ALMATY, Oct 17 (Reuters) - Kazakhstan's current account surplus shrank by 63.3 percent in the first half of this year compared to the same period in 2012 as exports fell and lower prices for Kazakh oil and metals further cut revenues, the central bank said on Thursday.
The current account surplus stood at $1.671 billion in January-June, down from $4.549 billion in the first six months of 2012, the bank said.
Kazakhstan, Central Asia's largest economy and the second-largest post-Soviet oil producer after Russia, holds 3 percent of the world's recoverable oil reserves. Besides oil, Kazakhstan is also a major producer and exporter of industrial metals.
Brent crude prices averaged $108 per barrel in the first half of this year, down from $113.7 in the first half of 2012, the bank said.
Exports fell by 7.0 percent in the same period, while imports grew by 10.9 percent, cutting the foreign trade turnover to $17.8 billion from $23.3 billion in the first half of 2012.
Kazakhstan's current account surplus dropped to $640.4 million last year from $10.2 billion in 2011.
(Reporting by Mariya Gordeyeva; Writing by Dmitry Solovyov, Editing by Gareth Jones) Keywords: KAZAKHSTAN CURRENTACCOUNT/
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