Kazakhstan loses $1.2 billion because of a reduction in oil exports

Kazakhstan has lost $1.2 billion because of reduction of oil export, the Oilnews.kz reports, referring to general director of the Kazakh Ministry of Economy and Budget Planning’s Centre of Trade Policy Development, Ruslan Sultanov.

If looking at the dynamics of imports and exports, then we will see a small reduction of the export by results of the previous year as compared with 2012. The main reason is the decrease of prices of the exported Kazakh oil by about 2%. Taking into account that export of oil, gas, etc is roughly 60-70% - this is a very significant part of goods in the export – the reduction of exported oil by 2% has led to decrease of the total export income by $1.2 billion, - R.Sultanov said at the briefing.