In the first four months of 2015, the value of Dutch exports to Russia amounted to 1.26 billion euros, versus 2.07 billion euros in the same period last year, i.e. a decrease by almost 800 million euros. Exports of machinery and transport equipment fell sharply. Statistics Netherlands (CBS) reported today that other goods categories also showed decline.
Within the space of one year, the Russian share in Dutch exports of goods decreased from 1.43 percent to 0.89 percent. Russia as export destination for the Netherlands fell from 12th to 19th position.
Exports of tractors and cheese fell most dramatically
The category machinery and transport equipment is the largest export category for the Netherlands to Russia. This goods category declined most dramatically. Over the first four months of this year, 473 million euros worth of goods belonging to this category were exported to Russia, versus 890 million euros in the same period in 2014. Exports of tractors, computers and computer components were affected most.
The category natural and food products also declined significantly. The value of exports fell from 497 to 313 million euros within twelve months. Exports of cheese, vegetables and flowers decreased substantially. Russia as export destination for natural and food products fell slightly from 12th position in the first four months of 2014 to 16th position in 2015.
Food and natural products predominantly produced in the Netherlands
Although natural and food products like flowers, vegetables and cheese do not make up a large part of Dutch exports to Russia, the export of these products is relatively important for Dutch economy. A considerable part of these products is produced in the Netherlands, the remaining part concerns re-exports. Exports of products made in the Netherlands are much more profitable for Dutch economy than re-exports of products made elsewhere.
The share of home-made products in the export of natural and food products decreased from 87 to 82 percent within one year. These percentages are significantly higher than the percentages for other goods destined for Russia (60 percent in 2014, 59 percent in 2015).