Exports growth slightly down

The volume of exports of goods increased by nearly 4 percent in August from twelve months previously. In June and July, the growth rate still exceeded 5 percent. The volume of imports was nearly 5 percent higher in August, substantially above the growth level in July. Volume figures have been adjusted for the number of working days.

According to October’s Exports Radar, circumstances for Dutch exports have worsened.

The value of exported goods totalled 32.7 billion euro, i.e. 11 percent up on one year previously. The value of imports grew by 13 percent to 29.8 billion euro, resulting in a 3.0 billion euro trade surplus, which is 0.1 billion euro below the August 2010 level. Value figures have not been adjusted for the number of working days. August 2011 had one working day more than August 2010.

Not only the value of imports and exports of raw materials and mineral fuels grew substantially compared to August 2010, imports of food and drinks also grew considerably. Higher oil and food prices played an important part in this respect.

The value of trade with EU countries grew much faster than the value of trade with non-EU countries.

Export and import prices were respectively 4.2 and 5.2 percent up on twelve months previously. As a result, terms of trade deteriorated compared to August 2010.

Exports of goods (volume adjusted for working days)

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