BERLIN (Realist English). Despite Western sanctions and a mass exit of companies from Russia, by the end of May, export from Germany to Russia started to grow, evidenced by data from the Federal statistical office.
Due to the first Western sanctions in March, German exports to Russia fell by almost 60%, and 9.9% in April. But in May it grew again by 29.4%, reaching €1 billion.
The statistical office explained that the growth was primarily associated with pharmaceutical products, which were not sanctioned, and the effect was further enhanced due to the increase in its cost.
Imports from Russia declined by 9.8% to 3.3 billion euros in May 2022 from April 2022. The lion’s share is made up of energy resources and raw materials. After calendar and seasonal adjustment, Germany exported goods to the total value of 125.8 billion Euros and imported goods to the value of 126.7 billion Euros in May 2022. The foreign trade balance showed a deficit of 1.0 billion Euros in May 2022.
By the end of May, most of the German exports went to the United States, increasing by 5.7% to €13.4 billion. Exports to China increased by 0.5% to €8.7 billion, and to Britain decreased by 2.5% to €5.8 billion.
