consisted of mineral fuels, oils, and waxes, which accounted for 81.3% of the total export value at $11.3 billion. Miscellaneous items made up 7.8% ($1.1 billion), followed by aircraft, spacecraft, and parts at 3.6% ($0.5 billion).

Other notable export categories included machinery and mechanical appliances at 2.9%, precious stones and metals at 2.2% ($0.3 billion), and inorganic chemicals, also at 2.2% ($0.3 billion).

In contrast, imports from France to the GCC countries rose by 13.67% in 2023, reaching $15.8 billion compared to $13.9 billion in 2022. Miscellaneous items dominated imports with a share of 43.7% valued at $6.9 billion. Machinery and mechanical appliances followed with 17.7% of imports valued at $2.8 billion.

Other significant import categories included oils, resinoids, perfumery, and cosmetics at 13.8% ($2.2 billion), precious stones and metals at 10.1% ($1.6 billion), pharmaceutical products at 8.9% ($1.4 billion), and electrical machinery and equipment at 5.7% ($0.9 billion).

Special Analysis by Omanet | Navigate Oman’s Market

The 8.42% decline in GCC-France trade, driven by a sharp 24% drop in GCC exports, signals potential vulnerabilities in Oman’s traditional export sectors like mineral fuels. However, the 13.67% rise in imports from France, particularly in machinery, pharmaceuticals, and luxury goods, highlights growing demand for advanced technologies and high-value products in Oman’s market. Smart investors should consider diversifying export portfolios and leveraging opportunities in high-tech imports and value-added industries to stay competitive and resilient.