Statistics Netherlands (CBS) reports that the volume of exports of goods was 3.7 percent up in October 2015 from October 2014. Growth was somewhat higher than in the preceding month, when exports grew by 1.5 percent. In October, exports of petroleum derivatives and chemical products grew most noticeably. Statistics Netherlands’ Exports Radar shows that circumstances for Dutch exports in November and December were more or less the same as in October. The volume of imports was 8.4 percent up in October from one year previously.
More petroleum derivatives and chemical products exported
In October 2015, Dutch businesses mostly exported more petroleum derivatives and chemical products. Exports of Dutch products as well as re-exports were higher. Exports of machines, on the other hand, were down in October. Last week, Statistics Netherlands reported that year-on-year output realised by the machinery industry had declined just as in the previous two months.
Circumstances for Dutch exports the same in December as in October
Statistics Netherlands’ Exports Radar shows that overall circumstances for Dutch exports are the same in December as they were in October. Circumstances relevant to Dutch exports are largely determined by developments in the main markets for Dutch exports – Germany and the eurozone – as well as developments in the Netherlands’ competitive position. The development in exchange rates on an annual basis was much more favourable in December than in October. In contrast, German manufacturing output growth was lower while producer confidence in Germany and the rest of Europe was also at a lower level.