International trade in services
This chapter focuses on international trade in services. We discuss the development of Dutch trade in services over time, also distinguishing the main trading partners and service types. The international position of the Netherlands as a service trader is also discussed: how important is the Netherlands for the service trade of other countries, as a supplier and as a market?
4.1Key findings
Dutch service exports in 2022
- In 2022, the Netherlands exported nearly €261bn in services, 22% more than in the previous year and 20% above the 2019 level. Fewer services were exported in 2020 and 2021 due to restructuring as a result of tax changes as well as the coronavirus crisis and associated travel restrictions.
- Extreme price increases in 2021 and 2022 are also reflected in the volume of international trade in services. Compared to 2019, the volume of service exports increased by 1.5% in 2022 while the export prices of services were 10.9% higher.
- The fastest growth compared to 2021 was in tourism expenditure in the Netherlands (+91% growth). Travel services therefore gained in importance as a service type in 2022.
- Germany was the main destination for Dutch services in 2022. In particular, our eastern neighbours received many transport services, business services and travel services from the Netherlands.
- The UK and the US rank second and third respectively on the list of top destinations for Dutch services. Despite Brexit, the UK received more transport services in 2022 than in 2021 and 2019. The US was the principal destination for business services, receiving 16% of all services of this type from the Netherlands.
- Ireland ranks fourth and became a more important export destination for Dutch services year on year (42% growth in 2022 relative to 2021). This growth is mainly driven by increasing flows of telecommunications, computer and information services as well as intellectual property fees to Ireland. Ireland was the principal export partner for both service categories in 2022.
Dutch service imports in 2022
- Dutch imports of services were 19% higher than in 2021, amounting to €250bn. This is also above the level of 2019.
- Although the volume of trade in services was still below the 2019 level, the price increases in recent years have led to a substantially higher import value.
- Business services are the largest services import while there was significant growth in travel services, which includes spending by Dutch nationals abroad. The growth in travel services can be explained by the fact that travel restrictions due to the coronavirus pandemic were phased out in most countries at the beginning of 2022.
- Just as in 2021, the US was the most important supplier of services to the Netherlands. The Netherlands imported €47.3bn worth of services from the US. Intellectual property fees and business services saw the strongest growth in absolute terms. More than 60% of all Dutch cross-border payments for intellectual property ended up in the US.
- The UK and Germany are also among the main service providers. Imports from the UK were up by 11% on 2021 while imports from Germany were even 27% higher. Germany was very important in the supply of transport services to the Netherlands.
- France was the fifth largest supplier of services to the Netherlands in 2022; the Netherlands imported 35% more from France than in 2021. France thus surpassed Belgium on the ranking of service suppliers for the first time. The top 10 of most important partner countries has remained stable since 2019.
The Netherlands as an international service provider in 2021
- The Netherlands was in 2021 the seventh largest service exporter in the world, but has almost been overtaken by Singapore. The US has been the largest exporter of services for decades.
- In Belgium, the Netherlands was the second largest service provider with a share of 13.7% in 2021. The Netherlands mainly provides transport and business services to its southern neighbour.
The Netherlands as an international service consumer in 2021
- In terms of value, the Netherlands is the seventh largest service importer in the world. Annually, our country accounts for 4% of the globally imported services.
- The Netherlands is the most important destination for Belgian services, with Belgium mainly exporting transport services and business services. The Netherlands is also a major consumer of services from Barbados and Suriname.
Outline
In sections 4.2 and 4.3 we look at services trade with other countries from a Dutch perspective using CBS figures. Section 4.2 covers the main developments in Dutch services exports and in section 4.3 we look at Dutch services imports. Due to a method break, the growth figures in these sections are based on provisional recalculation until 2019. In sections 4.4 and 4.5, we switch perspectives and look with the eyes of the rest of the world. How important is the Netherlands as a service provider and buyer for other countries? In section 4.4 we describe the importance of the Netherlands in the total services imports of partner countries, and in section 4.5 we elaborate on the importance of the Netherlands in the total services exports of trading partners. This uses data from the OECD-WTO. More information on this data source can be found in section 4.6 Data and methods.
4.2Services exports by type of service and country
International trade in services is an important part of the Dutch economy. For a number of years now, services exports have contributed more than 10% to the GDP of the Netherlands, and 12.4% in 2021, the most recent year available. Nearly 1 million full-time jobs were directly or indirectly related to services exports in 2021. The Netherlands generates earnings from services exports through exports of transport services, payment services, technical services, such as those relating to petroleum and natural gas extraction, fees for the use of licences and intellectual property, expenditure by tourists and day visitors in the Netherlands, telecommunications, consulting and accountancy services, and many other types of international services.
Dutch services exports in 2022 far above level before coronavirus crisis
Dutch services exports totalled nearly €261 billion in 2022 (Figure 4.2.1). This is 22% more than in 2021 and 20% above the level of 2019, the last year before the coronavirus crisis. In 2020 and 2021, the Netherlands exported fewer services than in 2019, a contraction that was partly due to the COVID-19 pandemic and restructuring operations by enterprises as a consequence of changes to the tax system (Poulissen et al., 2022). Exports of travel services in particular slumped due to the travel restrictions in force in 2020 and 2021, which also caused sharp falls in exports of support services for travel (for instance, websites and platforms for booking accommodation and transport). Due to the lifting of the majority of coronavirus-related travel restrictions, it was exports of travel services that grew fastest in 2022 compared to the previous year.
| Jaar | Exports |
|---|---|
| 2014 | 153,8 |
| 2015 | 172,1 |
| 2016 | 164,0 |
| 2017 | 179,1 |
| 2018 | 199,9 |
| 2019 | 217,7 |
| 2020 | 200,2 |
| 2021* | 213,5 |
| 2022* | 260,8 |
Price rises and the growth of services exports
The current macroeconomic situation is characterised by an inflation rate that is remarkably high from a historical point of view. For various reasons, price levels of both goods and services have risen sharply over recent years. Energy and fuel prices, for example, started rising strongly from the end of summer 2021, and Russia’s invasion of Ukraine added more fuel to the fire in 2022. In addition, worldwide disruption of production chains due to the COVID-19 pandemic and trade conflicts, combined with a strong economic recovery in recent years and substantial catch-up demand for fuels from Asia, caused significant price rises. And while these strong price hikes were initially limited to specific product groups, inflation now appears to have spread throughout the entire economy.
