German exports to Russia drop by half in May

FRANKFURT – Germany’s exports to Russia slumped 50 percent in May compared to the same month last year, as a result of the war and sanctions prompting businesses to cut their ties, Germany’s statistics office reported Tuesday.  

The 50 percent decline left total exports at € 1.1 billion, compared to €0.8 billion in April, when the annual decline was 64.1 percent.

In May, Russia was ranked 10th among the most important destinations for German exports outside the EU — a drop in ranking from February, when it was fifth.

Germany’s top trading partner in May outside the EU was the United States, with exports totalling €13.6 billion.

This article is part of POLITICO Pro

The one-stop-shop solution for policy professionals fusing the depth of POLITICO journalism with the power of technology

Exclusive, breaking scoops and insights

Customized policy intelligence platform

A high-level public affairs network