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Netherlands' volume of goods exports dip 0.9% in July 2023: CBS

12 Sep '23

1 min read

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In July 2023, Dutch goods exports fell 0.9 per cent YoY, while imports rose 2.2 per cent, as per Statistics Netherlands.
September forecasts indicate harsher export conditions, partly due to decreased German producer confidence and a contraction in German manufacturing output, alongside a pessimistic outlook from European manufacturers on foreign orders.

In July 2023, the Dutch economy experienced a minor contraction in the total volume of goods exports, falling by 0.9 per cent compared to the same period last year, according to Statistics Netherlands (CBS). This decline mirrored the trend from the previous month.

July also saw a 2.2 per cent year-on-year (YoY) increase in the volume of goods imports, indicating a divergence in the movement of imports and exports, as per CBS.

Looking ahead to September, the CBS Exports Radar predicts more unfavourable circumstances for exports compared to July. A significant factor contributing to this bleak forecast is the diminished producer confidence in Germany, a key trading partner for the Netherlands. This downturn in morale is further exacerbated by a shift in the YoY growth of German manufacturing output, which has regrettably spiralled into contraction.

Moreover, the current landscape reveals a deterioration in the confidence and outlook on foreign orders among European manufacturers.

Fibre2Fashion News Desk (DP)

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