Trade between Germany and Russia has plummeted dramatically since the outbreak of the war in Ukraine in February 2022.
According to data released Wednesday by Germany’s Federal Statistical Office (Destatis), German imports from Russia fell by 94.6% in 2023 compared to 2021, amounting to just €1.8 billion (approximately $2.05 billion).
Back in 2021, Germany was still importing €33.1 billion worth of Russian goods, primarily hydrocarbons, industrial raw materials, and chemical products.
However, the implementation of seventeen successive rounds of European Union sanctions—most recently in May 2024—has progressively narrowed the scope for trade with Moscow.
German Exports to Russia Also Tumble
German exports to Russia also took a severe hit, dropping by 71.6% in 2023 compared to 2021, to a total of €7.6 billion.
This sharp decline reflects the combined impact of EU-imposed restrictions, Russian countermeasures, and a broader deterioration in diplomatic relations.
EU-Wide Trends Mirror Germany’s Decline
The trend holds true at the European Union level as well. Across the 27-member bloc, imports from Russia fell by 78% and exports by 65% over the same period.
As a result, the EU’s trade deficit with Russia has collapsed, shrinking from €147.5 billion in 2022 to just €4.5 billion in 2024.
Prior to the war, Russia ranked among the EU’s top trading partners. In 2020, the bloc accounted for 36.5% of Russian imports and 37.9% of its exports, according to the European Commission.
These figures now reflect a major reconfiguration of trade flows amid an increasingly volatile geopolitical landscape.
A Long-Term Economic Decoupling
With the conflict dragging on, the trend toward economic decoupling between Moscow and European capitals appears to be taking root.
The European Union is now turning to alternative sources of supply, particularly in the energy sector, while Russia is deepening its trade ties with China, India, and other non-Western powers.
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