End of an era: Trade between Germany and Russia practically ceased

Imports of German goods to Russia fell by 91.0 percent in February this year compared to a year earlier, and German goods exports to Russia fell by 60.5 percent.. In February of this year, the value of merchandise imports exceeded German merchandise exports against Russia by about 0.3 billion euros, while the import surplus last February was still 3.7 billion euros.

Imports of Russian crude oil and natural gas decreased from 2.2 billion euros in February 2022 to only 4.2 million euros in February 2023, which represents a decrease of 99.8 percent. Imports of coke and petroleum products decreased by 91.4 percent from 353 million euros to 30 million euros, and coal imports decreased by 92.5 percent from 347 million euros to 26 million euros.

In February this year, Germany imported crude oil and natural gas worth 6.0 billion euros, coke and petroleum products worth 2.2 billion euros, and coal worth 700 million euros, much more than last year.

In February of this year, German goods exports to Russia amounted to 0.8 billion euros, 60.5 percent less than the 2.1 billion euros in February 2022. Thus, the balance tilts by 0.5 billion euros in favor of German exports. In February last year, imports still exceeded exports by 1.6 billion euros.

Cover image: Getty Images

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