Dutch industry sales drop almost 9 percent on low oil prices

Prices in the Dutch industrial sector took an 8.8 percent dive in February 2015 in comparison to February 2014, the Central Bureau of Statistics (CBS) has reported today.

It said that in January the prices were even lower, 10.6 percent. The drop is attributable to the developments in oil prices. “With the exception of the crude oil industry, the price drop in the industry is 5.2 percent,” CBS reports.

It said that the oil price dropped in February. North Sea Brent oil cost €52 per barrel, 35 percent less than it cost in February 2014. In January the discrepancy had been 46 percent.

According to CBS, the lower prices for crude oil have been pushing prices for oil industry products cost down. On average these products cost 27 percent less in February, whereas in January the price difference with the corresponding period last year was 39 percent.

Prices in the chemical industry were almost 16 percent lower than last year. Prices in the food and luxury items industries were almost 5 percent lower than 2014. Prices in the synthetic goods and rubber industry also took a dive.

CBS said that on the other hand, metal products and products from the machine and car industry were actually higher than last year.

The Bureau noted that the industries it mentioned in the release represent 80 percent of the Dutch industrial sector.