Foreign trade
Russia trade is losing massive importance for Germany
Before the war against Ukraine began, Russia was an important trading partner for Germany. The sanctions have the country slipped deeply in the ranking of the goods suppliers.
As a supplier of goods for the German economy, Russia is still losing significantly more importance for the German economy. Because of the war of aggression on Ukraine and the sanctions imposed on the Russian Federation, the imports from the Russian Federation broke up by 94.6 percent to a value of 1.8 billion euros compared to 2021, as the Federal Statistical Office in Wiesbaden announced. Before the start of the war and the EU’s 17 sanctions packages against Russia so far, imports from there amounted to 33.1 billion euros in 2021.
Exports to Russia also shrank: in 2024, Germany was worth 7.6 billion euros to Russia, 71.6 percent less than in 2021.
Meanwhile 17th sanction package put into force
The EU countries had only put the 17th sanction package against Russia in May in view of the ongoing war of aggression against Ukraine. Among other things, it provides for a further tightening of the procedure against the so -called Russian shadow fleet for the transport of oil and oil products. Further sanctions of the EU aim at export bans for industrial or military goods and to the access of Russia to capital and financial markets.
Russia in 59th place of the most important delivery countries
The proportion of Russia in all imports to Germany in 2024 gave up to a good 0.1 percent – in 2021 it was still 2.8 percent. At the same time, Russia had only a share of 0.5 percent in all goods exports from Germany last year, after 1.9 percent in 2021. From German perspective, Russia slipped 59 of the most important delivery countries in the imports, after 12th place in 2021. Russia was ranked 36 last year, in 2021 it was 15th.
Until the second half of 2022, Russia was still an important energy supplier for Germany. In the past year, Germany from Russia mainly moved metals and chemical products, food and feed. Conversely, Germany mainly provided pharmaceutical and chemical products as well as machines.
The overall EU has also significantly reduced its trade with Russia. The imports decreased from a good 163.6 billion euros in 2021 to 36 billion euros last year. In the case of exports from the EU to Russia, the minus was 64.6 percent within three years. In 2024, the EU exported to Russia for almost 31.6 billion euros.
dpa
Source: Stern
