 Since 2003, the exports of natural resources started decreasing in economic importance as the internal market strengthened considerably.the oil-and-gas sector accounted for 16% of GDP, 52% of federal budget revenues and over 80% of total exports.Oil export earnings allowed Russia to increase its foreign reserves from $12 billion in 1999 to $597.3 billion on 1 August 2008. , foreign reserves in Russia fell to US$332 Billion.