Dutch trade faces headwinds as export growth slows

Dutch goods exports rose 0.8 per cent YoY in May 2023, while imports fell by 3 per cent, as per CBS.
However, the CBS Exports Radar predicts less favourable export conditions in July due to an unfavourable real effective exchange rate, lower producer confidence in the euro area and Germany, and deteriorating foreign order expectations among manufacturers.

Netherlands’ total volume of goods exports saw a year-on-year (YoY) increase of 0.8 per cent in May 2023, according to recent data from Statistics Netherlands (CBS). Conversely, the volume of goods imports fell by 3 per cent compared to May 2022.
The CBS Exports Radar suggests that circumstances for exports in July are predicted to be more challenging than in May. This downturn is attributed mainly to an unfavourable shift in the real effective exchange rate, coupled with an increased negativity in producer confidence within the euro area and in Germany specifically.

Furthermore, the views of Dutch and European manufacturers on their foreign orders have also taken a negative turn, contributing to the less favourable forecast for exports in July, as per CBS.

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