Dutch exports drop 10 percent in May

20th July 2009, Comments 0 comments

Exports represent 35 percent of the Dutch gross domestic income.

The Hague – Dutch export volumes were 10 percent lower in May than the same month last year the CBS statistics agency said Monday.

Export values dropped by a fifth.

"In May, EUR 24.1 billion worth of goods were exported, 21 percent lower than a year earlier," it said in a statement.

Exports to fellow EU countries had dropped at the steepest rate compared to other categories.

The CBS said imports also declined: by 12 percent in volume and 22 percent in value in May.

Imports as of May 2009 were valued at EUR 21.5 million.

Trade in petroleum and gas products was hardest hit.

Exports form about 35 percent of total Dutch GDP, the single biggest category.

The Bureau for Economic Policy Analysis, which advises the government, projected last month that exports would slump by 15.25 percent this year, a post-1945 low.

The Dutch economy entered recession in the fourth quarter of 2008.

AFP / Expatica

0 Comments To This Article