Dutch trade with Libya dropped dramatically

Dutch trade with Libya dropped dramatically

The Arab League currently comprises 22 Arab nations. Dutch trade with member state Libya dropped most dramatically, according to Statistics Netherlands. In the first six months of 2011, trade with the Arab League made up 3.6 percent of the total value of Dutch imports and 2.1 percent of the total value of Dutch exports.

In the first half of 2011, the overall value of trade with Libya was 129 million euro, no less than 71 percent down from the same period in 2010, when the value of trade with Libya amounted to 447 million euro. On the other hand, trade with Saudi Arabia, Algeria, Qatar and Iraq grew more rapidly. This is due to the high price level for petroleum in 2011. Trade with these countries mainly consists of imports of energy products like crude oil. The soaring oil price accounts for a significant increase in the value of imports from these countries.

Trade with Saudi Arabia, Algeria and the United Arab Emirates accounts for 49 percent of Dutch trade with Arab countries. In the trade with the United Arab Emirates, exports of machinery and transport equipment are more important than imports of oil. On the list of most important Arab trading partners, Libya has dropped from eighth place in 2010 to fourteenth place in 2011.

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