High inflation rates also have an impact on the value of international services trade. International trade in services as measured by CBS refers to the total trade value, i.e., the total value of all services traded. This means that developments over time contain both a volume and a price effect. An increased trade value can therefore be the result of an increased volume of services, an increased price of these services or a combination of both factors. No detailed price indices are currently available at CBS with which the volume and price effect can easily be distinguished from each other within International Trade in Services statistics. However, it is possible to give an initial, rough indication based on the data that are known regarding the composition of GDP based on final expenditure (CBS, 2023).
If in Figure 4.2.2 we only look at the development of the volume of service exports and disregard price developments, we see that exports rose by 11.9% compared to 2021. Compared to 2019, the last year before the pandemic, the volume of service exports was only 1.5% larger in 2022. The price rises therefore explain nearly all the growth in service exports between 2019 and 2022. We do not currently have the volume developments broken down by service types or destination countries.
| Jaar | Export volume | Export prices | Import volume | Import prices |
|---|---|---|---|---|
| 2019 | 3.9 | 2.0 | -1.8 | 2.3 |
| 2020 | -10.3 | 1.2 | -10.8 | 1.4 |
| 2021 | 1.1 | 2.8 | -2.9 | 3.1 |
| 2022* | 11.9 | 6.6 | 10.5 | 7.8 |
Travel services once again fifth-largest service type in exports
Figure 4.2.3 shows the composition of Dutch services exports. Exports went up in 2022 from 2021 for all service types apart from financial services (€600 million less). Exports of other services (manufacturing services; financial services; insurance services; personal, cultural and recreational services; government services; maintenance and repair services; and construction services) individually make up only a small part of total Dutch services exports.
Travel services, at 6% of total export value in 2022, were once again the fifth-largest type of service, just as in 2019. This represented growth of 91% (+€7.4 billion) compared to 2021. In 2021, exports of travel services fell to €8.2 billion, less than 4% of the total. Exports of travel services therefore showed a substantial recovery in 2022, but they were not yet back up to 2019 levels. All other service types, with the exception of construction services, had a higher export value in 2022 than in 2019.
Share of transport services increases further
With a 30% share in total export value, business services have been the largest type of service in Dutch exports for years. In 2022, the export value was €16 billion higher than in the previous year. Exports of transport services experienced the second-fastest growth after travel services, reaching €60.6 billion in 2022. The previously mentioned sharply higher energy and fuel prices that are important in transport-related services played a major role in this development (see box). These services include passenger and freight transport by air and sea, together with related support services provided for non-Dutch individuals. They also include other transport services, such as freight and passenger transport, and support services for transport by rail, road, inland shipping and pipeline. These service types are related to goods transport and are important for Dutch exports, given the role of the Netherlands as a gateway to the European hinterland.
Exports of Dutch telecommunications, computer and information services grew less rapidly in 2022 than the other major service types. In 2022, the Netherlands exported €36.3 billion worth of this type of service, making it the fourth-largest among exports. These exports were up by €3.8 billion from 2021, a slightly smaller rise than for fees for the use of intellectual property. Exports of such fees generated €4.2 billion more than in 2021, which made them the third-largest type of service in Dutch exports.
| Jaar | Business services | Transport services | Intellectual property fees | Telecommunications, computer and information services | Travel services | Other |
|---|---|---|---|---|---|---|
| 2022* | 78.3 | 60.6 | 36.6 | 36.3 | 15.6 | 33.2 |
| 2021* | 62.0 | 47.7 | 32.4 | 32.5 | 8.2 | 30.7 |
| 2019 | 68.2 | 43.6 | 31.1 | 31.4 | 17.6 | 26.0 |
| 2015 | 49.4 | 34.3 | 20.9 | 34.8 | 12.4 | 20.5 |
Recovery of exports of travel services visible in several places
Figure 4.2.4 further breaks down the five largest service types in exports to see how exports of specific service types contribute to the total and how the export value is developing. Within exports of business services, the ‘trade-related and other business services’ category has the highest export value (€40.7 billion). This group includes services provided by architects, engineers, scientific and other technical services, services incidental to mining and oil and gas extraction, and operational leasing of aircraft, for example. It also includes platforms (for instance, for arranging travel, taxi services or accommodation). The absolute growth of professional and management consulting services in 2022 was slightly lower than the growth of other service types within business services. Examples of professional and management consulting services are legal services, accounting, bookkeeping and tax consulting services, business consulting, and public relations services, advertising and market research. Exports of R&D services totalled €5.6 billion in 2022 – higher than in 2021 but some €3.5 billion lower than in 2019. In 2018 and 2019, a few large enterprises were responsible for a spike in Dutch exports of R&D services; from 2020, the pattern seemed to be back in line with that of the period 2014 to 2017.
| Dienstensoort | 2022* | 2021* |
|---|---|---|
| Business services | . | . |
| R&D services | 5.6 | 5.2 |
| Professional and management consulting services |
32 | 27 |
| Trade-related and other business services |
40.7 | 29.9 |
| Transport services | . | . |
| Sea transport | 16.8 | 13.1 |
| Air transport | 18 | 14.1 |
| Other transport | 24.2 | 19.1 |
| Postal and courier services | 1.6 | 1.5 |
| Intellectual property fees | . | . |
| Franchises and similar rights | 16.8 | 13.1 |
| Fees for the use of R&D | 6.6 | 5.3 |
| Fees for the use of software | 2.4 | 2.2 |
| Fees for the use of audiovisual products |
10.8 | 11.8 |
| Telecommunications, computer and information services |
. | . |
| Telecommunication services | 4.4 | 3.9 |
| Computer services | 23.9 | 20.9 |
| Information services | 7.9 | 7.6 |
| Travel services | . | . |
| Business travel | 5.2 | 2.8 |
| Private travel | 10.4 | 5.3 |
Other transport services, which include freight transport as one of the most important transport services for the Netherlands, achieved an absolute increase in export value of €5.1 billion, the largest for any type of service. The next largest are exports of air transport services, at €18 billion, followed by sea transport services at €16.8 billion. These services include passenger and freight transport by air and sea, together with related support services, provided for foreign residents. Exports of fees for licences for the reproduction and distribution of audiovisual and related products, such as fees for music and film distribution rights, were actually lower in 2022 than in 2021. In exports of telecommunications, computer and information services, the largest were computer services. This type of service includes fees for the use of software or proprietary software rights. After two years of limited growth, exports of computer services picked up again in 2022 (+€3.0 billion).
