The value of Dutch food exports to Russia almost came to a standstill after the trade barriers between the Russian Federation and the European Union became effective. Exports of machinery and equipment also declined. In the period August-November 2014, the overall value of exports to Russia was reduced by 8 percent to 2.2 billion euros. During the first seven months of 2014, the value of exports to Russia was reduced by 9 percent to 3.7 billion euros as Statistics Netherlands announced today.
Export products hit by Russian import ban comes to virtual standstill
In August 2014, the Russian government imposed an import ban on meat, dairy, fish, vegetables and fruit from all EU member states. Since then, the value of exports of these products has plummeted from 200 million euros in the period August-November 2013 to 28 million euros in the same period in 2014. It concerns goods not produced in the EU, but exported through the Netherlands (re-exports).
Situation unfavourable for Dutch cheese exporters
The Russian demand for Dutch cheese had risen in recent years. Over the period 2009-2013, the export value of cheese had tripled to 233 million euros. After the import ban on Dutch cheese took effect, the export value fell by 96 million euros, i.e. 56 percent of the total export slump of goods affected by the Russian import ban.
Limited effects Russian boycott; food sector bears brunt of Russian sanctions
Apart from the food sector, the value of exports fell by 10 million euros over the first four months. The value of exports of machinery and equipment decreased most dramatically, but the value of exports of chemical products increased. Machinery and equipment account for approximately 80 percent of dual-use goods, chemical products for 10 percent.
Export machinery and equipment substantially down
In the period January-July 2014, the value of exports of machinery and equipment to Russia fell by 15 percent to 1.6 billion euros (-273 million euros). During the period August-November 2014, the value of exports declined by 7 percent to 1 billion euros, i.e. 75 million euros below the level recorded in the same period in 2013. The value of machinery exports to Russia declined each month in the period January-November 2014, except in April.