Outside the dotted line: more favourable than average.
Exports Radar: circumstances less favourable
Circumstances for Dutch exports in September 2018 are less favourable than in August. Since the publication of August’s Exports Radar, new data have become available for each of the six indicators. According to September’s Exports Radar, four indicators deteriorated and two improved. 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 on an annual basis improved. Producer confidence in Germany was also more positive. On the other hand, the year-on-year development of the German manufacturing output was considerably less favourable than in the previous month. The opinion of manufacturers in the Netherlands and the Eurozone about their foreign orders also deteriorated. Lastly, producer confidence in the Eurozone was less favourable.
Explanatory notes Exports Radar.