Dutch exports growth slows down further

Dutch exports growth slows down further

The volume of Dutch exports of goods increased by more than 1 percent in September from twelve months previously. In July, the growth rate still was nearly 5 percent, in August more than 3 percent. The volume of imports was 4 percent higher in September, according to Statistics Netherlands. Volume figures have been adjusted for the number of working days.

According to November’s Exports Radar, circumstances for Dutch exports have worsened. Export conditions have deteriorated for more than six months now. Nevertheless, conditions for Dutch exports are still more favourable in November than they were on average over the past two decades.

The value of exported goods totalled 34.9 billion euro, i.e. nearly 7 percent up on one year previously. The value of imports grew by nearly 12 percent to 31.3 billion euro, resulting in a 3.6 billion euro trade surplus, which is 1.1 billion euro below the September 2010 level.

The value of imports and exports of raw materials and mineral fuels grew substantially compared to September 2010. Higher oil prices played an important part in this respect.

Trade with EU countries was more dynamic than trade with non-EU countries. The value of exports to non-EU countries was in fact marginally below the level of one year previously.

Export and import prices were respectively 5.3 and 7.3 percent up on twelve months previously. As a result, terms of trade deteriorated compared to September 2010.

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