Exports up by over 4 percent in October

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In October 2020, the total volume of goods exports was up by 4.1 percent year-on-year, as reported by Statistics Netherlands (CBS). This is the largest growth so far this year. Exports of chemical and agricultural products and exports of machinery and appliances increased in particular. The volume of imports was 0.3 percent lower year-on-year.

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

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
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-13.3
2020May-11.8
2020June-3.2
2020July-0.3
2020August-3.6
2020September0.5
2020October4.1

Conditions for exports in December less unfavourable than in October

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 December are less unfavourable than in October. This is mainly because the year-on-year decline in German manufacturing output was smaller. Furthermore, 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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