Outside the dotted line: more favourable than average.
Exports Radar: circumstances slightly more favourable
Circumstances for Dutch exports in July 2018 are slightly more favourable as in June. 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, two indicators improved, one deteriorated and three hardly changed. 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. The year-on-year development of the German manufacturing output was also more favourable than in the previous month. Producer confidence in Germany and in the Eurozone remained the same. The opinion of Dutch manufacturers about their foreign orders also did not change. The opinion of manufacturers in the Eurozone about their foreign orders deteriorated slightly however.
Explanatory notes Exports Radar.