The share of Dutch exports in world trade has increased
Photo: Port of Rotterdam – http://www.portofrotterdam.com
In the years after the credit crisis, the share fell from around 3.5 to 3.0 percent. In 2016 and 2017 the share of Dutch exports in world trade increased again and in 2017 the share came to 3.2 percent.
In 2016 the share rose sharply due to an increase in the value of Dutch exports combined with a decrease in the value of world trade. In 2017, the value of world trade did increase, but Dutch export value rose faster. The fact that the value of Dutch exports in both years rose faster than world trade was due to both stronger growth in the volume of Dutch exports and to more favourable price developments.
World trade has more than doubled in value compared to the year 2000, from 8.5 trillion euros to almost 20 trillion euros (2017). Due to the open nature of the Dutch economy, the development of exports usually shows a similar path to world trade. After 2009, however, the developments are less synchronous.
Export value of both goods and services increased
Between 2008 and 2017 the Dutch export value increased by more than 174.5 billion euros. Exports of goods increased by 125 billion euros and that of services by 50 billion euros. In particular, the export value of foodstuffs and stimulants, electronic products, transport equipment and machines increased. Of the services, the export value of tourism-related services increased.
Asia and Oceania share in total goods exports increased
In percentage terms, goods exports from the Netherlands to Asia increased the most, between 2015 and 2017, by about a quarter. The export value of petroleum products rose mainly to Asia. Exports to North and South American countries and Oceania also increased. Exports to European countries increased by 12 percent. We still export the vast majority of goods to European countries (77 percent). The Netherlands has exported more vehicles and medicinal products to Europe in recent years.
Especially more services exported to Europe and Asia
Just like the goods, most of the Dutch services also go to other European countries (68 percent). In percentage terms, exports of services to Oceania rose most rapidly between 2015 and 2017, followed by services to Europe and Asia. In both Europe and Asia, the export value of business services, royalties and licenses increased. The export value of services to North and South America and Africa decreased between 2015 and 2017.