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1 March 2019

Review of Economic Relations Between Russia and Germany in 2018

The Federal Republic of Germany is the largest trading and economic partner of the Russian Federation among countries of the European Union. The share of Germany in the foreign trade turnover of Russia in 2018 amounted to 8.7%. By volume of bilateral trade in 2018, Russia was not among the TOP-10 of Germany trade partners with the share in Germany total trade turnover of 2.2%.

 

Breakdown of Annual Rates of Bilateral Trade between Russia and Germany

 

December 2018

January-December 2018

Aggregates of Russia and Germany trade

€3.81 billion

€52.5 billion ↑ 19.3%

Import from Russia to Germany

€1.98 billion

€30 billion ↑ 32.5%

Export from Germany to Russia

€1.83 billion

$22.5 billion ↑ 5.3%

 

Germany Foreign Economic Activities Review

As a whole, foreign trade turnover in Germany in 2018 amounted to €2 407 billion (+4.2% as compared to 2017), 54.7% of which was export and 45.3% – import.

The basis of Germany goods export is: equipment, machines, motor vehicles and parts, chemical industry products. Business and freight services form the basic part of Germany service export structure.According to results of 2018, Germany export came up to €1 317 billion (+3% as compared 2017). Russia purchased in Germany the following: machines, equipment, chemical industry products, vehicles, plastics, natural rubber, resin elastic, tools, devices, clocks and watches, metals and metal products, food products, beverages, tobacco, books, paper, cardboard, organic products and other manufactured goods.

Computer engineering, vehicles, chemicals, fuel and energy commodities, metals, electrical equipment, pharmaceuticals, foodstuffs, agricultural goods represent the basis of Germanys import. Germany import in terms of cost value is €1 090 billion, which is 5.7% more than in the same period in 2017. In Russia Germany purchased mineral products, metals and metal products, chemical industry products, machines, equipment, various technical devices, jewels, wood and wood products, and other goods.

 

According to the review prepared by the German office of the Ministry of Economic Development of the Russian Federation, it is strategically important to implement tasks of industrial upgrading and improving of competitiveness, and cooperation between Russia and Germany bearing in mind that Germany is one of the world leaders in this area.