Export and import

Figures from Eurostat (epp.eurostat.ec.europa.eu/) indicate that, in 2007, the Netherlands was the EU’s third top exporting country after Germany and France. Prime reason for this is the fact that the Netherlands plays a key role as a hub in the distribution of goods to other European countries. Dutch exports also grew substantially in 2007. If the current trend continues, the Netherlands will move up to take second position in 2008. With 968 billion euro, Germany was easily the EU’s largest exporter. In 2007, the Netherlands exported goods worth around 400 billion euro, more than the collective export values of the new EU member states which joined the EU in 2004 or 2007. Relative to other countries, the Netherlands exported large volumes of food products, gas oil and natural gas.

In 2007 growth in export volumes will slowed down modestly, largely because of weaker demand from Germany and the US, while solid growth in domestic demand will continue to pull in imports. However, trade prices developed a little more favourably in 2007 than was the case in 2006. In 2007, a moderation in oil prices and the strength of the euro translated into much slower increases in import prices, helping to offset the unfavourable trend in net export volumes. As a result, the trade surplus remains fairly stable. The services balance is expected to improve further, continuing the trend existing since 2001, but net income inflows will be undermined by a strong currency, which will reduce the euro value of earnings from overseas investment. In general, it is expected that the current-account surplus will decline as a percentage of GDP, in 2008.

Over the longer term, it is expected that the Netherlands will continue to record substantial surpluses on the current account, mainly because of the large and persistent surplus on merchandise trade. The National Bureau of Statistics (CBS) features comprehensive information on international trade.
Further information:

• www.cbs.nl

Import - Export of goods

Source: CBS 2008

Import - Export of services

Source: CBS 2008