By KYIV. Nov 17 (Interfax-Ukraine) – Russia-Germany trade turnover saw a slight year-on-year decline in value terms from January-September 2022, according to the Center for German Studies at the Russian Academy of Sciences (RAS) Institute of Europe.
"The trade turnover between Russia and Germany decreased insignificantly, by only 2.6%, over the first nine months (EUR 41.6 billion instead of EUR 42.7 billion)," Center experts said in an analytical article published on the Institute of Europe website.
"According to the German Federal Statistical Office, German exports to Russia amounted to EUR 11.6 billion in value terms in January-September, down 40.9% from the respective period of the previous year. Therefore, the imports of Russian goods by Germany grew 29.5% to EUR 30.1 billion," the Russian experts said.
Mineral fuel remains the key factor of Russian exports stability, including the effect of increased prices, the experts said.
A substantial number of German companies that worked with Russia have decided to relocate to the markets of post-Soviet Central Asian countries or broaden their presence in that region, primarily in Kazakhstan, they said.
"Kazakhstan is evolving into Germany’s main foreign economic hub in Central Asia where competition between Russian and German companies will be growing and there will be new opportunities for their cooperation in third markets," the experts said.