Germany most important export partner in 2022
In 2022, Germany was the largest export market for Dutch services. The value of service exports to Germany totalled more than €35 billion in 2022, a rise of 30% compared to 2021. Of this growth, 42% could be attributed to increased exports of travel services, in particular expenditure by German travellers in the Netherlands for private purposes. Exports to the second-largest market, the UK, grew in business services and transport services in particular (see box on Brexit for further details). The growth of exports to the US (in third place) was limited by lower exports of financial services, among other factors. The export value of those financial services slumped from €4.9 billion in 2021 to €1.2 billion a year later, partly due to enterprises shifting money and investment flows. Exports of transport services and business services to the US in particular did grow between 2021 and 2022.
Germany was also the largest market for services exports in 2019 and 2021, but the gap between that country and the US and the UK as second and third-largest partners was significantly wider in 2022, as can also be seen in Figure 4.2.5. The other export markets in the top 5 in 2022 were Ireland (8.7%) and Switzerland (7.0%). The value of Dutch exports to Ireland was 42% higher in 2022 than in 2021. This growth is a result of the higher export value of a few enterprises specialised in supplying user licences. In 2022, Switzerland paid the Netherlands mainly for the use of intellectual property and for the purchase of services linked to the processing and handling of goods, and for transport services. Exports of transport services grew by €1.1 billion in 2022 compared to the previous year. For the second year in a row, Switzerland was a larger market for our services than Belgium, which shared sixth place with France, each with a 5.8% share in the total export value.
The five largest partners of the Netherlands obtained more than half of total Dutch services exports in 2022. In 2019, €101 billion worth of services were exported to the five largest markets, accounting for 47% of the total. If we look at the share in total exports that goes to the top 10 (70%) or top 25 (87%) of trading partners, we can see that a growing share of trade is concentrated on the largest destination countries. In 2019, 64% of service exports went to the ten largest partners and 85% to the top 25.
| Land | 2022* | 2021* | 2019 |
|---|---|---|---|
| Germany | 35,1 | 27 | 28,9 |
| UK | 30 | 25,7 | 25 |
| US | 26,7 | 26,4 | 22,3 |
| Ireland | 22,7 | 15,9 | 12,8 |
| Switzerland | 18,2 | 13,2 | 10,9 |
| Belgium | 15,2 | 12,2 | 12,3 |
| France | 15,2 | 11,6 | 11,8 |
| Italy | 7,5 | 5,8 | 6,2 |
| Sweden | 6,1 | 5,1 | 4,5 |
| Spain | 6 | 4,5 | 4,8 |
Service exports to UK growing despite Brexit
The Netherlands exported around €30 billion worth of services to the United Kingdom in 2022. That is 20% more than in 2019 and 17% more than in 2021. This continuing rise is striking, given that the UK formally left the European Union on 31 January 2020. Whereas goods exports to the UK showed very limited growth in 2021 – the first year in which the rules of the Internal Market no longer applied – and also increased relatively little in 2022 in relation to total export growth, exports of services have so far proved immune to the changes (see section 3.3 on goods exports in Chapter 3 of this publication). This may be because the Trade and Cooperation Agreement between the UK and the EU includes less explicit agreements on mutual service trade than on goods trade. The British figures for UK service imports also show strong growth, in spite of Brexit taking effect and the expected limitations associated with it (The Economist, 2023). It is possible that the limited access as a consequence of Brexit has less of an impact on services than on the goods trade and that it is so far easier for service traders to get services to the desired destination, whether or not by way of an indirect route.
Business services, including legal and accounting services, were the most important category of service exports to the UK in 2022, with a value of €9.8 billion. Almost one-third of service exports to the UK consist of business services. Transport services are the second-largest type of service. Far more exports of transport services went to the UK in 2022 than in 2019 and 2021. Expenditure by British tourists and business travellers during their stays in the Netherlands totalled €876 million in 2022. That is over four times more than in 2021, but still 38% less than in 2019, before Brexit took effect and before the outbreak of the COVID-19 pandemic.
Large share in business services to the US
The share of exports to the largest partners varies according to the type of service. Figure 4.2.6 shows the shares of the top 5 trading partners in the largest types of services. The US was the largest market for business services, taking 16% of the total. Nearly half of all services exported to the US consisted of business services. Germany took the largest share in transport services, at 16%. This is not surprising, as many goods are transported from the Netherlands to Germany by road and especially by inland shipping (Creemers et al., 2020). Ireland remains a relatively important market for Dutch exports of intellectual property. Even after the changes in tax rules, Ireland accounted for nearly 21% of all fees for intellectual property in 2022. Switzerland obtained nearly 14% of the total export value of this type of services from the Netherlands. Ireland was also the largest market for exports of telecommunications, computer and information services, with 19% of the export value, followed by the UK.
