Dutch exports contracted in may, there is no improvement in sight

in The Netherlands, exports in may, nearly 12 percent compared to may of last year. It reports to the Dutch Central Bureau for Statistics (CBS) on Wednesday. According to the department, it is that shrinkage is almost certainly due to the coronacrisis.

The decrease in exports was smaller than that at the end of april. Then it was a contraction of just under 14 per cent. In addition, the exportdaling products in the Netherlands, were made larger than those of the doorvoerproducten.

as The statistics agency informs that there are fewer means of transport and petroleum products were exported. "This is not surprising, because the plants were coronacrisis a standstill, which will result in less and less was used. The oil production will depend largely on the global economy, and that was a slap in the coronacrisis," explains chief economist Peter Hein van Mulligen of.

While the decline in exports may be less than it was in april, that doesn't mean that the Dutch export in the right direction. According to the CBS Exportradar the conditions for exports in July, i.e. much less favourable than in may. This is mainly due to the German industry still has to deal with shrinkage, which is an important market for Dutch exports. It might be that the export is still lower.