Exports down by nearly 3 percent in June

© Hollandse Hoogte / Marco van Middelkoop luchtfotografie
In June 2020, the total volume of goods exports shrank by 2.9 percent year-on-year, as reported by Statistics Netherlands (CBS). The contraction was much lower than in April and May. Exports of transport equipment, metal products and petroleum products decreased in particular. Domestic exports contracted more significantly than re-exports. The volume of imports was 4.0 percent lower year-on-year. This contraction was also much lower than in April and May. In June, imports of transport equipment declined in particular.

The CBS Exports Radar indicates that in August circumstances for exports are less unfavourable than they were in June.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
2016July2.9
2016August3
2016September5.8
2016October3.3
2016November6.4
2016December5.3
2017January1.6
2017February6.8
2017March8.3
2017April0.7
2017May4.6
2017June10.7
2017July7.1
2017August7.3
2017September7.9
2017October7
2017November7.1
2017December6.2
2018January4.8
2018February4.3
2018March3.1
2018April6.2
2018May5.3
2018June0.4
2018July2.7
2018August4
2018September3
2018October3.4
2018November0.4
2018December0.6
2019January2.2
2019February-0.3
2019March1.5
2019April1.7
2019May-0.1
2019June0.7
2019July-0.1
2019August3.4
2019September1.4
2019October6.3
2019November2.3
2019December4.5
2020January3.9
2020February1.7
2020March-4.6
2020April-12.6
2020May-11.4
2020June-2.9

Conditions for exports in August less unfavourable than in June

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 August are less unfavourable than in June. This is mainly because the year-on-year decline in German manufacturing output was less substantial. Furthermore, producer confidence in Germany and the eurozone 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.

Sources

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