Wednesday 23 September 2020

Dutch export growth slows to 7% in July as imports rise by 6%

Rotterdam docks. Photo: VDW via Depositphotos.com

The export of goods from the Netherlands slowed to 7% in July year-on-year, down considerably from the 11% increase recorded in June, which was the biggest gain in 6.5 years.

Export growth in July was largely due to higher sales of electro-technical equipment and cars. Both the exports of Dutch goods as well as the re-export of goods was higher than a year ago. Imports rose by 6% in July, the national statistics office CBS said on Tuesday.

The CBS publishes a forecast each month for export conditions in its ‘export radar’.  The conditions are determined largely by developments in the biggest export markets and the Netherlands’ competitive position.

However, the indicators in the radar do not necessarily mean higher export growth, the CBS warned. The September export radar is less favourable than it was in July.

The export of goods accounts for roughly 75% of the total export figure. The CBS does not publish monthly services export figures: these are reported on a quarterly and annual basis.

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