In the period May–December 2004 the value of imports from the ten new EU member states increased by 40 percent. The value of exports rose by 30 percent. In the period January–December 2004 the value of imports rose by 33 percent and the value of exports by 23 percent. Dutch trade with the new EU member states has increased substantially since they joined the EU in May 2004.
Trade with the new EU member states
Share in total trade increased in 2004
In 2004 goods worth 6.3 billion euro were imported from the ten new EU member states, 33 percent up on 2003. Exports grew by 23 percent to reach 9.3 billion euro. Yet the share of the ten in total Dutch trade in goods is fairly limited: the share of imports is only 2.7 percent, the share of exports 3.6 percent.
Exports to the new EU member states
Poland most important trading partner
Eighty percent of Dutch goods trade goes to Poland, the Czech Republic and Hungary. Poland is the most important of the three. Imports from Poland increased by 20 percent to 2.0 billion euro in 2004, exports to Poland amounted to 3.2 billion euro, 17 percent up on 2003. The Czech Republic accounted for the most substantial absolute increase in imports and exports since May 2004.
Trade with the Czech Republic
Brisk trade in computers and microprocessors
Computers make up nearly 20 percent of imports from the new EU member states. Main suppliers are the Czech Republic, Hungary and Slovakia. These computers are in most cases (re-)exported. The import of agricultural produce grew by 0.5 billion euro, most of it came from Poland.
Microprocessors make up over 15 percent of exports to the newcomers. Most microprocessors are re-exported to the Czech Republic and Hungary.