The value of exports to the United States (US) declined last year, mainly caused by sluggish exports of petroleum derivatives and lower export prices. Despite the decline, the US still remained the most important trading partner outside Europe for the Netherlands in 2013.
Less petrol exported to the US
The value of exports to the US amounted to 16.8 billion euros in 2013, versus 20.2 billion euros in 2012, i.e. a reduction by 17 percent, partly due to lower exports of petroleum derivatives like petrol. The value of exports of petrol was down by more than a quarter last year.
The extraction of shale gas in the US is one of the main reasons for the slump in exports of petroleum derivatives. Shale gas enables American companies to reduce production costs. Lower export prices also contribute to the reduced exports value.
Value of exports to US
Value of exports varies considerably
Over the period 2000-2007, the value of goods exported to the US grew fairly steadily from more than 10 to more than 17 billion euros. Over the next two years, exports declined. In 2011 and 2012, the value of exports rose rapidly to approximately 20 billion euros.
US important trading partner for manufacturing industry
Machinery and transport equipment, mineral fuels and chemical products are the main export products to the US. The share of these export products made up more than 70 percent of total exports to the US. The US is an important trading partner in manufacturing industry, e.g. metal, chemical and high tech products.