Exports growth stagnating

In September, the volume of exports of goods was about the same as twelve months previously. In July and August, the growth rate still was around 3 percent. The volume of imports was 2 percent higher in September. Volume figures have been adjusted for the number of working days.

According to November’s Exports Radar, circumstances for Dutch exports have worsened. Export conditions have been deteriorating for more than six months now. Nevertheless, conditions for Dutch exports are still more favourable in November than they were on average over the past two decades.

The value of exported goods totalled 34.4 billion euro, i.e. 5 percent more than one year previously. The value of imports grew by 10 percent to 30.8 billion euro, resulting in a trade surplus of 3.6 billion euro, 1.1 billion euro below the level in September 2010.

The value of imports and exports of raw materials and mineral fuels grew substantially compared to September 2010. Higher oil prices were an important factor in this respect.

Trade with EU countries was more dynamic than trade with non-EU countries. The value of exports to non-EU countries was in fact marginally below the level of one year previously.

Export and import prices were 5.3 and 7.3 percent higher respectively than twelve months previously. As a result, terms of trade deteriorated compared to September 2010.

Exports of goods (volume adjusted for working days)

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