Modest growth for Dutch exports

The volume of exports of goods grew by more than 2 percent in August compared with twelve months previously. This increase is larger than in July, but smaller than in June. The volume of imports grew by nearly 4 percent in August, almost the same as the growth rate in June and July. Volume figures have been adjusted for the number of working days.

The value of exported goods totalled 34.6 billion euro, i.e. 5.5 percent more than twelve months previously. The value of imports rose by more than 8 percent to 32.8 billion euro, resulting in a trade surplus of 1.8 billion euro. This is 0.7 billion euro less than in August 2011.

The value of both imports and exports of raw materials and mineral fuels grew substantially in August compared with twelve months previously. Higher oil prices played an important part in this respect. The value of exports to non-EU countries grew much faster than the value of exports to EU countries.

Export and import prices were respectively 3.2 and 4.5 percent higher than one year previously. These price increases were larger than in the preceding months, mainly as a result of the higher oil prices. Terms of trade deteriorated compared with August 2011.

Circumstances for Dutch exports have deteriorated according to October’s Exports Radar. In the preceding month, ups and downs had balanced each other out.

Exports of goods (volume adjusted for working days)