Germany-Russia Trade 2023: Collapsed dream of change through trade

Germany-Russia Trade 2023: Collapsed dream of change through trade

According to a report by www.businessinsider.de, German-Russian foreign trade collapsed sharply in 2023. Imports from Russia have fallen by 90 percent, while exports have fallen by 39 percent. Overall trade has therefore fallen by almost 80 percent, which has led to Russia's insignificant position in German foreign trade. In addition, Germany suddenly achieved an export surplus in trade with Russia.

These developments have a direct impact on the market and the financial industry. The collapse of German-Russian trade has largely severed economic ties and Germany has increased its focus on exports to Russia's neighboring countries. This could indicate that Germany is trying to circumvent sanctions against Russia. The figures from the Federal Statistical Office confirm the dramatic impact on trade between Germany and Russia.

The former hope for “change through trade” with Russia has collapsed, and alienation between the countries has increased, influencing international financial policy. Due to the decline in trade with Russia, Germany has now achieved an export surplus, which, however, is hardly significant compared to Germany's overall foreign trade surplus. These shifts in German-Russian trade could also have long-term effects on overall trade and financial relations between Germany, Russia and other countries.