Oct 29, 2014 7:10 AM
German exports to Russia fall sharply in August
The Associated Press
BERLIN (AP) German exports to Russia dropped by more than a quarter in August over the same month a year ago as sanctions over Ukraine took an increasing toll.
The Federal Statistical Office said Wednesday that German exports to Russia dropped 26.3 percent in August to 2.3 billion euros ($2.93 billion).
Over the first eight months of 2014, exports to Russia fell 16.6 percent to 20.3 billion euros, led by a 22.6 percent drop in machinery deliveries.
Russia was Germany's 11th biggest market in 2013 but slid to 13th in the first eight months of 2014.
Germany has overall been suffering from weak demand for its goods from the rest of Europe and China, where growth is also slowing.
Chancellor Angela Merkel says it's up to Russia how long sanctions will continue.