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Netherlands sees decline in goods exports & imports in September 2023

16 Nov '23

1 min read

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In September 2023, Netherlands' goods exports and imports declined, with exports down 4.8 per cent YoY and imports dropping 7.2 per cent from August 2022.
However, the country's conditions for exports in November 2023 are less unfavourable than they were in September 2023, thanks to improved effective exchange rates and producer confidence.

Dutch goods exports and imports saw a decline in September 2023, according to Statistics Netherlands (CBS). The total volume of goods exports adjusted for the number of working days saw a 4.8 per cent decrease compared to the same period last year. Similarly, the volume of goods imports experienced a more significant drop of 7.2 per cent relative to August 2022.

Despite this downturn, the CBS Exports Radar, a tool used to gauge export conditions, suggests an improvement looking ahead. The radar indicates that the conditions for exports in November are less unfavourable than they were in September. This optimistic outlook is primarily attributed to less unfavourable developments in the effective exchange rate on a year-on-year basis.

Further contributing to this positive shift in export conditions is the improved producer confidence within the euro area and specifically in Germany, one of the Netherlands' key trading partners. Despite this, it's important to note that German manufacturing output has experienced a larger year-on-year contraction, as per CBS.

Fibre2Fashion News Desk (DP)

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