Dutch exports growth remains low

The volume of goods exports grew by nearly 3 percent in September compared with twelve months previously. The increase in exports thus remains low for the third successive month. The volume of imports grew by more than 2 percent in September, slightly below the growth rate in the three preceding months. Volume figures are adjusted for the number of working days.

The value of exported goods totalled 35.3 billion euro, almost the same as twelve months previously. The value of imports remained almost equal at 31.2 billion euro, resulting in a trade surplus of 4.1 billion euro. This is 0.1 billion euro more than in September 2011. The value figures are not adjusted for calendar effects. September 2012 had two working days fewer than September 2011.

The value of both imports and exports of raw materials and mineral fuels grew substantially in September compared with twelve months previously. Higher oil prices played an important part in this respect.

The value of exports to non-EU countries increased, while exports to EU countries decreased. Imports show the opposite pattern.

Export and import prices were respectively 2.9 and 3.1 percent higher than one year previously. As a result, the terms of trade deteriorated slightly compared with September 2011.

Circumstances for Dutch exports have deteriorated according to November’s Exports Radar. In October, export conditions had also worsened.

Exports of goods (volume adjusted for working days)