Russia's foreign trade turnover fell by 29.5 percent in January-February

Russia's foreign trade turnover in the first two months of 2016 plunged 29.5 percent year on year to 59.0 billion U.S. dollars, said the Federal Customs Service Thursday.

From January to February, Russia's export shrank 34.5 percent year on year to 37.8 billion dollars, and import shrank 18.4 percent year on year to 21.2 billion dollars, according to newly published statistics on the agency's website.

"Fuel and energy goods are a major part of Russia's exports, which account for 62 percent, down from 70 percent last year," the statement said.

According to the data, the value of energy products in the first two months fell by 42 percent year on year.

Among fuel and energy products, the volume of crude oil increased by 2.5 percent and natural gas by 31.8 percent. Endi