Germany: Exports to Russia in September 2022 down 52.9% YoY, Imports down 37.4%

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  1. as Destatis mentions

    >**The decrease would have been larger without the price increases recorded especially in the energy sector. In volume terms, imports from Russia fell by 66.6% compared with September 2021**

    both exports and imports from Russia went down far more in real terms, due to inflation

    also,in September and October traders were stocking up on Russian oil and oil products in anticipation of the December ban

    November and December statistics will be less optimistic for Russia

    by now,most of the pain on German companies has already occured,as they lost most of their export clients in Russia

    but for Russian companies the pain is just beginning

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