exports grow by 1.3 percent in March

The volume of exports of goods was 1.3 percent up in March 2014 from March 2013. Exports growth was in the same order of magnitude as in February. Due to the relatively mild weather conditions in the first months of 2014, the foreign demand for natural gas was considerably lower. This slowed down exports growth. The volume of imports of goods grew by 3.8 percent in March. In February, imports had grown a modest 0.3 percent. Volume figures have been adjusted for the number of working days.

The value of exported goods totalled 37.5 billion euros, i.e. 1.6 percent down from one year previously. The value of imported goods rose by 0.5 percent in March to 32.6 billion euros. As a result, the trade surplus amounted to 4.9 billion euros, i.e. 0.8 billion euros down from March 2013.

The trade value of imports and exports of mineral fuels dropped significantly relative to twelve months previously, but the trade value of manufactured products was substantially higher. The value of trade with EU-countries declined somewhat. Exports to non-EU countries fell substantially, but imports from non-EU countries were up from twelve months previously.

In March, import and export prices were below the level of one year previously. Export prices declined by 2.9 percent, import prices by 3.2 percent. As a result, terms of trade improved somewhat compared to March 2013.

By means of six indicators, the Exports Radar shows whether circumstances for Dutch exports have become more or less favourable. According to May’s Export Radar, circumstances for Dutch exports deteriorated marginally relative to the preceding month.

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.