Russia fell to 12th place among the countries included in the list of most important destinations for German exports outside the EU.
In April, Germany exported goods to Russia worth 828.2 million euros, which is 64.1% lower than the same period in 2021. In March of this year, the decline in exports reached 57.5%. This was reported by the Federal Statistical Office of Germany (Destatis).
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The collapse mainly affected the automotive sector (fell to 226.9 million euros, that is, by 57.7% compared to April 2021) and chemical products (exports decreased by 53.1%, to 114.1 million euros).
At the same time, a sharp decline in the volume of exported products to Russia was offset by a significant increase in imports in April in terms of value, Destatis noted. Shipments to Germany from Russia rose 41.9% to 3.7 billion euros. The most important imports are oil and natural gas. Their value rose 37.8% to 2.2 billion euros.
In addition, Moscow supplied coke and oil products (+94.3% to 0.4 billion euros), as well as coal (+334.7% to 0.4 billion euros). As for the volume of imports, this indicator showed a decrease of 26.1% compared to April 2021.
Thus, the increase in the value of imported products is mainly caused by the increase in prices, especially in the energy sector.
The positive balance of foreign trade imports with Russia in April reached 2.9 billion euros. A month earlier, it had reached approximately 3.4 billion euros.
In March, Russia ranked only 12th among the countries included in the list of most important destinations for German exports outside the EU. In February, the Russian Federation was in fifth position on the list.
Recall that in the 100 days of the war against Ukraine, Russia received 93 billion euros from energy exports. Russia’s largest buyer of gas and oil so far remains the European Union – 61% or 57 billion euros.
Source: Deutsche Welle Russian Service
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