Hook of the Netherlands 20.05.2021 Dutch-made goods exports to England are up 24% in the first quarter of 2021
Than it was in the same quarter of last year.
Meanwhile, re-exports to the UK decreased by 26%. As a result, total exports to the UK remained virtually unchanged. Total merchandise exports grew by 5% in the first quarter of 2021. This is evidenced by provisional figures from the Netherlands Statistical Office on international trade in goods.
Dutch-made goods exports to the UK were valued at 5.7 billion euros in the first quarter. The value of re-exports during that period amounted to 3.2 billion euros. In 2020, the Dutch economy generated nearly 56 cents per euro from exports of Dutch-made goods to the UK, compared to 14 cents per euro from re-exports.
The importance of Dutch-made exports to the United Kingdom has increased
In the first quarter of 2021, total exports of goods produced in the Netherlands grew by 8%; Significantly lower than the growth in exports to the UK (24%). This is partly because the share of oil and gas in the export package is much larger than it was a year ago. Oil and gas prices rose sharply in the first quarter.
As a result of these developments, interest in exporting Dutch-made goods to the UK increased in the first quarter from 6.5% (Q1 2020) to 7.5%. This is 1 percentage point higher than in 2020, but compared to the first quarter of 2016, the share of exports of Dutch-made products to the UK was more than one percentage point smaller.
Significant increase in oil and gas exports
Dutch product exporters to the UK mainly sold more oil and gas in the first quarter of 2021, with a growth of 235 million euros. The export of flowers and plants grew by 179 million euros. In addition, the export of medical devices and other medical supplies gained momentum in the first three months of this year. Conversely, exports of passenger cars manufactured in the Netherlands to the United Kingdom in particular have decreased significantly from the first quarter of 2020.
