Page 60 - RusRPTFeb23

● Partners & regions
German exports to Russia nearly halved in 2022 to levels not seen since 2003, Reuters reported on January 24. German exports to Russia fell by 45% y/y to €14.6bn ($15.9bn) in 2022, according to preliminary data from the German Committee on eastern European Economic Relations. Imports from Russia, however, grew by 11% to about €37bn due to high oil and gas prices, the group said in its report. Germany’s trade deficit with Russia climbed to a record level of about €22bn as a result, the group’s executive director Michael Harms said. The plunge in exports to Russia was most visible in motor vehicles and automotive parts, as well as electrical engineering products, Harms added, while pharmaceutical products and agricultural machinery, sectors which have been excluded from European Union sanctions, remained the top exports.
Russian-Chinese trade turnover will reach $200bn “ahead of schedule,”
President Vladimir Putin said during a videoconference with Chinese leader Xi Jinping on December 30 as Moscow’s isolation from the West over its invasion
60 RUSSIA Country Report February 2023 www.intellinews.com