Outside the dotted line: more favourable than average.
Exports Radar: circumstances more unfavourable
Circumstances for Dutch exports in September 2023 were more unfavourable compared to the previous month. Since the publication of the previous Exports Radar, new data have become available for all six indicators. Five indicators deteriorated. 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 export growth.
Opinions of European and Dutch manufacturers about their foreign orders deteriorated. Producer confidence in the Eurozone and Germany was also more negative. The year-on-year contraction of German manufacturing output was larger. However, the development of the real effective exchange rate was less unfavourable.
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