Re-exports and higher prices largely account for growth Dutch exports
The value of Dutch exports of goods reached an unprecedented 431 billion euro in 2012. The exports growth over the past year was largely due to an increase in re-exports and higher prices.
Re-exported products account for two thirds of export value growth
The value of exports was 22 billion euro higher in 2012 than in 2011, an increase by more than 5 percent. More than 3 percent can be attributed to volume growth, higher prices accounted for the remaining 2 percent. Re-exports accounted for approximately two thirds of the 22 billion value growth of exports. Profits on re-exports are relatively low. The remainder concerns exports of products manufactured in the Netherlands. The volume of these products grew by only 0.5 percent.
Trade in mineral fuels increasingly important
The most important export products are mineral fuels, like natural gas, crude oil and petroleum derivatives. Last year, The export value these products amounted to 83 billion euro last year, an increase by more than 15 billion euro relative to one year previously. The value growth of re-exported products was much more substantial than exports of goods manufactured in the Netherlands.
Value of exports by product category, 2011-2012
Trade with non-European countries more important
Outside Europe, trade with Asia (Singapore, China and Taiwan) and Central and South America (Brazil and Mexico) became more important. In the past year, the share in exports growth of non-European countries was doubled to 44 percent. Four of the ten countries with the largest export growth value are European. Exports to Germany, our long-standing most important trading partner, grew most rapidly. The value growth of goods exported to Germany increased by approximately 5.7 billion euro (5 percent). This is mainly due to a considerable growth of re-exported mineral fuels. Exports to the United Kingdom, Belgium and Russia also improved significantly.
Top 10 export destinations with respect to value growth, 2011-2012
Hans Draper and Pascal Ramaekers