Sharp drop in exports to Ukraine and Russia

Container ship in the port
In March 2022, Dutch goods exports to Ukraine plummeted by 84 percent in value year on year. Exports to Russia declined sharply as well, by 67 percent. Statistics Netherlands (CBS) reports this on the basis of newly released figures.

The value of exports to Russia fell by 453 million euros in March while exports to Ukraine were down by 97 million euros.

On the import side, developments in value were less negative to strongly positive. This is related to sharply increased prices of particularly food (e.g. maize and sunflower oil from Ukraine) and mineral fuels (e.g. petroleum and natural gas from Russia). In March, imports from Ukraine decreased by 10 percent in value but by 31 percent in weight. Imports from Russia rose sharply in value (by 115 percent) but hardly in weight.

Developments in import and export value, 2022
 January (year-on-year % change)February (year-on-year % change)March (year-on-year % change)
Exports to Ukraine473-84
Exports to Russia185-67
Imports from Ukraine4857-10
Imports from Russia15392115

Increased import value of Russian mineral fuels dominates

The value of imports from Russia is traditionally high, due to the importance of mineral fuel imports. Furthermore, energy prices surged between 2021 and 2022. Imports from Russia rose from 1.9 billion euros in March 2021 to 4.1 billion euros in March 2022. This is an increase of 2.2 billion euros, of which 1.7 billion euros related to mineral fuels.

Import and export value, March
 2022 (bn euros)2021 (bn euros)
Exports to Ukraine0.020.12
Exports to Russia0.220.68
Imports from Ukraine0.110.12
Imports from Russia4.091.90

Metals from Russia also soaring in price

The value of metal imports from Russia has risen by 0.4 billion euros. Substantial price increases resulted in a higher import value here as well. Nickel (with an import value increase of 128 million euros), copper (122 million), aluminium (82 million) and iron and steel (81 million) already had a significantly higher import value in March 2022 than in March 2021.

In the same period, exports to Russia and Ukraine declined, particularly exports of machinery and appliances, transport equipment and pharmaceutical products. Traditionally, however, Dutch exports to Ukraine are much smaller than to Russia. Dutch imports from Ukraine in March hardly decreased in value due to substantial price increases of Ukrainian food products such as maize and sunflower oil. Only metal ores showed a significant drop in import value.

Selected developments in import and export value, March 2022
 Value (y-o-y change in million euros)
Exports to Ukraine
Machinery and appliances-22.3
Pharmaceutical products-10.8
Transport equipment-6.8
Exports to Russia
Pharmaceutical products-62.3
Transport equipment-65.2
Machinery and appliances-178.6
Imports from Ukraine
Imports from Russia
Nickel (products)128.5
Copper (products)122.3
Aluminium (products)81.6
Iron and steel81.4