Exports growth marginally up

In August 2013, the volume of exports of goods was 2.5 percent up from August 2012. Exports growth was marginally higher than in the preceding three months. The volume of imports shrank by 2.3 percent in August, almost the same as in July. Volume figures have been adjusted for the number of working days.

The value of exported goods totalled 33.4 billion euros, i.e. a 2.7 percent decrease from twelve months previously. The value of imported goods decreased by 8.1 percent to 30.0 billion euros, the most substantial decline in terms of percentage since November 2009. The trade surplus amounted to 3.4 billion euros, an increase of 1.7 billion euros compared to August 2012. Value figures have not been adjusted for calendar effects. August 2013 had one working day less than August 2012.

The value of exports of chemical products plummeted. The value of imports of raw materials and mineral fuels was considerably lower than twelve months previously, in particular the value of imports from non-EU countries.

Just as in the preceding five months, import and export prices were below the level of one year previously. Import and export prices fell by 3.3 and 2.5 percent respectively. As a result, terms of trade improved  relative to August 2012.

According to October’s Exports Radar, improvements outnumbered deteriorations. Circumstances for Dutch exports were considerably more favourable than in September.

Exports of goods (volume adjusted for working days)