Exports up by over 10 percent in March

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© Hollandse Hoogte / Peter Hilz
In March 2021, the total volume of goods exports was up by 10.4 percent year-on-year, as reported by Statistics Netherlands (CBS). This is the highest growth since July 2017. The increase was mainly seen in exports of machinery, transport equipment and agricultural products. The volume of imports in March was up by 10.9 percent year-on-year.

The CBS Exports Radar indicates that circumstances for exports are more favourable in May than they were in March.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
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
2020January3.2
2020February1
2020March-4.7
2020April-12.7
2020May-11.6
2020June-2.9
2020July0
2020August-3.4
2020September0.8
2020October2.7
2020November1.3
2020December-0.8
2021January3.3
2021February3
2021March10.4

Conditions for exports more favourable in May

Every month, CBS also publishes updates on the circumstances for exports in the Exports Radar. Conditions are largely determined by developments on the main export markets for Dutch domestic products and in 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 favourable than in March. All indicators improved significantly. Producer confidence in both Germany and the eurozone increased. Furthermore, the year-on-year decline in German manufacturing output changed into growth. The increase in the real effective exchange rate was less substantial. European manufacturers were less pessimistic about their foreign orders, while Dutch manufacturers were positive about their foreign orders for the first time since August 2018.

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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