Exports up by almost 3 percent in January

As reported by Statistics Netherlands (CBS), the total volume of goods exports grew by 2.7 percent in January year-on-year, while it contracted in the previous month. Exports of petroleum products and machinery increased in particular. On the other hand, exports of electro-technical equipment were down. The volume of imports was 3.8 percent higher than in January 2018.

Overall growth in both imports and exports is affected negatively by a large company which relocated part of its business activities to another country as of October 2018.

The CBS Exports Radar indicates that circumstances for exports in March are somewhat more favourable than in January.

Exports of goods (volume, adjusted for working days) (year-on-year %-change)
Year Month%-change
2015February4.6
March3.5
April5.5
May5.8
June4.9
July5.3
August6.6
September3.5
October5.6
November4.4
December4
2016January4.3
February3.5
March3.7
April5.5
May6.4
June2.4
July2.9
August3
September5.8
October3.2
November6.2
December5.1
2017January1.2
February6.3
March7.9
April0.6
May4.6
June10.6
July7.1
August7.2
September7.8
October7.1
November7
December6.1
2018January5.1
February3
March2.4
April6.7
May4.5
June-0.4
July2.4
August2.6
September2
October1.4
November-0.8
December-1.3
2019January2.7

Conditions for exports in March slightly more favourable than in January

Every month, CBS also publishes updates on the circumstances for exports in the Exports Radar. Conditions are strongly affected by recent developments on the main export markets for Dutch products and by the competitive position of the Netherlands. Although the Radar indicators show a strong correlation with export activity, improved circumstances are not necessarily translated into increased export growth.

According to the CBS Exports Radar, circumstances for Dutch exports in March are somewhat more favourable than in January. This is mainly due to improved development of the real effective exchange rates on an annual basis. In addition, the year-on-year development of the German manufacturing output was less negative. 

Goods exports account for approximately three-quarters of total exports. As for data on exports of services, these are not published monthly. Data on total exports are published quarterly and annually. Figures published in this news release are provisional and subject to revision.

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