Executive Summary

Geopolitical shocks continue to have a significant impact on the international trade system worldwide. For instance, the United States and China are engaged in fierce economic competition driven by protectionist policies and trade rules aimed at reshaping value chains. The ongoing war in Ukraine highlights the immense impact of geopolitical events on global trade: strict trade sanctions on both sides and the complete restructuring of the European markets in energy and raw materials. The conflict between Israel and Hamas in Gaza is leading to significant instability in a key region for many global supply networks: another example of a geopolitical shock that is affecting world trade.

With Brexit and the COVID-19 crisis (and the associated global lockdowns and disruptions in production chains) still fresh in the memory, unchecked globalisation is also subject to increasing scrutiny. Calls for less dependence on foreign countries are growing louder, particularly in areas like medicines, energy, and critical raw materials, for instance. Terms like ‘offshoring’ and ‘outsourcing’ are increasingly being replaced in societal debates by ‘re-shoring’, ‘near-shoring’, ‘friend-shoring’, and ‘decoupling’. The coming years will reveal to what extent Dutch firms are adopting these strategies. Globally, many firms seem to be exploring the opportunities for parallel supply chains in order to become more resilient. Geopolitical events are not the only reason for this shift in attitudes. Global poverty and inequality, the effects of climate change, and technological developments – particularly in artificial intelligence – are also casting a new light on globalisation.

The latest news on globalisation and other reports, such as the Internationalisation Monitors, can be found in our Globalisation dossier.

Dutch Trade in Facts and Figures 2024: Export, import and investments is published by the CBS Expertise Centre for Globalisation at the request of the Dutch Ministry of Foreign Affairs. It aims to provide objective information for a broad readership on internationalisation trends in Dutch business and the Dutch economy more generally. Furthermore, it offers independent data for trade policy decisions by the Ministry of Foreign Affairs. The publication provides data tables with annually recurring key figures as well as an outline of the main events behind these figures.

Listed below are some of the main findings presented in this editionnoot1:

Chapter 2: Major developments in 2022 and 2023

This chapter focuses on important recent economic developments. The first paragraph provides an overview of trends in the trade in goods between the Netherlands and China, compared to trade with other Asian countries. The second section describes trends in the trade in critical raw materials and products that contain critical raw materials. The third and last section switches the focus to the United Kingdom and describes trends in trade with this country four years after Brexit.

Trade in goods with China and other Asian countries

• China is the biggest Asian supplier of goods to the Netherlands by far. The importance of China within Dutch trade with South, East and Southeast Asia has not changed dramatically since 2015. Nevertheless, the Chinese share of total Dutch imports of goods has decreased slightly in recent years. This is partly due to lower Chinese export prices in 2023. The value of imports of Chinese phones, computers, office machines and televisions has risen less than that of imports from other Asian countries.
• When it comes to goods exports from the Netherlands, the importance of China has increased in recent years but this is mainly due to one product group: specialised machines and equipment. Without this product group, exports to China would have grown less than exports to other Asian countries in the period 2021–23.
• China is the biggest purchaser of Dutch goods bound for South, East and Southeast Asia, but the difference with other countries is smaller than is the case for Dutch imports, and the value of Dutch exports to China is also significantly lower than the value of Dutch imports from China.
• The number of Dutch goods traders who trade with China is much larger than those trading with other countries in the Asian region, and China is also home to the most enterprises that are ultimately controlled in the Netherlands. The number of Dutch goods traders with India and Vietnam grew significantly in the period 2015–2021.
• There are a number of reasons why enterprises make changes with respect to the countries they trade with. This can happen due to geopolitical risks or because of totally unrelated factors such as growing wage differences between China and other Asian countries. It is also possible for trade routes to change without any fundamental changes to the production chain. This research does not provide any insights regarding the specific motives for the changes made by enterprises.

