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The Netherlands non-EU exports grow relatively faster than EU ones

The Netherlands non-EU exports grow relatively faster than EU ones

AMSTERDAM: The value of Dutch exports rose by 10% or €43.5bn to €469bn in 2017, with exports to non-EU countries increasing at twice the rate as those to EU member states, the national statistics office CBS reported on Friday. Exports to Russia and South Korea were particularly strong, the CBS said. The value of exports to countries outside the EU last year was 16% higher year-on-year while the value of exports to EU countries rose 8%. In absolute terms, the value of exports to the EU was €25bn higher than in 2016. Exports to non-EU countries gained €18.5bn.

Dutch exports to non-European countries now represent 29% of the total compared to 23.5% in 2008, rising in 41 of the Netherlands’ 45 markets of €1bn or more. Portugal was the only EU member state in the 10 fastest-growing Dutch export markets. The biggest growth was in exports to South Korea where a gain of 53% to €5.5bn was seen. Specialised machinery, especially chip machines, spurred growth. Exports to Russia were 29% higher at €5.6bn, bolstered by sales of agricultural equipment and vehicles and the re-export of computers.