The volume of trade of the eastern lands of Germany with Russia from 2013 to 2019 fell by 39.6%, and the western – by 20.6%

The volume of trade of the eastern lands of Germany with Russia from 2013 to 2019 fell by 39.6%, and the western – by 20.6%

The volume of trade of the eastern lands of Germany with Russia from 2013 to 2019 fell by 39.6%, and the western - by 20.6%

Trade turnover between Russia and the eastern lands of Germany in recent years has decreased to a greater extent than with the western ones. This follows from the data of the Eastern Committee of the German Economy, Deutsche Welle reports. From 2013 to 2019, this figure in the five East German states (excluding Berlin) decreased by 6.9 billion euros or 39.6%, and amounted to 10.6 billion In the West German regions during the same period, the figure reached 47.2 billion euros, a decrease by 12.2 billion or 20.6%.

The decline in trade turnover is most noticeable in Saxony (minus 70.8%), and least of all in Mecklenburg-Western Pomerania (minus 6.8%).

According to the committee, the volume of exports of products from the East of Germany to Russia fell by more than a third (37.4% or 1 billion euros), to 1.6 billion.In imports, the decline is more noticeable – 39.9% or 5.9 billion euros. to 8.9 billion.At the same time, the export of goods from West German lands to the Russian Federation decreased by almost a quarter (24.9; or 8.2 billion euros), amounting to 24.8 billion, while imports decreased by 15.2% or 4 billion euros, up to 22.3 billion.

The EU sanctions against Russia, which came into force in 2014, “certainly complicated” Berlin's trade with Moscow, said committee chairman Oliver Hermes. The expert attributed to other negative factors in the long term low oil prices, the ruble exchange rate and the generally low dynamics of the conjuncture.

And this year, the consequences of the crisis caused by the SARS-CoV-2 coronavirus are “extremely noticeable” in bilateral trade. So, in the first half of 2020, trade between Germany and the Russian Federation fell by 24%, amounting to 22 billion euros. Thus, Russia has become only the fourth trade partner of Germany in this indicator after Poland, the Czech Republic and Hungary.

The Eastern Committee of the German Economy is critical of possible new penalties against Moscow, in particular, those that could affect the construction of the Nord Stream 2 gas pipeline.

The Eastern Committee of the German Economy represents the interests of German companies operating in the markets of Eastern Europe and post-Soviet countries. The aim of the association is to promote German business in 29 countries of Central, Eastern and Southeastern Europe, the South Caucasus and Central Asia.

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