Dutch exports to China and the US fell last year but rose to Taiwan, Italy, and Germany, according to new figures from national statistics office CBS.

Imports and exports both rose 1.4% in value terms last year, with exports hitting €655 billion and imports €582 billion, the CBS said.

In the case of both imports and exports, lower prices were offset by higher volumes. Some €7.9 billion of the €8.8 billion increase in exports was down to growth in re-exports rather than production in the Netherlands.

The US and China both imported significantly fewer goods and products from the Netherlands. In the case of the US, exports of refined petroleum products fell sharply, while China’s decline was due to fewer specialised machinery and semiconductor exports.

Meanwhile, the value of exports to Taiwan increased by over €2.6 billion. In particular, Taiwan imported more specialised machinery for semiconductor production.