Economy

Russian consumers save less and consume more

The weak ruble and a higher inflation makes that the Russians are saving less but consume more. This new trend is documented by the Russian Ministry of Economic Development in a report for the period January-February 2014. Consumer reaction is reminiscent of the beginning of the crisis in 2008. [...]

Russia is third largest market for German machine tool industry

Demand for machine tools is still big in Russia, but the country relies on imports of such equipment. German manufacturers keep a solid market share and exported in 2013 for 518 million euro to Russia – a fact which of course influences the German industry regarding their attitude towards [...]

Estimation: Russia will export over 1 million new cars a few years

Experts from the consultancy firm KPMG estimates that Russia’s car exports will grow strongly in the coming years – from 142,600 cars in 2013 to over one million in a few years, the news service  St. Peterburger Herold writes. Last year Russia exported around 142,600 new cars, the [...]

Russia: Ruble exchange rate and stock market indices plunge

The exchange rate of the Russian ruble was noted on Monday at a historical low. At the same time the country’s two main stock market indexes were plunging between 9 and 12 percent earlier today. The crises in Ukraine and the Crimea Peninsula is considered to be the main reason for this [...]

Russian Ruble Rate declined dramatically during the weekend

Russia’s national currency has during the past months declined by 10-15 percent compared to most other currencies. The devaluation continued over the weekend with increased pace. The latest official listing of the euro exchange rate through the Russian central bank was at 49.59 rubles for 1 [...]

Trade between Russia and Germany declined in 2013

After a record high volume of 80.5 billion Euros in 2012, the German trade with Russia decreased significantly over the past year to 76.5 billion Euros. The figures were published by the so-called German Committee on Eastern European Economic Relations based on updated figures from the German [...]
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