Outside the dotted line: more favourable than average.
Exports Radar: circumstances improved
Circumstances for Dutch exports in September 2019 improved. Since the publication of August’s Exports Radar, new data have become available for six indicators. According to September’s Exports Radar, five indicators improved and one did not change. Circumstances relevant to Dutch exports are largely determined by developments in the main market for Dutch exports - Germany and the eurozone - and developments in Dutch competitiveness. Although the Radar indicators show a strong correlation with export activity, improved circumstances are not necessarily translated into increased exports growth.
The development of the real effective exchange rates improved. In addition, the year-on-year decline in the German manufacturing output was less substantial. Producer confidence in the eurozone and Germany was also less negative. The opinion of manufacturers in the eurozone about their foreign orders also improved. The opinion of Dutch manufacturers about their foreign orders did not change.