16 July 2019
The German economy is growing, exports to Russia tooAccording to the Federal Statistics Office of Germany, in May, exports and production in the country increased slightly.
Exports rose by 1,1%. In total, Germany exported goods worth € 113.9 bn (+ 4.5% compared to May 2018) and imported € 93.4 bn (+ 4.9%). Foreign trade surplus amounted to € 20.6 bn (+ € 600 Mio).
In May, German exports to Russia grew by 15,2% to € 2.43 bn. In the first five months, it increased by 4,1% to € 10.93 bn. In turn, Russian imports decreased by 13,8 % in May, up to € 2.54 bn, due to seasonal and calendar factors. The fall in imports from January to May is estimated at 2,9%, to € 14.1 bn.
Source: Reuters (German), Destatis (German), Statistics (PDF), Finmarket (Russian), Forex (Russian)