Breaking NewsEconomy

German exports to Russia increased significantly

Germany exported fewer goods in May.

But more was delivered to Russia in particular.

Germany’s exporters did significantly better business in May than a year earlier. Compared to the previous month of April, however, exports of goods fell by 0.5 percent, while imports rose by 2.7 percent, as the Federal Statistical Office announced on Monday in Wiesbaden.

Exports to Russia rose by 29.4 percent month-on-month to 1.0 billion euros in May, despite sanctions against the country following the attack on Ukraine and measures to restrict exports. In March and April they had fallen significantly. Pharmaceutical products, which are exempt from the sanctions, account for the largest share.

Fewer imports from Russia

Imports from the country decreased compared to the previous month by 9.8 percent to 3.3 billion euros. Russia mainly supplies raw materials and energy.

Within a year, exports “Made in Germany” rose sharply in May by 11.7 percent to 125.8 billion euros. Imports increased by 27.8 percent to 126.7 billion euros. Exports to Russia fell by 54.6 percent year-on-year.

Show More

Related Articles

Back to top button
Breaking News
%d bloggers like this: