Netherland’s trade surplus narrowed to EUR 2.9 billion in January 2019 from EUR 3.2 billion in the same month a year earlier. It was the smallest trade surplus since May 2015, as exports rose less than imports. Imports increased 4.8 percent year-on-year to EUR 38.7 billion mainly driven by purchases of chemicals and related products, n.e.s (7.2 pct); food & live animals (6.5 pct); manufactured goods (5.8 pct); machinery & transport equipment (7.5 pct); and miscellaneous manufactured articles (6.7 pct). Purchases from the EU increased 5.8 percent and those from outside the EU advanced 3.9 percent. Exports went up 3.6 percent to EUR 41.5 billion, mostly due to higher sales of manufactured goods (5.9 pct); machinery & transport equipment (2.6 pct); miscellaneous manufactured articles (10.1 pct); food and live animals (5.1 pct); and mineral fuels, lubricant and related products (4.1 pct). Exports to the EU went up 6.3 percent while those to outside the EU fell 3.1 percent. Balance of Trade in Netherlands averaged 1162.85 EUR Million from 1960 until 2018, reaching an all time high of 7096 EUR Million in November of 2018 and a record low of -907.60 EUR Million in May of 1993.
Balance of Trade in Netherlands is expected to be 6700.00 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 4780.00 in 12 months time. In the long-term, the Netherlands Balance of Trade is projected to trend around 5050.00 EUR Million in 2020, according to our econometric models.