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German crude imports fell 2 percent
in the first eight months of 2020 compared to a year earlier, official data showed Wednesday as the coronavirus crisis and related shutdowns hit industrial activity.
Monthly data released by the Foreign Trade Office of BAFA of Germany's Federal Economic and Export Control Agency showed that the total amount of oil arriving in Germany from January to August was 55.
9 million tons, down from 57 million tons
in the same period in 2019.
Germany, which is reportedly in the midst of a severe recession, is battling
state spending aimed at offsetting the effects of the viral pandemic.
This has helped trigger a modest recovery, but the economic outlook is uncertain
due to the surge in new infections.
Russia accounted for 34.
5% of Germany's oil revenue in January-August, followed by the UK and Norway with 22.
9%, while imports from OPEC members accounted for 17.
2%.
The rest include other sources
, including the United States.
In the past eight months, Germany has spent 15.
9 billion euros on crude oil imports, 35.
4%
less than in the same period last year (market prices are much higher).
German crude imports fell 2 percent
in the first eight months of 2020 compared to a year earlier, official data showed Wednesday as the coronavirus crisis and related shutdowns hit industrial activity.
Monthly data released by the Foreign Trade Office of BAFA of Germany's Federal Economic and Export Control Agency showed that the total amount of oil arriving in Germany from January to August was 55.
9 million tons, down from 57 million tons
in the same period in 2019.
Germany, which is reportedly in the midst of a severe recession, is battling
state spending aimed at offsetting the effects of the viral pandemic.
This has helped trigger a modest recovery, but the economic outlook is uncertain
due to the surge in new infections.
Russia accounted for 34.
5% of Germany's oil revenue in January-August, followed by the UK and Norway with 22.
9%, while imports from OPEC members accounted for 17.
2%.
The rest include other sources
, including the United States.
In the past eight months, Germany has spent 15.
9 billion euros on crude oil imports, 35.
4%
less than in the same period last year (market prices are much higher).