Nearly 45% of all exports of travel services went to Germany in 2022, with the lion’s share consisting of private travel services. The other major partners all took under €1 billion worth of travel services from the Netherlands. A large share in exports of financial services goes to the UK.
| Dienstensoort | Germany | UK | US | Ireland | Switzerland | Other |
|---|---|---|---|---|---|---|
| Business services | 11.9 | 12.5 | 15.6 | 6.3 | 3.7 | 50 |
| Transport services | 15.8 | 12.3 | 10.8 | 2.8 | 6.4 | 51.9 |
| Intellectual property fees | 6.9 | 10.1 | 4.4 | 20.6 | 13.7 | 44.3 |
| Telecommunications, computer and information services |
9.4 | 11.9 | 9.1 | 18.7 | 2.4 | 48.5 |
| Travel services | 44.8 | 5.6 | 3.8 | 0.9 | 1.1 | 43.8 |
4.3Services imports by type of service and country
In 2022, the Netherlands posted a trade surplus in the service trade. In the whole of 2022, exports of services exceeded imports by €10.7 billion. Consumers use part of the imported services directly, while another part is further processed by enterprises in their production processes. Chapter 7 of this publication examines the distribution of Dutch imports in more detail.
The value of Dutch services imports was some 19% higher in 2022 than the year before, with the total value being just over €250 billion (Figure 4.3.1). This is more than 16% above the 2019 level, so services imports have recovered completely from the dip experienced during the coronavirus crisis with regard to the trade value. In 2021, the import and export value of services were both still around €4 billion lower than in 2019. The growth in services imports, just as in exports, is mainly due to price rises. Compared to 2021, the volume of services imports grew by 10.5% in 2022, while the prices of services rose by 7.8% (CBS, 2023). The importance of price increases becomes clearer if we look at the development of the import volume between 2019 and 2022. The import volume of services in 2022 was still 4.3% lower than in 2019, the last year before the coronavirus crisis. The price rises are thus the only reason for the increase in total Dutch services imports compared to 2019 (see box in section 4.2 for more context on price developments).
| Jaar | Imports |
|---|---|
| 2014 | 148.4 |
| 2015 | 191.6 |
| 2016 | 164.7 |
| 2017 | 178.9 |
| 2018 | 202.1 |
| 2019 | 214.6 |
| 2020 | 190.8 |
| 2021* | 210.7 |
| 2022* | 250.1 |
Over one-third of import value from business services
The five largest service types accounted for 86% of total Dutch service imports in 2022 (Figure 4.3.2). More than 35% of Dutch import value consisted of business services in 2022. Transport services were second-largest with 19%.
Imports of transport services grew at a fast pace in 2022; in percentage terms, compared to 2021 (+27%), slightly faster than business services (+19%). The import value of transport services grew strongly, partly due to the increased energy and fuel prices, which are of major importance in transport-related services. Travel services saw the highest relative growth in 2022 compared to 2021. However, despite the lifting of travel restrictions, the import value of travel services was still lower than before the coronavirus crisis. Financial services, still the fifth-largest type of service in imports in 2021, were imported less in 2022 and dropped back to sixth place, just as in the period before 2020.
| Jaar | Business services | Transport services | Intellectual property fees | Telecommunications, computer and information services | Travel services | Other |
|---|---|---|---|---|---|---|
| 2022* | 87.9 | 48.3 | 36 | 24.7 | 18.9 | 34.2 |
| 2021* | 74 | 38.1 | 34.6 | 20.7 | 10.1 | 33.4 |
| 2019 | 76.7 | 33.5 | 37.1 | 17.7 | 20.8 | 28.8 |
| 2015 | 48.8 | 20.4 | 39.1 | 44.9 | 18 | 20.5 |
Strong absolute growth in imports of other transport services
Figure 4.3.3 provides a more detailed breakdown of the top 5 imported services, so that we can gain a better understanding of the specific services that play a key role in imports. In the case of business services imports, it is notable that professional and management services are the largest and they grew in importance in 2022 (25% higher import value than in 2021). R&D services play a smaller role, just as in the case of exports of business services. Within transport services, all categories grew compared to the previous year. Imports of other transport services have the largest share here at close to €29 billion; these are mainly services supporting inland shipping, road and pipeline transport. Imports of sea and air transport services grew relatively faster than other transport services compared to 2021, with a 35% rise for sea transport services and 43% for air transport services.
| Dienstensoort | 2022* | 2021* |
|---|---|---|
| Business services | . | . |
| R&D services | 7.9 | 7.2 |
| Professional and management consulting services |
50.6 | 40.5 |
| Trade-related and other business services |
29.5 | 26.3 |
| Transport services | . | . |
| Sea transport | 11.9 | 8.8 |
| Air transport | 6.3 | 4.4 |
| Other transport | 28.6 | 23.5 |
| Postal and courier services | 1.5 | 1.3 |
| Intellectual property fees | . | . |
| Franchises and similar rights | 15.6 | 14.8 |
| Fees for the use of R&D | 1.8 | 1.7 |
| Fees for the use of software |
8.1 | 8.2 |
| Fees for the use of audiovisual products |
10.4 | 9.9 |
| Telecommunications, computer and information services |
. | . |
| Telecommunication services | 4.7 | 3.7 |
| Computer services | 17.7 | 15.3 |
| Information services | 2.3 | 1.7 |
| Travel services | . | . |
| Business travel | 1.7 | 0.7 |
| Private travel | 17.2 | 9.4 |
Fees for the use of intellectual property were concentrated in franchises and similar rights in 2022. The import value of fees for the use of software, R&D and audiovisual products hardly changed compared to 2021. The low fees for the use of R&D are striking when compared to 2019, when the Netherlands paid €5.4 billion for imports of this type of services. As with exports of R&D services, there was an anomalous import pattern in 2018 and 2019, driven by fluctuations in the imports of a number of larger enterprises. The declining trend in the share of payments for intellectual property use was partly due to changes in the tax system and the subsequent shift of money and income flows by enterprises (Poulissen et al., 2022). After two years of strong contraction, imports of travel services increased again in 2022. Expenditure by Dutch tourists abroad exceeded €17 billion in 2022, growing by 83% compared to 2021.
