Further recovery for exports

27/04/2010 15:00

In February, the volume of goods exports was 11 percent up on twelve months previously versus 8 percent in January, but it should be taken into account that the substantial downturn in exports started in November 2008. In the first six months of 2009, the volume of exports dropped by a dramatic 11 to 15 percent. Subsequently, the decline became smaller and smaller. December 2009 was the first month to show an increase on one year previously. The volume of exports in February is still just below the level of February 2008.

The volume of goods imports grew by more than 4 percent in February. The volume of exports is still clearly below the level of February 2008. Volume figures have been corrected for the number of working days.

According to the Exports Radar for April 2010, conditions for Dutch exports have improved compared to the previous month. Since May 2009, the situation has picked up gradually after a long period of deterioration.

The value of exported goods totalled 28.0 billion euro, i.e. 13 percent up on one year previously. The value of imports grew by nearly 9 percent to 24.0 billion euro. This resulted in a trade surplus of 4.0 billion euro, 1.3 billion euro more than in February 2009.

The value of imports and exports of raw materials and mineral fuels grew substantially. Exports of machinery and transport equipment also increased considerably. Exports to non-EU countries increased much more than exports to EU countries. Import figures show a similar pattern.

Partly as a result of higher prices of petroleum derivatives and chemical products, export prices were nearly 2 percent higher than twelve months previously. Higher prices for petroleum and petroleum derivatives, caused import prices to rise by 4 percent relative to one year previously. The terms of trade of foreign goods deteriorated compared with February 2009.

The figures published in this update have been adjusted from those published on 13 April 2010. The revision is based on new and more detailed information.

Goods exports (volume)

Goods exports (volume)

More figures can be found on the theme page International trade.