Exports up by 8.5 percent in October

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© Hollandse Hoogte / Peter Hilz
In October 2022, the total volume of goods exports was up by 8.5 percent year on year, as reported by Statistics Netherlands (CBS). The increase over October was mainly seen in exports of petroleum products, transport equipment and machinery and appliances. The volume of goods imports was up by 7.4 percent year on year.

The CBS Exports Radar indicates that circumstances for exports in December are less favourable than in October.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
2018October3.4
2018November0.4
2018December0.5
2019January1.7
2019February-0.8
2019March1
2019April1.1
2019May-0.7
2019June-0.2
2019July-1
2019August2.6
2019September0.5
2019October5
2019November1.2
2019December3.3
2020January3
2020February0.8
2020March-5.3
2020April-13.1
2020May-12.1
2020June-3.3
2020July-0.1
2020August-3.6
2020September0.5
2020October2.7
2020November1.3
2020December-0.6
2021January2.6
2021February2.8
2021March10.7
2021April23.7
2021May20.1
2021June12.9
2021July8.9
2021August8.3
2021September4.6
2021October-1
2021November7.6
2021December6.7
2022January1.2
2022February1.8
2022March-1.1
2022April0.7
2022May3.3
2022June4.1
2022July0.8
2022August1.3
2022September2.9

Conditions for exports in November less favourable

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 December are less favourable than in October. This is mainly because the year-on-year change of the real effective exchange rate was more unfavourable. In addition, the year-on-year growth of German manufacturing output was lower and opinions of Dutch and European manufacturers about their foreign orders deteriorated.

From January 2022 onwards, CBS applies new methodology in the monitoring and processing of data for the International trade statistic. As a result, the year-on-year development of imports and exports has a greater uncertainty margin than is customary.

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

Sources

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