Russia-Germany trade turnover falls to lowest level in 16 years
The association said the Covid-19 pandemic and political disagreements led to such a massive reduction in trade turnover between the two nations.
“German-Russian trade was at its lowest level since 2005,” said Oliver Hermes, the committee’s chairman. “2020 turned out to be a very difficult year not only because of the coronavirus, but also due to serious political conflicts that have been noticeably affecting the economy.”
German exports to Russia decreased by 13.1 percent to €23 billion (around $28 billion). Imports from Russia decreased by 29.9 percent to €21.9 billion ($26.5 billion).
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