Terms of trade again worse than one year previously

Compared to one year previously, Dutch terms of trade of imported and exported goods deteriorated in February 2010. Prices of imported goods were 4.0 percent up, and prices of exported goods rose by 1.7 percent. February was the seventh month in a row, in which terms of trade deteriorated compared with twelve months previously. However, the deterioration was less substantial than in the four preceding months.

The decline in terms of trade was mainly caused by price developments of petroleum and natural gas. The Netherlands imports considerably more petroleum than it exports and exports much more natural gas than it imports. In February 2010, petroleum prices were much higher than in February 2009, whereas natural gas prices were considerably lower than one year previously. Besides higher petroleum prices, import prices were also higher due to higher prices for petroleum derivatives and chemical products. Export prices for these products were also much higher than one year previously.

Terms of trade

More figures can be found on the theme page International trade.