Exports almost 1 percent up in May

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© Flip Franssen/Hollandse Hoogte
In May, the total volume of goods exports was up by 0.8 percent year on year, as reported by Statistics Netherlands (CBS). The increase was mainly seen in exports of transport equipment, machinery and appliances. Exports of chemical and metal products were lower. The volume of goods imports was down by 3.0 percent relative to May 2022.

The CBS Exports Radar indicates that circumstances for exports in July are more unfavourable than in May.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
2019June-0.2
2019July-1
2019August2.6
2019September0.5
2019October5
2019November1.2
2019December3.3
2020January2.8
2020February0.5
2020March-5.6
2020April-13.3
2020May-12.2
2020June-3.4
2020July0
2020August-3.6
2020September0.5
2020October3.1
2020November1.7
2020December-0.2
2021January3.8
2021February3.9
2021March12.7
2021April25.8
2021May22.4
2021June14.5
2021July11
2021August10.1
2021September6.9
2021October1.5
2021November8.9
2021December8.6
2022January1.2
2022February1
2022March-0.1
2022April-0.3
2022May2.3
2022June5.2
2022July0.5
2022August-0.3
2022September3.3
2022October8.4
2022November4.4
2022December4.3
2023January2.3
2023February4
2023March3.1
2023April0.4
2023May0.8

Conditions for exports in July more unfavourable

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 July are more unfavourable than in May. This is mainly because the development of the real effective exchange rate was more unfavourable and producer confidence in the euro area and in Germany was more negative. Opinions of Dutch and European manufacturers about their foreign orders also deteriorated.

Sources

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