Fact Check: "Ukraine's monthly trade turnover with Germany briefly overtook Russia's in September 2023."
What We Know
In September 2023, Ukraine's trade turnover with Germany reached approximately 840 million euros, surpassing Russia's trade turnover with Germany, which was about 770 million euros during the same period. This marks a significant shift in trade dynamics, as it is reported to be the first time in history that Ukraine has outperformed Russia in terms of trade with Germany (Yahoo Finance, Ukraine Today). The data was confirmed by Vitaliy Ivashchuk, an economic advisor at the Embassy of Ukraine in Germany, who cited figures from German statistical authorities (Yahoo Finance, Ukraine Today).
Analysis
The claim that Ukraine's trade turnover with Germany briefly overtook that of Russia in September 2023 is supported by multiple sources. The figures provided by Ivashchuk align with the broader context of declining trade between Germany and Russia, which has seen a dramatic reduction in imports from Russia—down by 95% since the onset of the Ukraine conflict (Reuters).
The reliability of the sources is generally high, especially considering that the data originates from German statistical authorities, which are reputable and authoritative in economic reporting. However, it's important to note that the reporting is also influenced by the ongoing geopolitical situation, which could introduce some bias in how trade relationships are portrayed. For instance, the Ukrainian perspective may emphasize this achievement as a sign of resilience and recovery amid conflict, while Russian sources might downplay the significance of these figures.
Furthermore, the context of the trade dynamics is crucial. The decline in trade with Russia is attributed to sanctions and the war in Ukraine, which has led to a reorientation of trade partnerships for Germany, increasingly favoring Ukraine (Yahoo Finance, Ukraine Today). This shift is also reflected in the growing sectors of cooperation, such as energy and technology, which are highlighted by Ivashchuk as areas of potential growth for Ukraine's economy in collaboration with Germany (Ukraine Today).
Conclusion
The claim that Ukraine's monthly trade turnover with Germany briefly overtook Russia's in September 2023 is True. The evidence from reliable sources confirms that Ukraine's trade with Germany reached 840 million euros, surpassing Russia's 770 million euros for the first time in history. This development reflects significant changes in international trade dynamics influenced by the ongoing conflict and sanctions against Russia.
Sources
- Germany's imports from Russia fall by 95% since start of ...
- Ukraine | Kyiv Post
- Ukraine surpasses Russia in trade with Germany for first time
- Get the Latest Ukraine News Today - Kyiv Post
- BREAKING NEWS: Ukraine overtook Russia in trade with ...
- Top News from Ukraine Today - KyivPost
- Germany has become Ukraine's leading trade partner
