Exports up by over 22 percent in May

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© Hollandse Hoogte / Peter Hilz
In May 2021, the total volume of goods exports was up by 22.2 percent year-on-year, as reported by Statistics Netherlands (CBS). This is the second highest growth since the start of this statistic in 1995. The increase was mainly seen in exports of petroleum and chemical products, transport equipment, metal products and machinery. Compared to May 2019, exports were 7.9 percent higher. The volume of imports in May was up by 20.7 percent year-on-year and by 9.6 percent relative to May 2019.

The CBS Exports Radar indicates that circumstances for exports are more favourable in July than they were in May.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
2017June10.7
2017July7.1
2017August7.3
2017September7.9
2017October7
2017November7.1
2017December6.2
2018January4.8
2018February4.3
2018March3.1
2018April6.2
2018May5.3
2018June0.4
2018July2.7
2018August4
2018September3
2018October3.4
2018November0.4
2018December0.6
2019January2.2
2019February-0.3
2019March1.5
2019April1.7
2019May-0.1
2019June0.7
2019July-0.1
2019August3.4
2019September1.4
2019October6.3
2019November2.3
2019December4.5
2020January3.2
2020February1
2020March-4.7
2020April-12.7
2020May-11.6
2020June-2.9
2020July0
2020August-3.4
2020September0.8
2020October2.7
2020November1.3
2020December-0.8
2021January2.2
2021February3
2021March11.2
2021April25.7
2021May22.2

Conditions for exports more favourable in July

Every month, CBS also publishes updates on the circumstances for exports in the Exports Radar. Conditions are largely determined by developments on the main export markets for Dutch domestic products and in the competitive position of the Netherlands. Although the Radar indicators show a strong correlation with export activity, improved circumstances are not necessarily translated into increased export growth.

According to the CBS Exports Radar, circumstances for exports in July are more favourable than in May. This is mainly because the year-on-year growth in German manufacturing output was higher in July’s radar.

Goods exports account for approximately three-quarters of total exports. As for data on exports of services, these are not published monthly. Data on total exports are published quarterly and annually. Figures published in this news release are provisional and subject to revision.

Sources

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