Exports up by almost 3 percent in January

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© Hollandse Hoogte / Peter Hilz
In January 2021, the total volume of goods exports was up by 2.7 percent year on year, as reported by Statistics Netherlands (CBS). In the previous month, exports grew by 7.8 percent. In January, the increase was mainly seen in exports of petroleum products, chemical products and transport equipment. The volume of imports in January was up by 7.2 percent year on year.

The CBS Exports Radar indicates that circumstances for exports in March are virtually the same as in January.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
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
2021January2.3
2021February2.9
2021March10.9
2021April23.8
2021May20.2
2021June13.1
2021July9.4
2021August8.5
2021September5
2021October-0.5
2021November8.3
2021December7.8
2022January2.7

Conditions for exports in March virtually the same as in January

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 March are virtually the same as in January. The year-on-year contraction in German manufacturing output turned into growth, but the development of the real effective exchange rate was less favourable.

From January 2022 onwards, CBS applies new methodology in the monitoring and processing of data for the International trade statistic. As a result, the year-on-year development of imports and exports is surrounded by greater uncertainty than is customary.

Sources

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