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German machinery manufacturing suffers from Ukraine crisis
Date: 2020-10-20 12:58:29Pageviews: 183

It was reported on November 3 that the German machinery manufacturing industry, which had been full of self-confidence, was severely dampened in the Ukraine crisis, and the demand from Russia fell sharply. Russia is the fourth largest export market for German machinery manufacturing in the world. From January to August this year, the German-Russian machinery manufacturing trade volume reached 4.4 billion euros, a decrease of nearly 1 billion euros compared with the same period last year. Due to the economic downturn in Russia, the weak ruble has directly led to a decline in demand from Russia. It is expected that this year's German-Russian machinery manufacturing trade volume will decrease by about 35% year-on-year. The negative impact of the EU sanctions adopted at the end of July this year will continue to amplify in the coming months. The result of the intensification of contradictions will make German machinery manufacturing exports more difficult.