Dutch exports growth remains low

The volume of goods exports grew by 2 percent in September compared with twelve months previously. The increase in exports thus remains low for the third successive month. The volume of imports grew by 3 percent in September, almost the same as the growth rate in the three preceding months. Volume figures are adjusted for the number of working days.

The value of exported goods totalled 35.1 billion euro, i.e. nearly 1 percent less than twelve months previously. The value of imports rose by nearly 1 percent to 31.5 billion euro, resulting in a trade surplus of 3.6 billion euro. This is 0.4 billion euro less than in September 2011. The value figures are not been adjusted for calendar effects. September 2012 had two working days fewer than September 2011.

The value of both imports and exports of raw materials and mineral fuels grew substantially in September compared with twelve months previously. Higher oil prices played an important part in this respect.

The value of exports to non-EU countries increased, while exports to EU countries decreased. Imports show the opposite pattern.

Export and import prices were respectively 2.9 and 3.1 percent higher than one year previously. As a result, the terms of trade deteriorated slightly compared with September 2011.

Circumstances for Dutch exports have deteriorated according to November’s Exports Radar.  In October, export conditions had also worsened.

Exports of goods (volume adjusted for working days)

Exports of goods (volume adjusted for working days)

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

For more information on economic indicators, see the Economic Monitor.