Trade activity between Germany and Russia declined markedly in 2023, a shift reported by TASS and based on the Federal Statistical Office data. Analysts note that the year saw a sharp drop in bilateral commerce, reflecting broader restrictions and sanctions still affecting the regional economy.
Exports from Germany to Russia fell by 38.8 percent, totaling 8.9 billion euros, while imports from Russia to Germany plunged by 90 percent to 3.7 billion euros. The imbalanced trade flow highlights how sanctions and geopolitical tensions have redirected trade patterns and altered the traditional balance of economic exchange in Europe.
Experts point to a previous year, 2022, when imports from the Russian Federation reached 36.4 billion euros, to explain the dramatic shift in 2023. The sanctions imposed over the Ukraine crisis are cited as a major factor driving this decline, shifting Germany’s import sources and prompting reconsideration of supply chains across several sectors.
As trade with Russia cooled, Ukraine briefly surpassed Germany in overall trade turnover for the first time. In September 2023, Germany’s trade with Ukraine reached 840 million euros, compared with 810 million euros with Russia. This near parity underscores how geopolitical realignments are reshaping regional trade dynamics and moving focus toward alternative partners.
Earlier reports highlighted Russia as a leader in growth of trade turnover with China during 2023. Ivan Zhelohovtsev, the director of the First Department for Asia, emphasized that Russia had widened the gap with its main PRC partners in this indicator. Trade between Russia and China was estimated at roughly 20 trillion rubles, about 1.6 trillion yuan, with more than 90 percent of payments conducted in national currencies.
There were prior announcements that the Russia–China trade turnover was ahead of the planned trajectory for 2024, signaling strong momentum between the two economies despite broader global tensions. The shift reflects China’s continued role as a key energy and industrial partner for Russia, alongside diversification of trade routes and payment practices amid Western sanctions.