Berlin (dpa) – German exports to Russia have collapsed at the beginning because of Western sanctions and political uncertainty.
Exports shrank in January compared to the same month last year of 2.22 billion to 1.44 billion euros, as is evident from the Federal Statistical Office.
This is a decrease of about 35 percent. Suffer Exports German companies in the Ukraine. They went from 321 million euro in January 2014, only 194 million euro back -. A drop of nearly 40 percent
The Chairman of the Eastern Committee of German Economy Eckhard Cordes, said the record-breaking fall show that the German-Russian economic relations would be faced with a large stress test.
“The political crisis as a result of the conflict Ukraine proposes flow through to the economy and the mutual economic relations.” For the policy which should be a signal, “the diplomatic efforts for rapid defusing the conflict continue to uphold”
For the next few months Cordes not expect any improvement in the trade. Old orders are processed, new transactions are carried the ruble weakness and the difficult economic sanctions. “Russian companies come only with difficulty in obtaining loans, German companies are reluctant to invest.” Last year, the German-Russian exports were already decreased by about 6.5 billion euros, the total EU exports by 16 billion.
Overview of sanctions against Russia at the Federal Office of Economics and Export Control
GTAI to Russia sanctions
Arms Export government report 1st half 2014
arms export report of the Federal Government in 2013
VDMA to Russia sanctions
ZVEI release exports in 2014
GTAI to the Russian economy, Stand November 2014
Questions & amp; Answers (Q) of the BDSV