Dutch trade deficit with the US stretches to €16 billion
The Netherlands exported goods worth €28.2 billion to the US in the first three months of this year, while the US exported goods worth €44.4 billion to the Dutch, taking the trade deficit to €16.3 billion, national statistics agency CBS said on Monday.
The deficit is twice as high as a year ago and is largely due to the import of US crude oil and natural gas.
The Netherlands has had a structural trade deficit with the US for years, CBS said, adding that oil and gas imports have become more important since Russia invaded Ukraine in 2022.
US crude oil imports now account for 23% of the Dutch total, making the US the most important supplier. The US is also the biggest supplier of medical instruments, apparatus, and pharmaceutical products to the Netherlands.
Germany, France, Ireland, and Italy all have significant trade surpluses with the US, while Belgium, like the Netherlands, has a deficit.
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