German imports from Russia fell in May by 17.3% compared to April, down 92.6% compared to last year, according to the latest data published by Germany’s Federal Statistical Office (Destatis), cited by Interfax.

As for German exports to Russia, they decreased by 7.4% compared to April and reached 700 million euros, which is 34.4% less compared to the same period last year.

The largest decrease occurred in January-May of this year after the introduction of new sanctions against Russia at the end of last year.

The latest package of sanctions, the 11th imposed by the EU bloc against Moscow over the war in Ukraine, was agreed on June 23, after the 10th was approved on February 24, a year after the invasion of Ukraine began.

Gazprom, Germany’s largest supplier of natural gas before the war, cut off all gas supplies to its European partner via the Nord Stream 1 pipeline on September 2, nearly four weeks before the explosions that damaged the pipelines at the bottom of the Baltic Sea.

What does the trade balance look like for Germany, the country with the largest economy in the EU

Around the world, Germany’s total exports, adjusted for calendar and seasonal factors, fell 0.1% in May from the previous month, fueling fresh fears that the recession in which the German economy has been mired could extend.

On the other hand, the volume of German imports increased by 1.7%.

Exports of German goods to EU countries fell in May by 1.5% compared to April, while deliveries to countries outside the EU bloc increased by the same amount. Exports to China increased by 1.6%, to Great Britain by 5.6%, and to the USA fell by 3.6%.

Germany’s foreign trade surplus was 14.4 billion euros in May, compared with 16.5 billion euros in April, which is now the lowest since last December.

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