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Financial News: Dutch Exports Decline Slows In May

Dutch Exports Decline Slows In May

07/15/2020 - 02:10:00 (RTTNews)

(RTTNews) - Dutch exports and imports continued to fall in May as demand remains impacted due to the coronavirus pandemic, figures from the statistical office CBS showed on Wednesday.

Merchandise exports fell 11.8 percent year-on-year in May, following a 13.8 percent decrease in April. Exports declined for the third consecutive month.

In May, exports of transport and petroleum products decreased and manufactured exports were greater than that of re-exports, the agency said.

Imports decreased 7.6 percent annually in May, following a 9.0 percent fall in the prior month. Imports fell for a fifth month in a row.

In May, imports of transport equipment, machinery and clothing decreased from last year.

Conditions for exports in July are less favorable than in May, the CBS said, mainly because the shrinkage of German industrial production was greater.

Further, both Dutch and European industrial entrepreneurs assessed their foreign order position more negatively. Meanwhile, the confidence of German and European entrepreneurs was less negative.

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