Exports down by almost 1 percent in July

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© Hollandse Hoogte / Peter Hilz
In July, the total volume of goods exports (adjusted for number of working days) fell by 0.9 percent year on year, as reported by Statistics Netherlands (CBS). The contraction was virtually the same as in the previous month. The decrease in July was mainly seen in exports of metal and chemical products. Exports of machinery and appliances were higher. The volume of goods imports was up by 2.2 percent relative to July 2022.

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

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
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
2023April-0.5
2023May-0.2
2023June-1
2023July-0.9

Conditions for exports more unfavourable in September

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 September are more unfavourable than in July. This is mainly because producer confidence in Germany deteriorated and the year-on-year growth in German manufacturing output turned into contraction. Confidence and opinions about foreign orders of European manufacturers also deteriorated. 

Sources

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