Outside the dotted line: more favourable than average.
Exports Radar: circumstances deteriorated
Circumstances for Dutch exports in July 2019 deteriorated. Since the publication of June’s Exports Radar, new data have become available for each of the six indicators. According to July’s Exports Radar, five indicators deteriorated and one remained the same. 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.
Producer confidence in the Eurozone and Germany was more negative. Also the development of the real effective exchange rates deteriorated. The opinion of manufacturers in the Eurozone about their foreign orders was more negative. The development of the German manufacturing output was also more unfavourable. The opinion of Dutch manufacturers about their foreign orders didn’t change.