Dutch exports reached a record €170.4 billion in 2022, up 30 per cent from 2021, while imports jumped 37 per cent to €182.2 billion, according to Statistics Netherlands (CBS).
Trade value increased due to higher prices, though the Dutch economy’s openness remained steady.
The country’s re-exports accounted for 57 per cent of export growth.
In 2022, the value of Dutch exported goods reached a record high of €170.4 billion, representing a 30 per cent surge from 2021 figures, according to Statistics Netherlands (CBS). Additionally, goods imports saw a more significant rise, jumping by 37 per cent to €182.2 billion. This escalation was primarily attributed to higher trade prices. The CBS unveiled these figures during Globalisation Week, confirming that the openness of the Dutch economy has remained steady in recent years, despite the notable rise in trade value.
Following a recovery from the coronavirus crisis and the initial price increases of 2021, the value of Dutch goods trade experienced a renewed uptick over 2022. This was principally due to considerably higher prices of several goods. The volume of Dutch goods trade also increased, albeit modestly. Adjusting for price increases, the volume of imports and exports saw a marginal rise of about 2.3 per cent in 2022 compared to the previous year.
Re-exports represented about 57 per cent of the growth in export value. Germany, as the Netherlands’ main export partner, led the way with trade growth of €53 billion in 2022. Other countries in the top five export markets, including Belgium, France, the UK, and the US, also saw an increase in trade value. Russia, however, slipped from the 18th to the 29th spot among the Netherlands’ export partners, with exports to Russia declining by 37 per cent from 2021.
Despite the substantial increase in trade value, the openness of the Dutch economy remained consistent over the recent years. The volume of re-exports has increased both in absolute terms and as a percentage of GDP and is now larger than the volume of domestic exports. However, the income generated from domestic exports still surpasses that from re-exports.