Modest growth for exports in March

The volume of exports of goods grew by 1.6 percent in March relative to twelve months previously. The growth of exports has not been this low since August 2012. The volume of imports declined by 0.1 percent in March, the first decline since November 2011. Volume figures are adjusted for the number of working days.

The value of exported goods totalled 37.5 billion euros, i.e. 1.9 percent down from twelve months previously. The value of imported goods decreased by 4.4 percent to 32.4 billion euros, resulting in a trade surplus of 5.0 billion euros, i.e. an increase by 0.7 billion euros relative to March 2012. These value figures have not been adjusted for the number of working days. March 2013 had one working day less than March 2012.

The value of exports of raw materials and mineral fuels improved relative to the same month one year previously. Imports of chemical products also increased.

The value of exports to non-EU countries improved marginally, whereas the value of exports to EU countries declined.

For the first time since December 2009, import and export prices were down from one year previously. Export and import prices were respectively 0.8  and 0.7 percent down from one year previously. As a result, terms of trade improved compared to March 2012.

According to May’s Exports Radar, circumstances for Dutch exports have deteriorated. In the preceding months, the Exports Radar had shown a mixed picture.

Exports of goods (volume adjusted for working days)