Exports down by 1 percent in June

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In June 2024, the total volume of goods exported (adjusted for the number of working days) was down by 1.0 percent year on year, as reported by Statistics Netherlands (CBS). Export volumes were lower for machinery, food, beverages and tobacco, petroleum products and transport equipment, in particular. Meanwhile, the volume of goods imported was down by 0.1 percent relative to June 2023.

The CBS Exports Radar for August indicates that conditions for exports have become more unfavourable since June.

Year Month%-change (year-on-year %-change)
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-5.8
2024February-6.3
2024March-5
2024April-0.1
2024May-4.3
2024June-1

Conditions for exports more unfavourable in August

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 August, conditions for exports are more unfavourable than they were in June. This is mainly due to the fact that the year-on-year contraction in German industrial production was larger and opinions among European manufacturers regarding foreign orders became more negative.

Sources

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