Trade with US: imports down sharply in 2002

02/12/2002 10:00

The value of Dutch exports to the United States (US) has grown annually in the last five years. Imports from this country also rose until 2002. In the first nine months of 2002, however, the import value is 17 percent lower than in the same period last year, a fall of just over 2.7 billion euro.

Trade with the US in the first nine months

US largest export market outside the EU

The value of goods exported to the US rose by 6 percent in the first nine months of 2002, to 8.3 billion euro. This makes the US the largest buyer of goods from the Netherlands outside the EU. In the first nine months of 2002 exports of cameras and beer in particular rose strongly. The value of nearly all the main export products rose further in 2002.

Imports down sharply in 2002

At 13.6 billion euro, the value of imports in the first nine months of this year was substantially lower than in the same period last year. Imports of motorcycles and measuring, control and analysis instruments in particular dropped sharply.

Dutch trade with some countries

US third place with regard to imports

In spite of the fall, America is still an important supplier of imported goods to the Netherlands. In terms of import value in the first nine months of 2002 the US is in third place, after our neighbours Germany and Belgium. The Germans account for 19 percent of Dutch imports, Belgians 11 percent and Americans 9 percent.

Trade since September 2001

Both the value of imports from and exports to the US were around 20 percent lower in September 2001 than one year previously. Since then imports have continued to fall, while exports have recovered. Statistics Netherlands figures do not reveal whether, and if so to which extent, the events of 11 September have had an effect on Dutch trade with the US. In Augustus 2001, for example, imports were also lower than twelve months previously.

Evrim Onat and Cor Pierik