BERLIN (Reuters), – German exports fell by 57.5% in March to Russia, at 1.1 billion Euros ($1.2 billion), due to sanctions imposed following the invasion of Ukraine. This was according to Germany’s Federal Statistical Office on Thursday.

This fall saw Russia drop to the 12th largest market for German exports outside of Europe, from the fifth position in February.

Russian troops invaded Ukraine during a Russian “special military operations” that took place on February 24. This prompted the West to issue severe sanctions. Export restrictions are also included.

Globally, German exports from countries other than the European Union dropped 7.2% to 52.8 million euros in March. They were however 3.2% more than March 2021.

Germany’s largest export market was the United States. In March goods were shipped to that country worth 13.5 million euros. This is 21% more than one year ago. China exported goods worth 10.2billion euros, which was 1% more than the previous year. Exports to Britain decreased by 0.3%, to 6.4billion euros.

BGA, Germany’s trade association, stated that last month’s survey showed its members expected an economic slowdown because of the Ukraine conflict. But the company supported Russia’s sanctions.

($1 = 0.9214 euros)