Exports nearly 9 percent up in November

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In November 2021, the total volume of goods exports was up by 8.7 percent year-on-year, as reported by Statistics Netherlands (CBS). The increase was mainly seen in exports of chemical products, metal products and transport equipment. Relative to November 2019, exports were 10.2 percent higher. The volume of imports in November was up by 7.9 percent year-on-year and by 9.6 percent relative to November 2019.

The CBS Exports Radar indicates that circumstances for exports January are about as favourable as they were in November.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
'17December6.2
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
2021January2.2
2021February3
2021March11.2
2021April23.8
2021May20.3
2021June13.3
2021July9.5
2021August8.5
2021September4.9
2021October-0.6
2021November8.7

Conditions for exports in January about the same as in November

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 January are about as favourable as they were in November. The year-on-year contraction in German manufacturing output was larger and the development of the real effective exchange rate was less favourable. On the other hand, producer confidence in both Germany and the euro area was more positive in January’s radar, and Dutch manufacturers were more positive 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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