German exports to Russia fell 57.5% in March

Germany’s exports to Russia fell 57.5 percent to 1.1 billion euros ($1.2 billion) in March due to sanctions imposed on Moscow after its invasion of Ukraine, the German Federal Statistics Office said on Thursday.

This pushed Russia down from the fifth largest market for Germany outside the European Union in February to the 12th place in March.

Germany’s total exports to countries outside the European Union fell 7.2 percent to 52.8 billion euros in March, compared to the previous month. But it rose 3.2 percent from its March 2021 level.

The United States remains Germany’s largest export market, with 13.5 billion euros worth of goods shipped there in March, up 21 percent from a year earlier.

Exports to China amounted to 10.2 billion euros, down 1 percent from a year ago. Exports to Britain fell 0.3 percent to 6.4 billion euros.