Exports up by over 2 percent in March

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In March 2023, the total volume of goods exports was up by 2.4 percent year on year, as reported by Statistics Netherlands (CBS). The increase was mainly seen in exports of petroleum products, machinery and appliances, and transport equipment. Exports of chemical and metal products was lower. The volume of goods imports was down by 4.0 percent relative to March 2022.

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

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
2019April1.1
2019May-0.7
2019June-0.2
2019July-1
2019August2.6
2019September0.5
2019October5
2019November1.2
2019December3.3
2020January3
2020February0.8
2020March-5.3
2020April-13.1
2020May-12.1
2020June-3.3
2020July-0.1
2020August-3.6
2020September0.5
2020October2.7
2020November1.3
2020December-0.6
2021January2.6
2021February2.8
2021March10.7
2021April23.7
2021May20.1
2021June12.9
2021July8.9
2021August8.3
2021September4.6
2021October-1
2021November7.6
2021December6.7
2022January0.6
2022February0.8
2022March-0.9
2022April0
2022May2.1
2022June4.9
2022July0.3
2022August-0.2
2022September4.3
2022October8.8
2022November5
2022December4.3
2023January0.9
2023February4.2
2023March2.4

Conditions for exports in May less favourable

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 less favourable than in March. This is mainly because the development of the real effective exchange rate was more unfavourable and producer confidence was more negative in Germany and in the euro area.

 

 

Sources

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