Share of Dutch exports in the world market on the rise again
The share of Dutch exports in world trade is on the rise again, after a decline from 3.5 to 3 percent in the years following the credit crisis. The Dutch export share in the world market grew again in 2016 and 2017, with the Netherlands occupying a share of 3.2 percent in 2017, Statistics Netherlands (CBS) reports.
According to CBS research, the share grew markedly in 2016 as a result of rising Dutch export values along with a decrease in the value of world trade. Although the value of world trade started to increase again in 2017, the pace of the growth did not match that of Dutch exports. In both years, the value of Dutch exports grew more rapidly than world trade due to more steeply rising Dutch export volumes as well as more positive price developments. Relative to the year 2000, world trade has more than doubled in value, from 8.5 billion to nearly 20 billion euros (2017). The open nature of the Dutch economy means that the development of Dutch exports tends to be in line with world trade. However, developments have been out of sync since 2010.
Export value of both goods and services is up
In 2008-2017, the value of Dutch exports increased by over 174.5 billion euros. Goods exports rose by 125 billion euros and service exports by 50 billion euros. The sharpest increase was seen in exports of food, beverages and tobacco, electronic products, transport equipment and machinery. As for service exports, the export value of tourism-related services increased in particular.
Larger shares in Asia and Oceania
In percentage terms, the highest growth rate was recorded in Dutch goods exports to Asia, which increased by around 25 percent between 2015 and 2017. Dutch exports to countries in North America and South America as well as Oceania grew as well. Goods exports to other countries around Europe increased by 12 percent. With a 77 percent share, Europe is still our largest market for goods exports; in recent years, sharper growth has been recorded in the exports of vehicles and medicinal products.
More services exported to Europe and Asia
Similar to goods exports, Dutch service exports are mostly sent to other countries throughout Europe (68 percent). In percentage terms, the strongest increase between 2015 and 2017 was seen in service exports to Oceania, followed by service exports to Europe and Asia. The export value of business services, royalties, and license fees to both Europe and Asia increased in particular.