United States by far the largest import partner
As in 2021, most services were imported from the US in 2022 (Figure 4.3.4). The level of imports from the US in 2021 was already 10% higher than in 2019, in contrast to other major partners such as Germany and the UK. Imports of services from Germany were lower in 2021 than in 2019, while imports from the UK remained at the same level. In 2022, imports from the US rose further to €47.3 billion, particularly due to increased payments for the use of intellectual property and more imports of business services. The value of services provided by the UK to the Netherlands in 2022 was €31.4 billion, putting the UK in second place as a supplier of services. The Netherlands imported 11% more in services from the UK than in 2021. The value of imports from Germany was still lower in 2021 than in 2019 because travel to Germany by Dutch tourists and business travellers plummeted in 2020 and 2021. The value of services imported from Germany grew by 27% from 2021 to a total of €28.4 billion in 2022: business services, travel services and transport services each contributed more than 20% to this growth in imports. For the other countries in Figure 4.3.4, the import value also increased between 2021 and 2022. It is notable here that imports from France, Ireland and Belgium in particular grew rapidly between 2021 and 2022. In 2022, imports from France, for example, were 35% higher than in the previous year. This growth was mainly driven by business services (+€1.8 billion). Switzerland ranked 10th as an origin country and, just as in 2021, it was less important to the Netherlands than in 2019. The shift in international money flows, which may be the consequence of changes in Dutch tax legislation, plays a role in this.
| Land | 2022* | 2021* | 2019 |
|---|---|---|---|
| US | 47.3 | 45.2 | 41 |
| UK | 31.4 | 28.3 | 28.2 |
| Germany | 28.4 | 22.4 | 24.3 |
| Ireland | 19.6 | 16.7 | 14.5 |
| France | 17.8 | 13.2 | 11.2 |
| Belgium | 16.2 | 13.7 | 12 |
| Spain | 7 | 5.4 | 6.2 |
| Italy | 6.8 | 5.5 | 5.8 |
| Poland | 5.7 | 4.8 | 4.3 |
| Switzerland | 5.2 | 4.5 | 8.9 |
India is largest Asian import partner for the Netherlands
Since 2019, India has been the largest Asian supplier of services to the Netherlands, which put it in 11th place. Moreover, imports from India grew faster in 2022 than imports from other major suppliers and they were up by €1 billion compared to 2021, totalling €5 billion (Figure 4.3.5). This was €1.5 billion more than service imports from China, which was in 12th place. The Netherlands mainly imported more telecommunications, computer and information services from India. In 2022, imports of this type of service were €2 billion higher than in 2015, when India ranked 18th in the list of import partners.
For the Netherlands, India is principally a supplier of services, rather than an export market. In 2022, India was in 22nd place among the most important export markets for Dutch services, behind China (20th place) and Japan (15th place), for example. Dutch exports of services to India were €1.8 billion higher in 2022 than their average value between 2015 and 2021, but exports to India are growing at a slower rate than imports. With the start of the coronavirus crisis in early 2020, the growth in exports seen in 2018 and 2019 came to an end. The value of service exports in 2022 was back at the same level as in 2019 and 50% higher than in 2021 (for further details of the Dutch service trade with India, see Herbers et al., 2023).
| Jaar | Exports | Imports |
|---|---|---|
| 2014 | 0.9 | 1.7 |
| 2015 | 0.9 | 1.8 |
| 2016 | 1.0 | 2.0 |
| 2017 | 1.2 | 2.4 |
| 2018 | 1.4 | 3.4 |
| 2019 | 1.8 | 3.6 |
| 2020 | 1.5 | 4.0 |
| 2021* | 1.2 | 4.0 |
| 2022* | 1.8 | 5.0 |
Compared to 2021, the share in total Dutch service imports of the three largest countries was slightly smaller in 2022. Just under 43% of all services imported in 2022 came from the US, the UK or Germany, whereas in the previous year, almost 46% originated from those three countries. Growth in imports from the US in particular and to a lesser extent from the UK was lower in percentage terms than for other major suppliers, such as France, Spain and Germany. Up to the end of 2018, imports were more spread out over various countries. For example, in 2017, less than a third of total imports came from the same three largest partners.
Large share in payments for use of intellectual property go to US
Figure 4.3.6 shows the shares of the five largest trading partners for each type of service. The UK accounts for 16% of business services but the Netherlands also imported a significant share in these services from the US (15%) and Germany (12%). Germany is the largest import partner for transport services, followed by France. Many goods are transported from the European hinterland to the Netherlands by road and inland shipping. Payments for the use or distribution of intellectual property are mainly made to the US (€21.8 billion) and to a lesser extent to Ireland (€6.9 billion). The five most important import countries together make up 90% of the import value of these services. For travel services, in particular private travel, 17% of the total originated from Germany in 2022. This type of services comes from many different countries, in contrast to the other major types. The Dutch enjoy travelling to Germany and France, but also to many other countries, and there are also a variety of destinations for business travel. The five largest suppliers were only responsible for 38% of travel services.
| Dienstensoort | US | UK | Germany | Ireland | France | Other |
|---|---|---|---|---|---|---|
| Business services | 14.9 | 16.2 | 11.5 | 8.5 | 6.8 | 42 |
| Transport services | 5.7 | 6.9 | 13.5 | 3 | 12.5 | 58.4 |
| Intellectual property fees | 60.7 | 5.3 | 3.6 | 19.3 | 1.4 | 9.7 |
| Telecommunication, computer and information services |
17.9 | 15.1 | 10.2 | 10.3 | 3.4 | 43.2 |
| Travel services | 5.1 | 4.8 | 17.3 | 0.5 | 10.2 | 62.1 |
4.4Importance of the Netherlands as a supplier of services to other countries
The international service trade is on the rise and international figures show that the importance of services in a digitalising world is increasing faster than the contribution of the goods trade to the economy (Loungani et al., 2017). According to Baldwin (2022), intermediate services – services for an enterprise and not for a customer – are even the future of globalisation. Services are growing in importance due partly to the removal of digital barriers. Although the contribution of the service trade to global GDP (14% in 2019) is not yet close to that of the goods trade, the latter category does not seem to be returning to its 2008 peak. In that year, the trade in goods contributed 50% to global GDP and by 2019, the contribution had dropped to 43% (Baldwin, 2022). The service trade is thus important for the economy and the previous sections (4.2 and 4.3) and Figure 4.4.1 showed that the UK, the US and Germany are the main partner countries for the international service trade from the Dutch perspective. But how important is the Netherlands for other countries with regard to their international service trade? In which countries does the Netherlands have a large share in service imports, and has this share grown in recent years, or not? How important is the Netherlands to other countries as a supplier of services? In addition to the importance of the Netherlands, we also look at its position in the global service trade.
