July exports no longer falling

According to the latest preliminary figures by Statistics Netherlands, the Netherlands exported almost 19 billion euro worth of goods in July 2002. This is virtually identical to the July 2001 figure. This ends a series of eleven months in which exports fell.

The value of imports in July on July 2001 fell by 6% to almost 17 billion euro. This means that imports are not decreasing as fast as in May and June. July 2002 had one working day more than July 2001. Furthermore, prices were down slightly in July. Germany, the main trading partner of the Netherlands, manifested similar developments in international trade in July.

International trade with EU countries down
Both imports and exports with EU countries fell by 3% in July 2002 on the same period last year. Exports were worth over 14 billion euro and imports 9 billion euro. These decreases are smaller than in the last half year, when exports fell by an average of 9% and imports by 7%. The trade balance was almost 5 billion euro positive in July. This is about the same as in July last year.

More exports to non-EU countries
Exports to non-EU countries increased by 9% on July 2001, reaching a value of almost 5 billion euro. This means exports are growing faster than in previous months. Imports from non-EU countries fell by 10% on July 2001 and are now valued at over 7 billion euro. This means the trade balance with non-EU countries on July 2002 reached almost 2 billion euro, considerably less than in July last year.

(source: Statistics Netherlands)

Related News