German exports to Russia have significantly decreased this year compared to last year, according to the German Federal Statistics Office.
As a result, despite the start of the conflict in Ukraine, Russia will still be a trading partner.
The office explained today that the value of German exports to Russia amounted to 1. 2 billion euros last August, and it decreased by 45. 8% from the level it was in the same month last year.
According to the office data, imports coming from Russia decreased as an important resource for raw materials to Germany last August by 59. 4% in terms of quantity compared to what it was in the same month last year.
According to the office, the value of imports from Russia to Germany declined by 6. 2%, totaling only 2. 7 billion euros.
According to the statistics, if it weren’t for the high costs, particularly in the energy industry, this reduction may have been more obvious in terms of value.
The agency said that the United States of America was the most significant market for German goods, with a 42% increase in exports to that country recorded in August of last year compared to the same month the year before, and a value of 13.3 billion euros.
According to the office, the overall value of German exports in nominal terms in August of last year was 128.7 billion euros, up 23.1% from the same month the year before.
German exports to Russia decreased by 45.8% on a yearly basis in August.
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