OECD and WTO figures are used for the analysis of the Netherlands’ position in the international service trade (OECD, 2023a). Because the exports to Germany reported by the Netherlands are not the same as the imports from the Netherlands reported by Germany, the OECD and the WTO have created a balanced dataset (Fiallos & Liberatore, 2023). Further information on this data source can be found in section 4.6 Data and methods.
The Netherlands is world’s seventh-largest exporter of services
In 2021, the seven largest service exporters accounted for 47.2% of global exports of services. The US, the UK and Germany are the world’s largest service exporters (Figure 4.4.2). The UK’s share has been declining over the years. This is linked to the limited growth in the trade in insurance services, fees for the use of intellectual property, and telecommunications, computer and information services, compared to the growth shown by the global trade in those service types. However, Brexit appears to have less of an impact on the service trade than on the goods trade (see box on Brexit in section 4.2). The share of Singapore, which is in eighth place, increased rapidly, because it has implemented reforms in recent years to reduce trade restrictions in the services sector (OECD, 2023b). The Netherlands was the world’s seventh-largest service supplier in 2021. The Netherlands’ service exports consist mainly of business services; transport services; telecommunications, computer and information services; and fees for the use of intellectual property (see section 4.2). The expertise of the Netherlands in these services makes our country a major service exporter.
With the start of the coronavirus crisis in 2020, service exports worldwide dropped in value by 17.4% compared to 2019. However, global exports recovered over the course of 2021, rising by 16.6% in relation to 2020. There is heterogeneity in the impact of the crisis on the service trade across countries and service types (Arriola et al., 2022). While most of the largest suppliers saw their shares in global exports increase from 2019, for Japan and the Netherlands, this shock led to a decline in their share in global exports in 2021. The Netherlands’ share in global service exports fell from 4.2% in 2019 to 3.7% in 2021. The decline in the Dutch share may be partly related to the fact that some large multinationals that previously channelled part of their international financial flows through the Netherlands have now shifted these flows abroad (see Poulissen et al., 2022, among others). In doing so, enterprises may have been responding to changes in the tax treatment of multinationals in the Netherlands that had either already been implemented or had been announced. These rules make it less attractive for multinationals to channel certain income flows through the Netherlands. The Netherlands saw China and Ireland pass it in the rankings of the largest service exporters. China’s share in global exports rose by 1.1 percentage points and Ireland saw a rise of 1.3 percentage points compared to 2019.
| Jaar | US | UK | Germany | China | Ireland | France | Netherlands |
|---|---|---|---|---|---|---|---|
| 2005 | 14.9 | 8.8 | 6.5 | 3.3 | 2.3 | 5.3 | 4 |
| 2006 | 14.7 | 8.9 | 6.5 | 3.4 | 2.3 | 5.2 | 3.9 |
| 2007 | 14.6 | 8.8 | 6.5 | 3.6 | 2.4 | 5.2 | 3.9 |
| 2008 | 14.2 | 8.1 | 6.5 | 3.7 | 2.3 | 5.2 | 3.9 |
| 2009 | 15 | 7.9 | 6.5 | 3.5 | 2.3 | 5.1 | 4.1 |
| 2010 | 15.3 | 7.6 | 6.1 | 3.9 | 2.3 | 4.7 | 3.9 |
| 2011 | 15.1 | 7.6 | 6 | 3.9 | 2.3 | 4.9 | 3.9 |
| 2012 | 15.6 | 7.5 | 5.9 | 3.9 | 2.2 | 4.8 | 3.7 |
| 2013 | 15.7 | 7.5 | 6 | 3.8 | 2.3 | 4.7 | 3.9 |
| 2014 | 15.7 | 7.5 | 6 | 3.8 | 2.4 | 4.8 | 4 |
| 2015 | 16.4 | 7.6 | 5.9 | 4 | 2.6 | 4.6 | 4 |
| 2016 | 16.6 | 7.4 | 6 | 3.9 | 2.8 | 4.6 | 3.9 |
| 2017 | 16.1 | 7.2 | 6 | 3.8 | 3.1 | 4.5 | 4 |
| 2018 | 15.3 | 7.2 | 6 | 4 | 3.4 | 4.5 | 4.2 |
| 2019 | 15.2 | 7 | 5.8 | 3.9 | 3.6 | 4.3 | 4.2 |
| 2020 | 16.2 | 7.6 | 6.2 | 4.4 | 4.7 | 4.2 | 3.9 |
| 2021 | 15.7 | 7.3 | 6.3 | 5 | 4.9 | 4.3 | 3.7 |
The Netherlands is very important for Belgium’s service imports
In 2021, 13.7% of all services imported by Belgium came from the Netherlands. No other country with services imports of at least US$1 billion from the Netherlands sourced a larger share in total services imports from our country (Figure 4.4.3). This made the Netherlands the second-largest supplier of services to Belgium, after France. In 2021, 6.5% of total German service imports originated from the Netherlands, which made it Germany’s third-largest import partner, after the US and the UK. However, this share was 0.5 percentage points lower than in 2019. In France and Ireland, too, the share in imports from the Netherlands fell between 2019 and 2021. From the Dutch perspective, the decline was connected with the reduction in travel, among other things. In addition, in the case of Ireland, the decline is probably overestimated because it appears that a number of large flows of exports to Ireland are wrongly considered to be service trade in the OECD-WTO figures up to and including 2019. In the CBS figures from 2020 onwards, a correction has been made for a number of flows which, upon closer inspection, should not be characterised as international service trade. This correction has been made for longitudinal analyses in the figures up to and including 2019 but may not be reflected in the international OECD-WTO figures.
