For decades, Germany has been considered one of the leading industrial and export nations . This is possible not only because of its documented inventive talent, but above all because of good relations with other nations and with important trading partners. We give an overview of the current German-Russian economic relations.
An important advantage of Germany is that the country is located in the heart of Europe. As a transit country, the Federal Republic thus brings with it the best prerequisites for entering into dialogue with its partners from near and far.
One economic relationship that repeatedly makes the headlines is the German-Russian relationship. This is particularly important because Russia is one of Germany’s most important suppliers of raw materials. Many branches of industry in Germany depend on raw material and energy supplies from Russia. For this reason, it is usually quickly reflected in share prices when once again alleged tensions between the two nations make the rounds.
In fact, the lack of gas deliveries is repeatedly used as a means of exerting pressure. However, most of this is within the perfectly normal framework of bilateral economic policy. The fact is that both Germany and Russia attach great importance to a stable economy and strong partners. Recent years have clearly shown that the other can basically be relied upon.
An overview of German-Russian economic relations in 2021: Exchange at a high level
Both Russia and Germany are nations that can look back on a long history. Since the collapse of the Soviet Union, not only Russian politics but also style, especially that of the chic St. Petersburgers and Muscovites, has been moving ever closer to the West. In fact, even during the times of the Cold War, people were already doing business with each other. Russia’s resources are too important and the largest country on earth has, for example, enough natural gas to trade it with partners worldwide.
Unfortunately, despite the many ongoing treaties, not all differences seem to have been overcome. For example, German citizens are still required to have a visa to enter Russia. Although the cultural exchange between the nations is increasing more and more, it seems to be neglected that tourism and the freedom of movement between the states would once again significantly improve communication.
German-Russian economic relations in 2021: What goods does Germany export to Russia?
Many German goods now go to Russia. This is also shown by the steady increase in Russian translations over the years. This does not only refer to vehicle technology made in Germany, but above all to high technology such as special screws, steel alloys or plastic substitutes. A very concrete example, which proves how far advanced the relations are, are the investments of German companies in Russia . Russia is becoming increasingly popular as a business location. In return for the concessions made to German companies, they expect know-how and hope for new technologies in the country.
Efforts like these show that cooperation and economic relations will even expand in the near future. The countries are growing closer together and mutually benefiting from each other’s progress. This can also be a basis for improving the often strained political relations between them.