International trade in services on the increase

25/10/2004 10:00

In the first six months of 2004 the value of international trade in services showed an increase by about 3 percent on one year previously. The value of imports and exports rose more or less at the same rate as statistics recently introduced by Statistics Netherlands show.

In the first six months the Netherlands bought services worth 27.1 billion euro in other countries and sold services worth 27.7 billion euro to foreign customers. Transport and tourist traffic services are the most important service categories.

International trade in services, first six months

International trade in services, first six months

Mainly transport and tourist traffic services imported

In the first six months of 2004 the value of import of services increased by 0.9 billion euro, a rise by more than 3 percent, compared to the same period last year; 44 percent is directly or indirectly related to transport and tourist traffic. The value of transport services imported amounted to 5.6 billion euro in this period, 0.5 billion euro in excess of the same period in 2003. The import of tourist traffic services increased by 0.6 billion euro to 6.3 billion euro in the first six months of 2004. The import of other services was reduced by 0.2 billion euro.

Import of services, first six months of 2004

Import of services, first six months of 2004

Export of services

In the first six months of 2004 services sold by the Netherlands to other countries exceeded last year’s value in the first six months by 0.7 billion euro, an increase by almost 3 percent. The export of transport services rose by 0.8 billion euro to 7.4 billion euro. The export of tourist traffic services maintained the level of one year previously at 3.8 billion euro. The total value of other services also hardly changed. Over 40 percent of the export of services is related to transport and tourist traffic.

Export of services, first six months of 2004

Export of services, first six months of 2004

Trade balance tourist traffic services further in decline

Tourist traffic services have shown a considerable deficit for a long time now because the total amount Dutch tourists spend abroad by far exceeds the amount spent by foreign tourists in the Netherlands. In the first six months of 2004 the deficit was 2.5 billion euro. The deficit over the corresponding period in 2003 was 1.8 billion euro.

Share of services stable

In the first six months of 2004 the Netherlands imported goods and services worth 133 billion euro and exported goods and services worth over 151 billion. Imported services accounted for 20 percent of total Dutch imports in this period, exported services accounted for 18 percent of total Dutch exports. The share of imported and exported services remained unchanged compared to the same period last year.

Ivana Gomes Durão