Record exports to Germany | Financial

This is evident from figures from the Central Bureau of Statistics (CBS). In the first four months of this year, exports of goods to Germany grew by 10.5% to €40.6 billion. These are both Dutch-made goods and transit goods. Flowers, plants and cars were the main export products.

The increase is not only because the economy was in limbo in 2020 due to the coronavirus outbreak. At that time there was still a contraction of 6.8%. Compared to 2019, the previous record year, goods exports to Germany were almost 5% higher this year.

‘Remarkable increase’

CBS researcher Marjolijn Jaarsma calls the increase ‘remarkable’. “We also see news reports about scarcity of, for example, chips for the car industry, or rising prices of raw materials. But large parts of the industry are not hindered by this. We see good figures in chemistry, food and machinery.”

The total export of goods, not only to Germany, has even increased by 12.4%, Jaarsma reports. “Overall things are going very well.” Exports to our eastern neighbors produced exclusively in the Netherlands amounted to €19.3 billion. That was €1.7 billion (or almost 10%) more than in 2020.

The figures published on Tuesday also show that export earnings per euro have decreased somewhat, from 58 euro cents in 2015 to 55 euro cents in 2019.

Jaarsma: „That means that the Dutch economy is left with 55 cents of every euro exported to Germany. The other 45 euro cents go abroad.” This concerns costs that companies in turn pay for the import of raw materials, for example. “ASML also needs parts from abroad to make chip machines,” Jaarsma gives as an example.

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