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Dutch Export Growth Slows For Second Month

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Dutch Export Growth Slows For Second Month
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The Netherlands’ goods exports grew at a slower pace for a second consecutive month in February, while imports declined for the first time in four years, figures from the Dutch statistical office CBS showed on Friday.

Merchandise exports rose 3.3 percent year-on-year following a 3.9 percent increase in January. In December, exports grew 4.6 percent.

Export growth in February was largely underpinned by shipments of machinery and petroleum products.

Imports decreased 0.9 percent from a year ago, mainly due to lesser demand for minerals, petroleum products, metal products and machines.

The adverse effects of the coronavirus outbreak are barely visible in the February data, the agency said.

The statistical office said conditions for exports in April are less favorable than in February, mainly because German and European producer confidence was lower amid the spread of the coronavirus or Covid-19, and the development of the real exchange rate was less favorable.

The material has been provided by InstaForex Company – www.instaforex.com