Russia-German Trade Up 25 Percent in 2017

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close-up-of-deutsche-markVladimir Putin has stated that bilateral trade between Russia and Germany reached US$40.7 billion last year, with some US$18 billion directly invested by German companies in Russia. 2017 has shown bilateral trade between the two countries growing at at 25 percent.

President Putin stated that “More than 5,000 enterprises with the participation of German capital operate in Russia employing 270,000 Russian citizens. The turnover of those companies exceeds US$50 billion. Despite all existing challenges in the political area, the economic relations with the Federal Republic of Germany are not fading away. Although China has outpaced Germany in terms of trade turnover with Russia, the latter still takes a significant share of Russia’s trade.”

German companies have been operating under sanctions imposed by the European Union and the United States since 2014. These are due for revision in January 2018. The German national football team has qualified for the World Cup Soccer Finals to be held in Russia next June, and thousands of Germans are expected to travel to watch matches. Germany will be joined by numerous other EU nations in watching the finals, including Belgium, England, France, Poland, Portugal, and Spain, with four other qualifying EU nations still yet to be decided. The U.S., meanwhile, has failed to qualify for the tournament finals.

 

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