Dramatic downturn trade with Libya

08/11/2011 15:00

The Arab League currently comprises 22 Arab nations. Dutch trade with member state Libya dropped most dramatically. In the first six months of 2011, trade with the Arab League made up 3.6 percent of the total value of Dutch imports and 2.1 percent of the total value of Dutch exports.

Substantial growth trade with Saudi Arabia, Algeria, Qatar and Iraq

In the first half of 2011, the overall value of trade with Libya was 129 million euro, no less than 71 percent down from the same period in 2010, when the value of trade with Libya amounted to 447 million euro. On the other hand, trade with Saudi Arabia, Algeria, Qatar and Iraq grew more rapidly. This is due to the high price level for petroleum in 2011. Trade with these countries mainly consists of imports of energy products like crude oil. The soaring oil price accounts for a significant increase in the value of imports from these countries.

Dutch trade deals with Arab countries, first half of 2011

Dutch trade deals with Arab countries, first half of 2011

Nearly half of Arab trade with three countries

Trade with Saudi Arabia, Algeria and the United Arab Emirates accounts for 49 percent of Dutch trade with Arab countries. In the trade with the United Arab Emirates, exports of machinery and transport equipment are more important than imports of oil. On the list of most important Arab trading partners, Libya has dropped from eighth place in 2010 to fourteenth place in 2011.

Value Dutch trade deals with Arab countries, first half of 2011

Value Dutch trade deals with Arab countries, first half of 2011

Oil price plays major role in imports from Arab countries

The value of imports from Arab countries is predominantly dictated by the oil price. Crude oil accounts for more than half of imports from Arab countries, but other mineral fuels also play an important part. One quarter of Dutch crude oil imports comes from countries in the Arab region, but with 36 percent, Russia is the major oil supplier for the Netherlands.

Import value and oil price, first six months

Import value and oil price, first six months

Diverse range of export products to Arab countries

The range of products exported to Arab League nations is very diverse in comparison to the limited range of imported products. Machinery and transport equipment (35 percent) and food and drinks (21 percent) are the most frequently exported products.

Range of products exported to and imported from Arab countries, first half of 2011

Range of products exported to and imported from Arab countries, first half of 2011

Pascal Ramaekers