35. Trade liabilities

Trade liabilities declined by €110 million, from €4,892 million to €4,782 million.

In the METRO Wholesale segment, a national legislative change in Russia caused a decline of €159 million. In addition, currency effects reduced trade payables by a further €51 million, with the Turkish lira and Chinese renminbi accounting for the largest share. The acquisition of Pro à Pro had a counteracting effect of €99 million.