Netherland’s trade surplus narrowed to EUR 5.33 billion in March 2019 from EUR 5.83 billion in the same month of the previous year. Imports rose 6.9 percent year-on-year to EUR 39.94 billion, mainly driven by higher purchases of chemical products (7.5%); machinery & transport equipment (7.1%); miscellaneous manufactured articles (6.6%); and mineral fuels, lubricant and related products (2.4%). Purchases from the EU advanced 3.8 percent and those from outside the EU increased at a faster 10.7 percent. Exports went up 4.8 percent to EUR 45.23 billion, boosted by higher sales of raw materials, not edible (3.4%); chemical products (1%); machinery & transport equipment (5.5%); miscellaneous manufactured articles (9.6%); and mineral fuels, lubricant and related products (7.5%). Exports to the EU increased 5.3 percent while those to outside the EU rose 3.6 percent. Considering the first quarter of the year, the trade balance recorded a surplus of EUR 13.21 billion. Balance of Trade in Netherlands averaged 1178.19 EUR Million from 1960 until 2019, reaching an all time high of 6491 EUR Million in March of 2017 and a record low of -907.60 EUR Million in May of 1993.
Balance of Trade in Netherlands is expected to be 4100.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Netherlands to stand at 4600.00 in 12 months time. In the long-term, the Netherlands Balance of Trade is projected to trend around 3950.00 EUR Million in 2020, according to our econometric models.