Exports down by nearly 1 percent in July

© Hollandse Hoogte
In July 2020, the total volume of goods exports shrank by 0.6 percent year-on-year, as reported by Statistics Netherlands (CBS). The contraction was lower than in the previous four months. In July, exports of metal and chemical products decreased in particular. Exports of machinery and appliances grew the fastest. The volume of imports was 4.1 percent lower year-on-year.

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

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
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-12.8
2020May-11.5
2020June-2.6
2020July-0.6

Conditions for exports in September less unfavourable than in July

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 September are less unfavourable than in July. 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 again less negative and Dutch and European manufacturers were less pessimistic about their foreign orders.

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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