Exports drop sharply but retail sales continue to rise

Lower demand for oil products and gas helped drive down Dutch exports by 2.8% in May, their biggest drop in four and a half years, the national statistics office CBS said on Tuesday.

May’s drop follows several months of marginal growth. Exports are one of the main drivers of the Dutch economy.

In value terms, exports were down 4.8% on the year while imports were down 1.1%, taking the trade surplus to €3.3bn, down €1.4bn on May 2013.

Retail sales, however, continue to rise, the CBS said. Shop sales were up 0.9% on May 2013. Prices were down slightly but volume sales were up. Food, drink and tobacco sales were up 2%.

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