The steep decline in the importance of the Netherlands as a supplier to the Irish import market coincides with a reduction in Bermuda’s importance and a doubling of the US share in Irish imports. This doubling is mainly due to a strong increase in fees for the use of US intellectual property. With the phasing out of the ‘Double Irish arrangement’ between 2015 and 2020, US multinationals (with Irish business establishments) were discouraged from providing intellectual property from tax havens such as Bermuda. Furthermore, the Tax Cuts and Jobs Act made it attractive for US multinationals to provide intellectual property from the US. As a result, Irish business establishments of US multinationals began more frequently to pay fees for intellectual property provided from the US, at the expense of payments through Bermuda (Coffey, 2021; Garcia-Bernardo et al., 2022).
| Land | 2021 | 2019 |
|---|---|---|
| Belgium | 13.7 | 14.6 |
| Poland | 7.1 | 6.4 |
| Finland | 6.9 | 6.6 |
| Germany | 6.5 | 7 |
| Ireland | 6.4 | 12.2 |
| Sweden | 6.4 | 6.3 |
| Romania | 5.9 | 5.2 |
| UK | 5.8 | 5.5 |
| France | 5.2 | 5.6 |
| Spain | 5 | 4.5 |
| 1) Countries with services imports from the Netherlands worth at least US$1bn in 2021. | ||
The CBS figures show that Poland imported a higher value of transport services, fees for the use of intellectual property, and telecommunications, computer and information services from the Netherlands. This increased the Dutch share in Polish imports between 2019 and 2021 and the Netherlands was the second-largest supplier of services after Germany. In spite of Brexit taking effect in 2021, the Netherlands grew in importance for UK service imports. In section 4.2, we saw that from the Dutch perspective, Brexit did not cause any decline in exports of services to the UK. The rise in exports of Dutch services to the UK was particularly in transport services and telecommunications, computer and information services, and was achieved in spite of a decline in private and business travel. The import value of freight transport services by road, maritime shipping and other transport services increased, due in part to the rise in freight container prices during the coronavirus crisis (Business Insider, 2021).
The Netherlands was not the largest supplier of services to any of the countries that imported at least US$1 billion worth of services from our country in 2021. It is striking that the Netherlands has a relatively small share in service imports from a number of major service exporters. Services originating from the Netherlands make up less than 3% of total imports of services by the US, China and Japan. Those three countries imported more services from at least nine other countries than they did from the Netherlands in 2021.
Dutch share in Bulgarian service imports grows
If we look at service importers with less than US$1 billion in imports from the Netherlands, we see that our country has an 11.2% share in Suriname’s service imports (Figure 4.4.1). This makes the Netherlands that country’s second-largest supplier of services. Suriname mainly imports travel services and transport services from the Netherlands, according to the CBS figures. The Dutch share in Surinamese imports rose because total imports of services by Suriname fell faster than imports from the Netherlands. Iceland sourced 10% of its service imports from the Netherlands in 2021, which was 2.1 percentage points more than in 2019. Although Iceland’s total service imports declined over that period, imports from the Netherlands increased. This pushed up the Netherlands’ share and made it the third-largest supplier of services, after the US and the UK. Dutch transport services are dominant in Iceland’s imports and they have increased in value over the years. The Dutch position in Bulgaria’s imports of services has improved: the Netherlands rose three places to the sixth position between 2019 and 2021. CBS figures show that Dutch enterprises mainly exported more business services, travel services and engineering services to Bulgaria.
4.5Importance of the Netherlands as a service market for other countries
In this section, we set out how important the Netherlands is as a service customer for other countries. In addition to the importance of the Netherlands, we also consider its position.
The Netherlands is world’s seventh-largest importer of services
Figure 4.5.1, featuring the largest importers of services, mainly shows the same countries as those that make up the seven largest service exporters in the world (Figure 4.4.2). With a combined share of 44.1%, these seven countries are slightly less important for global imports of services than for global exports (47.2%). The Netherlands was the world’s seventh-largest importer of services in 2021, with a 3.9% share. The US is the largest importer of services. The UK, the world’s second-largest exporter of services, is two places lower for service imports, ranking fourth. China and Germany outranked the UK in 2021 as importers of services. It is also worth noting that service imports of both the US and the UK are substantially lower than their service exports, while China imports services to a significantly higher value. The Dutch share in global imports was 0.2 percentage points lower in 2021 than in 2019. While Ireland’s share increased between 2019 and 2020, its share in global imports fell sharply in 2021 due to a decline in imports of business services. The share in global imports grew strongly for the two largest importers: the US (+0.5 percentage points) and Germany (+0.3 percentage points).
| Land | US | Germany | China | UK | Ireland | France | Netherlands |
|---|---|---|---|---|---|---|---|
| 2005 | 13 | 7.9 | 3 | 7.7 | 2.8 | 4.8 | 3.8 |
| 2006 | 13 | 7.6 | 3.1 | 7.6 | 2.6 | 4.7 | 4 |
| 2007 | 12.3 | 7.5 | 3.3 | 7.4 | 2.7 | 4.7 | 4.1 |
| 2008 | 11.8 | 7.4 | 3.5 | 6.9 | 2.8 | 4.7 | 4.1 |
| 2009 | 12.4 | 7.1 | 3.8 | 6.7 | 2.9 | 4.7 | 4.2 |
| 2010 | 12.3 | 7 | 4.3 | 6.5 | 2.8 | 4.5 | 3.6 |
| 2011 | 11.9 | 7 | 4.7 | 6.3 | 2.8 | 4.5 | 3.6 |
| 2012 | 12 | 6.8 | 5.2 | 6.2 | 2.5 | 4.3 | 3.4 |
| 2013 | 11.4 | 7 | 5.6 | 6.1 | 2.4 | 4.5 | 3.4 |
| 2014 | 11.4 | 6.8 | 6.3 | 6.2 | 2.7 | 4.6 | 3.8 |
| 2015 | 11.8 | 6.4 | 7 | 6.4 | 3.2 | 4.4 | 4 |
| 2016 | 12 | 6.6 | 7.1 | 6.3 | 3.8 | 4.4 | 3.7 |
| 2017 | 11.7 | 6.7 | 6.8 | 6.3 | 3.8 | 4.3 | 3.9 |
| 2018 | 11.4 | 6.6 | 7 | 6.4 | 3.8 | 4.3 | 4.1 |
| 2019 | 11.7 | 6.4 | 6.7 | 6.2 | 5.6 | 4.1 | 4 |
| 2020 | 11.9 | 6.5 | 6 | 6.1 | 6.3 | 4.2 | 4 |
| 2021 | 12.5 | 6.7 | 6.1 | 6 | 4.8 | 4.1 | 3.9 |
The Netherlands is the largest market for Belgian services
For Belgium, the Netherlands is the most important market for services. Belgian exports to the Netherlands mainly consist of transport services and business services, according to CBS figures. In 2021, the Netherlands was the destination for 16.3% of all the services exported by Belgium (Figure 4.5.2). Belgium is also the only country in Figure 4.5.2 for which the Netherlands is the largest market for services. In addition to Belgium, the Netherlands has a large share in the service exports of Barbados. This share declined to 14.7% in 2021, with the result that the Netherlands was overtaken by the US as the most important market for services from Barbados. The Netherlands has an 8% share in Romania’s service exports. According to CBS figures, the Netherlands mainly imports transport services and business services from Romania. This makes the Netherlands the third-largest market for services from Romania, after Germany and the UK.
