Exports down by 4.5 percent in November

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© Hollandse Hoogte / Peter Hilz
In November 2023, the total volume of goods exports (adjusted for number of working days) was down by 4.5 percent year on year, as reported by Statistics Netherlands (CBS). Export volumes of food, beverages and tobacco as well as chemical products were lower in particular. The volume of goods imports was down by 5.5 percent relative to November 2022.

The CBS Exports Radar indicates that conditions for exports in January are more unfavourable than in November.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
December3.3
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
2023April0.2
2023May0.4
2023June-0.6
2023July-3.7
2023August-1.6
2023September-4.5
2023October-7.4
2023November-4.5

Conditions for exports more unfavourable in January

Every month, CBS also publishes updates on the conditions for exports in the Exports Radar. Conditions are largely determined by developments in the key export markets for domestic exports and in the competitive position of the Netherlands. Although the Radar indicators show a strong correlation with export activity, improved conditions do not necessarily mean higher export growth.

 According to the CBS Exports Radar, conditions for exports in January 2024 are more unfavourable than in November 2023. This is mainly because opinions of Dutch and European manufacturers about their foreign orders were more unfavourable and the year-on-year contraction in German manufacturing output was larger.

Sources

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