Germany Grapples With Unprecedented Trade Deficit Amid Russian Energy Crisis ...Middle East

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Germany Grapples With Unprecedented Trade Deficit Amid Russian Energy Crisis
source : OILPRICE ( Middle East ) () 58
Germany is facing severe challenges as its manufacturing output drops, forcing it to import more goods, with strong economic repercussions. Much of this stems from Germany’s reliance on Russian energy, having made a significant attempt to diversify its energy sources over the last year. Oil and gas shortages since the Russian invasion of Ukraine early last year have sent energy prices rocketing and encouraged many companies to move operations to countries with cheaper gas and electricity as well as better energy security, hitting Germany’s…

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