Strongest Growth in Dutch Goods Exports in Six Years
The year 2016 was a turbulent one for global trade: the UK voted to leave the EU, the U.S. elected a new president, Brazil began to recover economically, and German exports surged once more. But how did these global shifts affect Dutch exporters? The Evofenedex Trends in Export 2017 survey highlights five key trends:
1. Solid Export Growth Despite Missed Expectations
Dutch exporters reported a 6% increase in export turnover in 2016
While below the 10% forecast, it remains a strong result, especially as it's the highest growth since 2009
The slight deviation from early-year estimates (preliminary 3%) did not impact exporter optimism:
➤ For 2017, a 9% growth in exports is anticipated
2. Germany Remains the Top Trade Partner
81% of Dutch exporters do business with Germany
Followed by:
➤ Belgium (75%), France, and the UKPoland enters the Top 5 for the first time, replacing Denmark, which dropped to 8th
3. United States Gains Favor
Exporters continue to favor the U.S. market
In 2016:
➤ 58% reported sales growth
➤ By year-end, 70% expected continued growthSurprisingly, Trump’s "America First" policies had no negative impact on Dutch exporters
Other rising markets:
➤ Iran, Germany, Canada, and Vietnam
4. UK Export Volumes Decline Sharply
The UK dropped into the Top 10 of declining markets
Dutch exports to the UK fell by 25% in 2016
The Brexit vote is widely believed to be a major factor
Concerns include:
➤ Longer customs processes
➤ Increased bureaucracy
➤ Higher import tariffs
5. Growing Concern Over Protectionism
57% of exporters experienced more protectionist measures in recent years
33% face these issues regularly
Common barriers:
➤ Trade restrictions, tariffs, bureaucracy, and local regulationsEspecially in markets like the U.S. and UK, protectionism is seen as a growing obstacle to trade
Conclusion
Despite missed projections, Dutch exports saw their strongest growth in six years. Exporters remain optimistic about Germany, the U.S., and emerging markets, while Brexit and global protectionism present rising concerns for 2017 and beyond.