Dutch exports grow by almost 3 percent in January

Photo: ANP

The Netherlands exported 2.7 percent more goods in January than one year previously. More petroleum products, chemical products and means of transport were exported in the first month of the year, reports the Central Bureau of Statistics (CBS).

Export growth did fall compared to December 2021, when exports still grew by 7.8 percent. The Netherlands also imported more. The total volume of imported goods was 7.2 percent higher in January than twelve months previously.

Statistics Netherlands also measures every month whether the conditions are favorable or unfavorable for international trade. According to the statistical office, conditions for exports in March are almost as favorable as in January. This is, for example, because the contraction of German industrial production turned into growth. Germany is an important sales market for the Netherlands.

However, improving conditions does not necessarily mean higher export growth. Statistics Netherlands also notes that with effect from January 2022 the data observation and processing of the international trade in goods statistics have been updated. As a result, the development of imports and exports compared to a year earlier is surrounded by greater uncertainty than usual.

Figures from the German research institute Ifo showed last week that the confidence of German entrepreneurs fell sharply in March due to the war in Ukraine and rising energy prices. “Sentiment in the German economy has collapsed,” Ifo president Clemens Fuest said in a statement last Friday. “Companies in Germany expect difficult times.”

Dutch exports grow by almost 3 percent in January
Source link Dutch exports grow by almost 3 percent in January

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