Trade between Germany and Russia fell by almost 7 percent year-on-year to 58 billion euros ($62.6 billion) in 2019, the German Committee on Eastern European Economic Relations (OAOEV) said in a press release on Friday
BERLIN (Pakistan Point News / Sputnik - 21st February, 2020) Trade between Germany and Russia fell by almost 7 percent year-on-year to 58 billion Euros ($62.6 billion) in 2019, the German Committee on Eastern European Economic Relations (OAOEV) said in a press release on Friday.
According to the committee, German exports to Russia grew by 2.6 percent to 26.5 billion euros, while German imports from Russia were down 13.2 percent to 31.2 billion euros.
"Despite a bright spot in exports, we still cannot get anywhere near the potential of economic cooperation between Germany and Russia. We need to relax politically and overcome sanctions," OAOEV chief Oliver Hermes said.
Hermes explained that the fall of German imports from Russia was due to disruptions of the Druzhba pipeline oil supplies and lower energy prices.