For many countries that export more than US$1 billion worth of services to the Netherlands, the share in services exports destined for our country was larger in 2021 than in 2019. However, Dutch imports of German services were 0.6 percentage points lower, which pushed the Netherlands down from third to fifth place on the list of the largest markets. This can be explained by, among other things, the travel restrictions imposed due to the coronavirus crisis, which resulted in a smaller flow of travel services from Germany to the Netherlands in 2021 than in 2019. In 2021, the Netherlands was the fourth-largest market for services from the UK, largely due to imports of business services and telecommunications, computer and information services. The provision of business, transport and travel services, as well as services linked to the processing and handling of goods, make the Netherlands the fifth-largest market for services from France. More than 6% of all services from the UK and France went to the Netherlands.
The share of Dutch service exports was under 3% in a number of other large importers of services, such as China, Japan, Singapore and Switzerland. The Netherlands plays a more important role in relation to US export figures than US imports. It was in 10th place among markets for US services, taking 4.1% of service exports from the United States.
| Land | 2021 | 2019 |
|---|---|---|
| Belgium | 16.3 | 15.5 |
| Barbados | 14.7 | 29.3 |
| Romania | 8 | 6.5 |
| Poland | 7.7 | 6.7 |
| France | 6.3 | 5.6 |
| UK | 6.3 | 6.1 |
| Germany | 6.3 | 6.9 |
| Ireland | 6.1 | 4.4 |
| Spain | 5.8 | 4.8 |
| Malta | 5.7 | 6.5 |
| 1) Countries with services exports destined for the Netherlands worth at least US$1bn in 2021. | ||
The Netherlands is a major customer for Aruba and Curaçao
For a number of countries that export less than US$1 billion worth of services to the Netherlands, the Dutch market was a major destination for service exports. In Suriname, the Netherlands was the largest market in 2021, with 14.7% of total service exports. However, that share did decline compared to 2019. Dutch imports of travel services from Suriname fell between 2019 and 2021, as a consequence of the travel restrictions in force. Due to the large share of Dutch travel services in total service exports from Suriname, the Netherlands’ share in this market saw a relatively sharp fall of 2.8 percentage points. In addition, the Netherlands is the third-largest export partner for Curaçao, with 9.5% of total exports, and Aruba’s second partner, with a share of 8.3%. In particular, the Netherlands sources travel services from these two islands. The main reason for the rise in the Dutch share is that expenditure by Dutch tourists on those islands declined less than the islands’ total service exports.
4.6Data and methods
Service flows are more difficult to observe than goods flows due to their intangible nature. Whereas the goods trade is physical in nature and border crossings are easily measurable, a cross-border service flow is less noticeable. This is even more the case when the service is delivered digitally (Fortanier, 2018; Liberatore & Wettsein, 2021). Due to this complexity, only 65 countries provide bilateral service trade statistics. Not all countries break this delivery down by type of service or trading partner (Fiallos & Liberatore, 2023). It is predominantly OECD countries, in particular EU countries, that report bilateral trade in services, rather than just unilateral imports and exports (Fiallos & Liberatore, 2023). This makes it difficult to form a picture of the Dutch share in international service trade outside Europe. This asymmetry in service trade figures is what the OECD’s BaTIS dataset is trying to resolve, in cooperation with the WTO. BaTIS stands for ‘Balanced Trade in Services’ and aims to provide the best possible estimate of unreported service flows.
For BaTIS, the OECD and WTO collect data from the OECD, Eurostat, UN COMTRADE, National Statistical Institutes and additional national sources (Liberatore & Wettsein, 2021). This results in a matrix of bilateral trade flows. Missing flows are then estimated in various ways. Since the largest amount of information and the most reliable information can be found at the highest level of aggregation, a top-down approach is used to make estimates. This means that the flow of total service trade is estimated first and only afterwards differentiated by service types. In this way, consistency is maintained.
If some figures on trade with partner countries are known for a reporting country, the missing values are estimated via backcasting, interpolation and nowcasting (Liberatore & Wettsein, 2021). If there is no official information on trade with partner countries, flows are assigned via a gravity model based on the size of a country’s economy (for instance, GDP and volume of service trade) and trading costs between the two countries (for instance, geographical distance and having a common language).
Finally, the asymmetry in values between the reporting country and the partner country is revalued based on a weighted average. This weighted average incorporates the degree of over/undervaluation of flows through countries via an asymmetry index. In this way, more importance is given to measured flows or a reliable estimate thereof (Liberatore & Wettsein, 2021). This averaging is also carried out using a top-down approach, resulting in a balanced and comprehensive dataset of global trade in services. It should be taken into account that these are estimates which, by definition, may be less accurate for small service flows and a lower level of aggregation.
4.7References
References
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