General

Huacheng Import and Export Data Observation reported that the Russian Commercial Representative Office in Berlin quoted the import and export data of the German Federal Statistics Office on the 19th and told RIA Novosti that in the first seven months of this year, Germany’s imports from Russia increased by 32.6% year-on-year, reaching 279%. One hundred million U.S. dollars.

Russia's trade representative to Germany, Andrei Sobolev, said Germany's imports of fuel and energy products rose by 40.5 percent in the year to July. German purchases of Russian gold more than tenfold, while silver imports jumped nearly fivefold. In addition, Germany increased its purchases of metals such as copper, aluminum and nickel from Russia.

The report also showed that Germany’s exports to Russia were $10.2 billion, a 43.6 percent decrease from the same period last year, and Germany’s trade deficit with Russia also increased to $17.7 billion.

The trade representative also said that while German exports to Russia have generally declined, German exports of medicines, seeds and fruit have increased.

According to the latest German import and export data released by the German Federal Statistics Office on September 21, in August, Germany’s exports to Russia fell by 45.1% to 1.2 billion euros. Russia was the 10th largest destination for German exports outside the EU during the month. Before the Russia-Ukraine conflict, Russia was ranked fifth.

According to preliminary statistics, after deducting seasonal factors, compared with July, Germany's exports to countries outside the EU increased by 4.0% in August 2022, reaching 60.3 billion euros.

The United States is Germany's largest export destination. In August 2022, Germany exported goods worth 13.4 billion euros to the United States, a year-on-year increase of 42.3%. Germany exported goods worth 8.9 billion euros to China, up 17.2 percent from the same month last year. German exports to the UK rose 22.6% year-on-year to 5.8 billion euros.

According to Germany's July import and export data released on the website of the German Federal Statistics Office earlier on September 12, Germany's exports totaled 127.6 billion euros that month, an increase of 10.8% over the same period last year. Meanwhile, German exports to Russia fell by 56.8% to 1 billion euros due to the conflict between Russia and Ukraine and German sanctions against Russia. German exports to the United States rose by 14.6 percent to 12.4 billion euros.

In terms of imports, in July 2022, Germany's imports reached 122.7 billion euros, an increase of 26.2% over the same period last year. German imports from Russia rose by 10.2 percent to 2.9 billion euros. Despite the increase in import value, the volume of goods from Russia fell by 45.8% from July last year.

Compared with June 2022, German exports to Russia fell by 15.1% in July, while imports fell by 17.4%.

The German Federal Statistics Office explained that the increase in imports was mainly due to rising prices, especially for energy commodities. German import prices in July 2022 were 28.9% higher than in the same period last year, according to import and export data from the German Federal Statistical Office. Compared with June, import prices will increase by 1.4% in July 2022.

The most important commodities Germany imports from Russia are crude oil and natural gas, with imports rising 1.6 percent to 1.4 billion euros. Other important commodities were coke ovens and petroleum products (up 72.5% to EUR 500 million) and coal (up 108.5% to EUR 300 million).

Germany's trade surplus in July 2022 was 4.9 billion euros, compared with a trade surplus of 17.8 billion euros in July last year. In terms of trade with Russia, in July 2022, Germany's imports to Russia exceeded 1.9 billion euros, compared with 200 million euros in the same period last year.