Kazakhstan reduced the export of goods up to $8.4 billion amid falling oil prices in the first quarter of 2016, which is 30.5 percent less than in the first quarter of 2015, the National Bank of Kazakhstan said May 11.

The export of oil and gas condensate decreased by 41.1 percent in value terms. The exports of other goods declined by 12.8 percent.

The import of goods also decreased by 27.8 percent and amounted to $5.7 billion compared to the same period of 2015. This has been the lowest index for the quarter since 2010.

The volumes of import sharply reduced due to the impact of the exchange rate adjustment, the statement said.

The import of all types of products, namely, non-food consumer items and investment goods, decreased.

Thus, the trade surplus amounted to $2.7 billion in the first quarter of 2016, which is 21.8 percent more than in the fourth quarter of 2015 and 35.4 percent less than in the first quarter of 2015.

Source: Trend