The quantity of commerce between Russia and Germany declined by 22.2 % in 2020, year-on-year, to €44.9 billion ($ 54.four billion), in response to information from the German Committee on Jap European Financial Relations.
The affiliation mentioned the Covid-19 pandemic and political disagreements led to such an enormous discount in commerce turnover between the 2 nations.
“German-Russian commerce was at its lowest stage since 2005,” mentioned Oliver Hermes, the committee’s chairman. “2020 turned out to be a really tough yr not solely due to the coronavirus, but additionally attributable to critical political conflicts which have been noticeably affecting the financial system.”
READ MORE: German enterprise continues to spend money on Russia, regardless of Covid-19 pandemic
German exports to Russia decreased by 13.1 % to €23 billion (round $ 28 billion). Imports from Russia decreased by 29.9 % to €21.9 billion ($ 26.5 billion).
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