Exports down by over 4 percent in May

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© ANP / Peter Hilz
In May 2024, the total volume of goods exported (adjusted for the number of working days) was down by 4.3 percent year on year, as reported by Statistics Netherlands (CBS). Export volumes were lower for machinery, natural gas, petroleum products and transport equipment, in particular. The volume of goods imported was down by 1.7 percent relative to May 2023.

The CBS Exports Radar for July indicates that conditions for exports are more unfavourable than they were in April.

Exports of goods (volume, adjusted for working days)
Year Month%-change (year-on-year %-change)
2020June-3.7
2020July-0.1
2020August-3.6
2020September0.4
2020October3.2
2020November1.6
2020December-0.3
2021January2.6
2021February2.5
2021March11
2021April23.8
2021May20.5
2021June12.9
2021July9.2
2021August8.2
2021September5.2
2021October0
2021November7.1
2021December6.9
2022January-0.5
2022February-0.7
2022March-1.9
2022April-0.7
2022May1.7
2022June4.7
2022July0
2022August-1
2022September2.7
2022October8.6
2022November4.6
2022December4.5
2023January4.7
2023February4.5
2023March4.6
2023April0.9
2023May0.3
2023June-0.5
2023July-3.2
2023August-1
2023September-3.9
2023October-6.4
2023November-5.7
2023December-1.6
2024January-5.9
2024February-6.3
2024March-5
2024April0.4
2024May-4.3

Conditions for exports more unfavourable in July

Every month, CBS also publishes an update on the conditions for exports in its Exports Radar. These are largely determined by developments in key sales markets for domestic exports and by the competitive position of the Netherlands. Although the Radar indicators are closely correlated with export activity, improved conditions do not necessarily mean higher export growth.

According to the CBS exports radar for July, conditions for exports are more unfavourable than they were in May. This is mainly due to the fact that the year-on-year contraction in German industrial production was larger and opinions of Dutch manufacturers about their foreign orders were more negative.

Sources

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