Economy - Imports Russia, Saxony-Anhalt: Almost come to a standstill
Imports of goods from Russia to Saxony-Anhalt have come to an almost complete standstill this year. According to figures from the Ministry of Economics in Magdeburg, the value of imported goods fell by 99.1 percent. According to a spokesperson, this was mainly due to the fact that for the first time this year no crude oil and natural gas was imported into Saxony-Anhalt from Russia. A ban on the import of Russian oil into the EU came into force on January 1.
The energy-intensive chemical industry in particular, which is so important for Saxony-Anhalt, suffered from the import ban. Although natural gas and crude oil could be imported from other countries, costs also rose by eleven percent. According to the ministry, the main supplier countries this year were Norway, the United Arab Emirates and Great Britain. Overall, significantly more crude oil and natural gas was imported. The Leibniz Institute for Economic Research (IWH) in Halle also came to the conclusion at the end of September that the more significant decline in gross domestic product (GDP) in Saxony-Anhalt compared to the rest of Germany was probably mainly due to the problems in the chemical industry.
However, there are still some imports from Russia. According to figures from the Federal Statistical Office, goods worth around 23 million euros were imported from Russia to Saxony-Anhalt until October of this year. In 2022 as a whole, this figure was almost 3.65 billion euros, including oil and gas imports. The most important imported goods were mainly raw rubber and aluminum products, according to a spokesperson for the Ministry of Economic Affairs.
The development is not entirely new. Just ten years ago, imports from Russia were even higher. In 2012, goods worth 6.4 billion euros were imported. Last year, the figure was almost half that at 3.6 billion euros. The value of goods exported also fell significantly. While goods worth more than 432 million euros were exported to Russia in 2013, only 122 million euros were exported in the first nine months of this year. For the first time, however, higher values of goods were exported to Russia than imported.
IWH on GDP in Saxony-Anhalt
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- Despite the ban on Russian oil imports into the EU, there are still some significant imports of goods from Russia to Saxony-Anhalt, primarily raw rubber and aluminum products.
- The energy-intensive chemical industry in Saxony-Anhalt, a crucial sector for the region, has been affected by the import ban on Russian oil.
- Prior to the import ban, Russia was a significant supplier of crude oil and natural gas to Saxony-Anhalt, with imports worth around 6.4 billion euros in 2012.
- A local company in Saxony-Anhalt, Leuna Chemical Complex, is heavily reliant on energy, and the rise in costs due to importing from alternative countries has impacted its operations.
- The EU's trade with Russia, particularly in the chemical industry, has been significantly altered due to the import ban, with the European Union and other countries stepping up to meet the demand previously supplied by Russia.
Source: www.stern.de
