The Ministry predicts the decline of trade between Russia and Germany

The Ministry predicts the decline of trade between Russia and Germany


The two countries ‘ trade for the year will decrease due to the fall in oil prices is the main product that Russia supplies Germany, said the Minister of industry and trade of Russia Denis Manturov.

BERLIN, 9 Nov. Russia’s trade with Germany will be reduced in 2015 compared with 2014, this opinion was expressed by Minister of industry and trade of Russia Denis Manturov in an interview with reporters in explanation of the conference “Russian-German business dialogue”.

“Direct investment of Germany to Russia in the first quarter — $ 580 million-plus (in comparison with last year — ed.). Compared with the previous year, there will be a decrease in turnover, but this is not the only indicator of the health of foreign economic cooperation. Direct investment and the PMI is a very important indicators, which are today considered,” the Minister explained.

“Oil has fallen by half, the main product that we supply here is oil and gas”, — said the Minister causes the fall turnover. Later, speaking at the Moscow economic forum in Berlin, Manturov noted that the trade turnover with Germany has fallen by half because of the imbalance in terms of exports.