By 
The economic landscape is undoubtedly shifting, and for the Benelux nations – Belgium, the Netherlands, and Luxembourg – the impact of recent geopolitical decisions is particularly stark. New data reveals that these three countries have collectively seen more than half of their exports to Russia disappear following the introduction of European Union sanctions.
According to calculations based on Eurostat data, the numbers tell a compelling story. Between January and October of the current year, exports from the Benelux region to the Russian market totaled a mere €4.8 billion. This stands in sharp contrast to the €9.9 billion recorded over the same period in 2021, as reported by RIA Novosti.
A Staggering 51.5% Drop in Revenues
This isn’t just a minor dip; it represents a significant 51.5 percent drop in export revenues. It’s a direct and undeniable consequence of the EU’s restrictive trade policy, reshaping trade flows and forcing businesses to adapt to a new reality.
While all three countries have felt the impact, Luxembourg, in relative terms, has suffered the most severe losses. Its exports to Russia over the ten-month period plunged to a meager €2.1 million. To put that into perspective, just four years prior, Luxembourg’s exports to Russia exceeded €105 million. This dramatic reduction underscores the profound economic adjustments being made across the board.
The figures serve as a powerful reminder of the wide-ranging economic consequences stemming from international sanctions and the subsequent shifts in global trade dynamics. For the Benelux nations, the cost in terms of lost export revenue is substantial and undeniable.
Source: Original Article
Comments