Outside the dotted line: more favourable than average.
Exports Radar: circumstances less unfavourable
Circumstances for Dutch exports in February 2021 were less unfavourable than in the previous month. Since the publication of the previous Exports Radar, new data have become available for six indicators. Five indicators improved. Circumstances relevant to Dutch exports are largely determined by developments in the main market for Dutch exports - Germany and the eurozone - and developments in Dutch competitiveness. Although the Radar indicators show a strong correlation with export activity, improved circumstances are not necessarily translated into increased exports growth.
Both and European manufacturers were less negative about their foreign orders. Furthermore, producer confidence improved in both Germany and the Eurozone. The year-on-year decline in German manufacturing output was smaller than in the previous month. On the other hand, the rise of the real effective exchange rate was more substantial.
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