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. Last Updated: 07/27/2016

German Imports Plummet 53%

WIESBADEN, Germany -- German exports to Russia plunged 53 percent on year in the fourth quarter, limiting overall export growth to one percent and capping a continuous fall throughout the year, the Federal Statistics Office said Monday.

In the first quarter of 1998, German exports rose 15.5 percent year-on-year. They rose 9.6 percent in the second quarter, 2.9 percent in the third quarter, and one percent in the fourth quarter.

For 1998 on the whole, German exports grew 6.9 percent year-on-year to 950 billion marks ($529.5 billion), the office said.

Imports showed the same weakening trend, falling 0.7 percent in the fourth quarter after a 2.2 percent rise in the third quarter, a 7.3 percent rise in the second quarter and a 12.2 percent rise in the first quarter.

Imports rose 5.4 percent for full-year 1998 on the year to 814 billion marks, the statistics office said.

Russian imports to Germany in the fourth quarter fell 21 percent on the year, the office said. For all of 1998, imports from Russia rose 14 percent.