Trade surplus rises to record level in 2005

31/01/2006 14:00

The trade surplus of the Netherlands rose to a record level in 2005. If the trend measured in the first eleven months of 2005 continued in December, the surplus on the balance of goods trade will be around 32 billion euro for the whole year. In 2002, 2003 and 2004 the surplus was just over 27 billion euro. In the first eleven months of 2005 the export value of goods was already 30 billion euro higher than the import value. The chemical and food industries accounted for most of the trade surplus.

Trade surplus

Trade surplus for chemical industry: 14.1 billion euro

Manufacturers of synthetic products accounted for a large part of the trade surplus within the chemical industry. In the first eleven months of 2005, the value of synthetic products exported from theNetherlands exceeded imports by 6 billion euro. Exports of organic chemical products were also considerably higher than imports (nearly 4 billion euro). 

Trade surplus for food industry: 12.7 billion euro

Meat, dairy products, vegetables and fruit contributed most to the surplus in thee food sector. In the first eleven months of 2005 the trade surplus for these food products was 8.4 billion euro.

Germany accounts for largest surplus 

The surplus on the balance of trade with Germany is the largest. In the first eleven months of 2005 it amounted to more than 17 billion euro. Three-quarters of this surplus was accounted for by trade in oil products, computers, natural gas and fruit.

Trade surplus with some important trade partners

Largest deficit in trade with China

Trade with China resulted in the largest deficit on the Dutch balance of trade: more than 15 billion euro in the first eleven months of 2005. This deficit was mainly caused by imports of large numbers of computers, telecommunication equipment, electrical machines, clothes and toys. It should be mentioned that most of these products leave the Netherlands again after hardly any or no further processing.

Wiel Packbier