Wednesday, October 20, 2021

Russia-Germany Trade On New High; How Much More Can It Scale?

Russia-German trade revenue climbed by 25% in the first eight months of 2018 according to briefs prepared for the upcoming visit of Russian President Vladimir Putin to Istanbul for the quadrilateral summit.

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The Kremlin’s press service reported that “In January-August 2018, the Russian-German trade was boosted by 24% compared with the same period in 2017 to $39 billion. Russian exports to Germany rose by 35% to $22.1 billion, while imports grew by 12% to $16.9 billion. The total amount of German investments accumulated in the Russian Federation exceeds $18 billion, while Russian investments in Germany stand at $8.1 billion.

Meanwhile, the trade turnover between Russia and France added 22.5% in January-July period of 2018 year-on-year, while the Russian-Turkish bilateral trade went up by 30% in first eight months of this year, the documents for the summit said

The Russian President Vladimir Putin will head to Istanbul for the quadrilateral summit on the Syrian settlement along with French President Emmanuel Macron, German Chancellor Angela Merkel and Turkish President Recep Tayyip Erdogan, for a number of bilateral meetings between the leaders on Saturday.

On the other hand, Germany imported 23 per cent more natural gas in August than 2017, pushing year-to-date imports at the end of August to 3.5 million Terajoules or 99.6 billion cubic metres (cbm) ahead of winter. Germany mainly imports gas from Russia, Norway, the Netherlands, Britain and Denmark. German importers, however, paid 30 per cent more for gas up to August highlighting the energy imbalance have driven up prices and trading volumes in all three markets.

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