BERLIN, January 24. /TASS/. German exports to Russia plummeted last year to levels not seen since 2003, Reuters reported on Tuesday, citing data from the German Committee on Eastern European Economic Relations.

"German exports to Russia slumped by 45% year-on-year to 14.6 billion euros ($15.9 billion) in 2022, according to preliminary data from the German Committee on Eastern European Economic Relations," Reuters reported.

At the same time, in 2022, imports from Russia rose by 11%, to about 37 billion euros due to high oil and gas prices, the agency added.

"Germany's trade deficit with Russia climbed to a record level of around 22 billion euros as a result," the agency reported, citing the group's executive director Michael Harms

According to him, the plunge in exports to Russia was most visible in motor vehicles and automotive parts, as well as electrical engineering products. Pharmaceutical products and agricultural machinery, sectors which have been excluded from European Union sanctions, remained the top exports.

"The outlook for export business with Russia remains bleak," Harms said.