Flourishing trade with Germany
A rapid growth in exports and imports also reflects Russia’s growing importance in the global economy. As such, the latest figures show a rise in Russian exports by almost 34 percent to a total of 217.5 billion US dollars, with imports up nearly 31 percent to 87.5 billion US dollars. Machinery and other technical plant and equipment top the list of what was delivered to Russia, with German companies accounting for a substantial share of that total. At which point it should be borne in mind that Germany is Russia’s most important partner in trade: in 2005, Russian exports to Germany amounted to some 30 billion Euros, amounting to more than 10 percent of the country’s overall foreign trade. By comparison, Germany’s overall export volume to Russia came to more than 38 billion Euros over the same period of time, corresponding to an increase of 20 percent versus 2004 – and to the fact that Russia also ranks as the no. 1 country in Germany’s export trade with countries in central and eastern Europe. And here again, the Russian Federation’s demand for machinery, plant and equipment, vehicles, but also for foodstuffs from Germany, is particularly great.