In July 2009, Dutch terms of trade of imported and exported goods deteriorated marginally relative to July 2008. Prices of imported and exported goods were 11.3 and 11.7 percent down respectively on one year previously. July was the fourth month in a row, in which terms of trade deteriorated.
The decrease in import prices in July was partly caused by a slump in prices of petroleum and petroleum derivatives compared with one year previously. The drop in export prices was mainly the result of lower prices for petroleum derivatives and natural gas.
More information on terms of trade can be found in the article "Changes in the terms of trade in goods".
Changes in terms of trade