Dutch exports upbeat on downtrodden euro
Dutch exports are boosted by the low rate of the euro and the sharp fall in oil prices. The top three most important export markets for the Netherlands are the United States, Canada and Turkey. This is the first time since 2009 that the US is back in the top three.
This is according to Trends in Export, the annual study by export association Fenedex and credit insurance company Atradius, Z24 reports.
In genereal exporters expect to increase their turnover by 9 percent in 2015. Exporters expect that the turnover of exports to the US will increase by 60 percent this year. The expected increase to China is 65 percent.
"Optimism remains high, especially now that the economic recovery continues. All sectors achieved growth in 2014 and the expectations for the coming year are also favorable." according to Bart Jan Koopman, director of Fenedex. "Two out of three exporters expect to achieve a growing export turnover this year. It is very positive that almost three quarters of the companies indicate that export growth is due to a growing order portfolio."
The European Union remains very important for exports - 66 percent of the total Dutch exports go to EU member states. The sanctions that the EU put in place against Russia due to the tension around the Ukraine was a blow to exporters. For the first time in years Russia is no longer in the top five growth markets and has fallen to 54th place. Exporters expect a 48 percent decline in turnover to Russia and 41 percent decline to the Ukraine.