Imports from US are mainly oil, gas and services
In addition to US imports that are further processed by Dutch firms, some US imports are destined for direct consumption in the Netherlands (10.5 percent) or for re-export (37.5 percent).
| For processing into goods for domestic consumption (bn euros) | For processing into products for export (bn euros) | For direct domestic consumption (bn euros) | For direct export (bn euros) | |
|---|---|---|---|---|
| Goods imports | 6.3 | 15.3 | 6.8 | 24.3 |
| Services imports | 9.3 | 17.7 | 3.0 | 10.7 |
| *provisional figures | ||||
Imports of US natural gas have risen sharply
More than 40 percent of the goods that the Netherlands imports from the US are processed by Dutch companies to make new products, most of which are exported. Crude oil is the most important commodity by far to be imported from the US: in 2023, US crude oil imports were worth 7.7 billion euros. This is refined into fuels and other petroleum products in the Netherlands, which are then used by the chemical industry and plastics industries to make products. Around 90 percent of those products are then exported.
Liquefied natural gas (LNG) also makes up a significant share of imports that are further processed in the Netherlands. In 2023, the Netherlands imported 7 billion euros’ worth of LNG from the US. This is used in a range of industrial processes, such as fertilizer production.
| Goederen | Processed for domestic consumption (mln euros) | Processed into products for export (mln euros) |
|---|---|---|
| Crude oil | 771.8 | 6742.2 |
| Natural gas | 2804 | 4038.1 |
| Machinery and equipment | 207.1 | 776.4 |
| Coal | 148 | 316.1 |
| Medicinal and pharmaceutical products | 280.1 | 96.1 |
| Computers, laptops, tablets | 144.9 | 222.1 |
| Sawn wood and wood waste | 140.1 | 159.4 |
| Medicines | 252.5 | 15 |
| Alcohols, phenols and derivates | 10.4 | 229 |
| Optical instruments and devices | 38.4 | 139.1 |
| *Provisional figures | ||
Fees for the use of intellectual property are a major component of services imports
Two-thirds of the services that the Netherlands imports from the US are used by Dutch companies in their own production processes. Fees for the use of US intellectual property, such as patents and software licenses, constitute the largest amount by value. These fees totalled 8.9 billion euros in 2023. This category is therefore the main cause of the Netherlands' significant trade deficit with the US in services.Energy sector is the most reliant on goods imports from the US
Dutch energy companies are the most dependent on goods imports from the United States: nearly half of the goods they import come from the US. Other sectors also lean heavily on US imports. For example, the oil-refining industry relies on the US for over 20 percent of its goods imports, while in agriculture the share is nearly 23 percent.
When it comes to services imports, companies active in the film, television and radio sector, and rental companies for moveable goods are the most reliant on the US. For these sectors, almost 40 percent of services imports come from the US. Although the pharmaceutical industry is not among the top five largest importers of US goods and services, the US does play a major role in it: one-third of imported services in that sector are of US origin.
| Bedrijfstak | US share of imports (%) |
|---|---|
| Goods | |
| Energy companies | 48.9 |
| Agriculture | 23.0 |
| Oil-refining industry | 21.9 |
| Chemicals industry | 14.6 |
| Machinery and equipment industry | 12.5 |
| Services | |
| Film, television and radio | 38.8 |
| Rental of moveable goods | 37.8 |
| Wholesale and commission trade | 16.3 |
| Legal and management consultancy | 16.1 |
| IT and information services | 15.6 |
Possible EU import tariffs would mainly affect consumer products
The European Union is considering imposing import tariffs on a range of US products, particularly consumer items such as bourbon whiskey, corn, playing cards, clothing, cranberries and jewellery. Aluminium, metal products and trucks are also on the list of possible retaliatory import tariffs.In 2023, the Netherlands imported 843 million euros’ worth of these products from the US. Looking at the total import value for that year, the scale of the proposed import tariffs would be limited, affecting less than 1.6 percent of all goods imports from the US. Nevertheless, these import tariffs could lead to an increase in prices for these products, which could have an adverse effect on both consumers and specific firms.