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German exports to Russia and China are declining

Due to the war and the strict corona policy, Germany exports much less to both countries. Conversely, exports to other countries are booming.

German exports in

Russia also declined significantly in October due to the war in Ukraine. Compared to the same month last year, exports fell by a good 59% to 1.0 billion euros, the Federal Statistical Office announced on Monday. Russia still ranked 12th among the most important destinations for German exports outside the EU. In February 2022, before the attack on Ukraine, Russia was in 5th place.

Exports to China are also down. They decreased by a good eight percent year-on-year to 8.6 billion euros. The strict crown policy in the People’s Republic, in which there are always severe blockades, has long been a burden on trade with the Far East.

On the other hand, exports to the United States, the most important destination for German exports, increased by a good 28 percent in October. German exporters benefit from the weak euro against the US dollar, which makes goods cheaper for buyers in the US. There was also significant growth in exports to Great Britain in one year (up 10.2 percent).

After calendar and seasonal adjustments, exports to non-EU countries overall decreased by 1.6% compared to the previous month to 61.2 billion euros. Compared to the same month last year, there was a good 15% increase. “This increase in value should also be seen against the backdrop of sharply rising foreign trade prices,” the statisticians explained.

Due to the war and the strict corona policy, Germany exports much less to both countries. Conversely, exports to other countries are booming.

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