Russia Sold Oil, Gas Worth $15.6Bln To Germany In First 9 Months Of 2021 - Trade Envoy

Faizan Hashmi Published November 30, 2021 | 12:44 PM

Russia exported oil and gas worth 13.8 billion euros ($15.6 billion) to Germany in the first three quarters of 2021 as rising energy prices boosted bilateral trade to pre-pandemic levels, Russian trade representative in Germany, Andrey Sobolev, told Sputnik

BERLIN (UrduPoint News / Sputnik - 30th November, 2021) Russia exported oil and gas worth 13.8 billion Euros ($15.6 billion) to Germany in the first three quarters of 2021 as rising energy prices boosted bilateral trade to pre-pandemic levels, Russian trade representative in Germany, Andrey Sobolev, told Sputnik.

"Traditionally, the largest trade volumes between Russia and Germany are oil and gas. Naturally, it is 100% Russian exports, which are estimated to be 13.8 billion euros over the three quarters of 2021. The currently rising energy prices are, of course, facilitating the growth of this item of our trade balance, which has almost reached the levels of the first three quarters of the pre-pandemic 2019," Sobolev said.

Speaking about the most actively developing areas of trade, the official singled out mining, specifically Russia's exports of ferrous and nonferrous metals, which almost tripled in the first nine months compared to the same period in 2020, reaching 508.

4 million euros.

Russian exports also stimulated partnership in the woodworking, metallurgy, chemical and food industries, as well as in the construction materials industry. At the same time, the imports from Germany account for the increased trade in transport vehicles that are not cars, such as aircraft, ships and trains, as well as beverages, textile and tobacco.

Accordion to Sobolev, the reboot of trade is largely due to both countries intensifying their economic activity and trying to get things back to normal as much as possible after the 2020 lockdowns.

As the COVID-19 pandemic was unfolding last year, many countries adopted severe restrictions to stop the virus from spreading, which disrupted global trade and incurred significant losses in the process.