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Russia's foreign trade up 18% in Jan-Apr 07

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MOSCOW, May 28 (RIA Novosti) - Russia's foreign trade increased 18% year-on-year in the first four months of 2007 to $157.9 billion, the economics ministry said Monday.

In April Russian exports stood at $26.7 billion and imports amounted to $16.8 billion, against $24 billion and $11.4 billion respectively in the same month of last year.

Production of oil and gas condensate edged up 3.6% year-on-year in January-April to 161 million metric tons.

The ministry said the country exported 85.1 million metric tons of crude (625.5 million bbl) in the same period, up 4.6% against January-April 2006.

During the reporting period, the average price of Urals crude was $56.6 per barrel, down 5.4% year-on-year.

Russian gas output in the first four months of 2007 grew 0.7% year-on-year to 231 billion cubic meters.

"The increase in gas output was to a large extent helped by a 1.1% rise in gas production by Gazprom Group (195.4 billion cubic meters), which brought Gazprom Group's share in overall gas production up to 86.4%," the ministry said.

Oil producers and independent gas producers extracted around 36 billion cubic meters of natural gas, down 1.1% year-on-year.

Russia exported 60.4 billion cubic meters of gas in January-April 2007, down 20.2%. The ministry said the decline was due to lower gas demand in the warm winter of 2007 and a lack of gas supplies to Azerbaijan.

The economics ministry said investment in Russia in January-April was up a record 20% against the same period of last year.

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