In August, the total volume of goods exports (adjusted for number of working days) rose by 0.6 percent year on year, as reported by Statistics Netherlands (CBS). The growth follows a few months of contraction. The increase in August was mainly seen in exports of machinery, appliances and transport equipment. Exports volumes of chemical products and food, beverages and tobacco were lower. The volume of goods imports was down by 6.2 percent relative to August 2022.
The CBS Exports Radar indicates that conditions for exports in October are less unfavourable than in August.
Conditions for exports less unfavourable in October
Every month, CBS also publishes updates on the conditions for exports in the Exports Radar. Conditions are largely determined by developments on the main export markets for Dutch domestic products and in the competitive position of the Netherlands. Although the Radar indicators show a strong correlation with export activity, improved conditions do not necessarily mean higher export growth.
According to the CBS Exports Radar, conditions for exports in October are less unfavourable than in August. This is mainly due to less favourable effective exchange rate developments. However, European and Dutch manufacturers’ opinions about their foreign orders deteriorated.
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