Domestic exports affected GDP growth negatively in 2023
The negative contribution of exports of goods and services to economic growth in 2023 resulted entirely from domestic exports , which were down by 0.4 percentage points. Goods re-exports made an almost negligible contribution to GDP in 2023, while services exports accounted for 0.1 percentage points of GDP growth. In 2022, the contribution of services exports to economic growth was significantly higher (2.3 percentage points). This was due to the recovery from the coronavirus pandemic; in 2021, travel restrictions and other measures were still in place.
| Domestic exports (percentage points) | Re-exports (percentage points) | Services exports (percentage points) | |
|---|---|---|---|
| 2023 | -0.4 | 0 | 0.1 |
| 2022 | -0.2 | -0.1 | 2.3 |
Largest decline in mining and quarrying
The negative contribution of domestic exports to GDP growth was mainly due to the mining and quarrying industry, which exported significantly less natural gas in 2023. The volume decline in domestic exports in this industry was 31.7 percent, accounting for a negative contribution to GDP growth of 0.4 percentage points.
The same is true of the chemical industry, which also made a significant negative contribution to economic growth. The volume decline in domestic exports in the chemical industry was 13 percent, contributing negatively to GDP growth in 2023 by 0.1 percentage points. Declining export volumes of agricultural and food products were also reflected in the negative contributions to growth from the food and beverage industry and agriculture, forestry and fishing. Exports in the electrical and electronics industry, pharmaceuticals and metals also contributed negatively to GDP growth.
| Bedrijfstak | 2023 (percentage points) | 2022 (percentage points) |
|---|---|---|
| Mining and quarrying | -0.39 | -0.13 |
| Chemical industry | -0.1 | -0.08 |
| Food, beverages and tobacco | -0.05 | -0.04 |
| Electrical and electronics industry | -0.04 | 0.08 |
| Other industry and repair | -0.04 | -0.02 |
| Pharmaceutical industry | -0.03 | 0.06 |
| Metal industry | -0.03 | -0.01 |
| Agriculture, forestry and fishing | -0.02 | -0.08 |
| Other | -0.02 | 0.02 |
| Motor vehicle and trailer | 0.03 | 0 |
| Petroleum industry | 0.04 | -0.03 |
| Machinery industry | 0.23 | 0.07 |
Machinery industry achieved positive growth
Domestic exports in the machinery industry, however, presented growth figures over the past two years. Domestic export volumes in this industry grew by 16 percent in 2023, making a positive contribution to GDP growth of 0.2 percentage points. The petroleum industry and the motor vehicle and trailer industry also made a minimal but positive contribution to GDP growth in 2023.
Sources
- Publication - National Accounts 2023 tables
Related items
- Publication Dutch Trade in Facts and Figures (chapter 6)