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    Germany’s economic analysts and entrepreneurs are seriously concerned with the decline in German exports to Russia

    German Exports to Russia Drop by More Than One Billion Euros Amid Sanctions

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    Germany’s economic analysts and entrepreneurs are seriously concerned with the decline in German exports to Russia, relating them to the anti-Russian economic sanctions.

    Exports of German goods to Russia are constantly decreasing due to Western sanctions, with the dynamics raising alarm among economists, Frankfurter Allgemeine Zeitung reported.

    German exports to Russia fell by "a good billion euros" in January of 2015 — more precisely, by almost 1.44 billion euros or 35.1% compared with the previous year, according to the data of the Federal Statistical Office.

    The last time a decline in exports of this severity was registered back in October 2009, when the global financial crisis broke out, the newspaper wrote. 

    The trend proved unexpected for many analysts. Most of them, however, forecast that the decrease in exports in 2015 is not likely to be so dramatic. Exports to Russia are expected to drop by no more than 15%, with such sectors as machinery and chemical manufacturing being mostly affected.

    Anti-Russian sanctions are considered the main reason for this tendency. They have been imposed by Western countries several times since March 2014 and have had a negative impact on mutual economic relations between the countries.

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    anti-Russian sanctions, exports, Russia, Germany
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