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situation report

Aug 25, 2015 | 08:33 GMT

1 min read

Germany: Exports To Russia Post Steep Decline

German exports to Russia decreased by almost 31 percent yearly in the first half of 2015, down to around 10.5 billion euros (roughly $12.11 billion), according to an Aug. 25 report from the German statistical office, Die Welt reported. The Eastern Committee of German Industry now expects exports to Russia for the whole year to be half of those in 2012. German trade with Russia had already decreased in 2013 due to weaknesses in the Russian economy, the report said, and they declined further in 2014 due to Russia’s sanctions on European products. Russia is facing a perfect storm of an economic crisis.

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