The CBS Exports Radar indicates that in May circumstances for exports are less favourable than they were in March.
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Exports and imports
In March, exports to Germany and the United Kingdom were substantially lower than one year previously. This was mainly due ta sharp drop in exports of transport equipment. In terms of imports, petroleum and natural gas from Russia and Norway plummeted in particular.
Conditions for exports in May more unfavourable than in March
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 exports in May are more unfavourable than in March. This is mainly because producer confidence in Germany and the eurozone was down. Furthermore, Dutch and European manufacturers were more pessimistic about their foreign order position. In addition, the year-on-year decline in German manufacturing output was more substantial.