Outside the dotted line: more favourable than average.
Exports Radar: circumstances less favourable
Circumstances for Dutch exports in July 2021 are less favourable than in the previous month. Since the publication of the previous Exports Radar, new data have become available for six indicators. Five indicators improved, one 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.
The year-on-year growth in German manufacturing output was considerable smaller. The real effective exchange rate and opinions of Dutch manufacturers about their foreign orders improved. Also opinions of European manufacturers about their foreign orders and producer confidence in the eurozone and Germany improved.
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