Further recovery for exports

31/05/2010 09:30

In March, the volume of goods exports was 14 percent up on twelve months previously. This compares with a 10 percent rise in February, 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 decrease lowed down. December 2009 was the first month to show an increase on one year previously. The volume of exports in March is still just below the level of March 2008.

The volume of goods imports grew by 7 percent in March. The volume of imports is still clearly below the level of March 2008. Volume figures have been corrected for the number of working days.

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

The value of exported goods totalled 32.7 billion euro, i.e. more than 22 percent up on one year previously. The value of imports grew by nearly 17 percent to 28.2 billion euro. This resulted in a trade surplus of 4.5 billion euro, the largest since December 2007.

The value of imports and exports of raw materials and mineral fuels grew substantially. Exports of chemical products also increased considerably.

Just as in previous months, trade with non-EU countries showed a strong rise. For the first time in many months there was also a substantial increase in trade with EU countries.

Partly as a result of higher prices of petroleum derivatives and basic metals, export prices were more than 4 percent higher than twelve months previously. Higher prices for petroleum, petroleum derivatives and basic metals, pushed up import prices by more than 6 percent from twelve months previously. The terms of trade were down on March 2009.

The figures published in this update have been adjusted from those published on 17 May 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.