Exports down by almost 5 percent in September

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In September, the total volume of goods exports (adjusted for number of working days) was down by 4.8 percent year on year, as reported by Statistics Netherlands (CBS). Exports volumes of chemical products, food, beverages and tobacco, electronic machines and optical appliances in particular were lower. The volume of goods imports was down by 7.2 percent relative to August 2022.

The CBS Exports Radar indicates that conditions for exports in November are less unfavourable than in September.

Export goederen (volume, werkdaggecorrigeerd)
JaarMaand%-verandering (%-verandering t.o.v. jaar eerder)
2019oktober5
2019november1.2
2019december3.3
2020januari2.8
2020februari0.5
2020maart-5.6
2020april-13.3
2020mei-12.2
2020juni-3.4
2020juli0
2020augustus-3.6
2020september0.5
2020oktober3.1
2020november1.7
2020december-0.2
2021januari3.8
2021februari3.9
2021maart12.7
2021april25.8
2021mei22.4
2021juni14.5
2021juli11
2021augustus10.1
2021september6.9
2021oktober1.5
2021november8.9
2021december8.6
2022januari1.2
2022februari1
2022maart-0.1
2022april-0.3
2022mei2.3
2022juni5.2
2022juli0.5
2022augustus-0.3
2022september3.3
2022oktober8.4
2022november4.4
2022december4.3
2023januari2.3
2023februari4
2023maart3
2023april0.2
2023mei0.4
2023juni-0.6
2023juli-2.7
2023augustus0.5
2023september-4.8

Conditions for exports less unfavourable in November

Every month, CBS also publishes updates on the conditions for exports in the Exports Radar. Conditions are largely determined by developments in the key export markets for domestic exports and in the competitive position of the Netherlands. Although the Radar indicators show a strong correlation with export activity, improved conditions do not necessarily mean higher export growth.

According to the CBS Exports Radar, conditions for exports in November are less unfavourable than in September. This is mainly due to less unfavourable effective exchange rate developments year on year. Also producer confidence was less negative in the euro area and in Germany. However, the year-on-year contraction in German manufacturing output was larger.

Sources

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