Imports of products containing critical raw materials

• The Netherlands is a major importer of products containing critical and strategic raw materials, but the vast majority of these imports ultimately end up abroad. These are mainly part of the transit trade or re-exports, although a smaller quantity of goods are exported after the raw materials have been processed in the Netherlands. In relative terms, more of the imports of products containing critical raw materials are destined for the Dutch market. Moreover, the import value of products containing critical raw materials is much larger than the import value of critical raw materials.
• Aluminium, nickel, coking coal and copper are mostly imported as raw materials by the Netherlands. Many products containing aluminium, nickel and copper are also imported. This is not the case for coking coal, since this is hardly ever found as an element in other products. Rare earth metals and scandium are, by contrast, hardly ever imported as raw materials but are found in many other products imported by the Netherlands.
• China is the ninth largest supplier of critical and strategic raw materials to the Netherlands, but is the leading supplier of products containing critical raw materials to the Netherlands.
• Phones, laptops/tablets, medical supplies and solar panels are among the main imported products containing critical raw materials. When it comes to imports from China, laptops/tablets, solar panels and phones predominate.

Trade in goods with the UK four years after Brexit

• The export of goods to the United Kingdom has lagged behind exports to other countries since Brexit, primarily due to a drop in re-exports. Additionally, the quasi transit of goods to the UK has declined significantly. Conversely, Dutch re-exports and quasi transit to other countries have seen a substantial increase.
• The value of domestic exports to the UK increased during the period 2015–2023, and also the period 2022–23. This includes products such as food and beverages and mineral fuels. However, in Q1 of 2024, the value of domestic exports fell slightly.
• In terms of exports, since Brexit the balance between re-exports and domestic exports has shifted in favour of the latter.
• Imports from the UK have kept pace reasonably well with imports from other countries, but the import value declined sharply in 2023. This was likely due to a significant fall in the price of mineral fuels.
• British data indicates that UK trade with the Netherlands did not decline more than UK trade with other (EU-)countries.

Chapter 3: International trade in goods

Dutch goods exports in 2023

• Dutch goods exports declined by 5.9 percent in 2023, to a total of 686.6 billion euros. Re-exports fell by 6.7 percent, slightly more than the 5.1 percent drop in domestic exports.
• This decline in export value was due to a drop in both volume and price, with the price decrease (–‍3.2 percent) playing a larger role than the volume decrease (–‍2.7 percent).
• Notably, the lower price of mineral fuels and chemical products, along with the decline in the volume of mineral fuels, contributed to the absolute decrease in the value of goods exported in 2023.
• Europe remained the primary export destination, as in previous years, with 77 percent of Dutch export value going to European countries. Germany, Belgium and France were again the Netherlands’ most important markets for Dutch goods within Europe in 2023.
• Machines and equipment were the most exported items (by value) in 2023, followed by manufactured goods and mineral fuels.

Dutch goods imports in 2023

• Dutch goods imports fell by 8.9 percent to a total of 614.9 billion euros in 2023, a steeper decline than goods exports.
• The decrease in import value was due to a 5.5 percent price decline and a 3.4 percent drop in volume.
• The lower price of imported mineral fuels and chemical products was largely responsible for the decline in import value, along with the volume decline in imported manufactured goods and mineral fuels.
• The most important import categories by value were manufactured goods and machines and equipment. Mineral fuels dropped to the third most significant import category.
• Germany, the US and Belgium were the primary countries of origin by import value. Imports from Russia and China declined significantly in 2023.

Importance of the Netherlands in world exports and imports

• In 2022, the Netherlands accounted for 2.9 percent of global exports. In terms of global goods exports, the Netherlands ranked sixth after China, the US, Germany, Japan and South Korea. China exported the most goods of any country in the world, with a share of exports of 15.7 percent in 2022.
• Globally, the Netherlands ranked sixth as a goods importer in 2022, following the US, China, Germany, Japan and France. The Netherlands contributed 3.3 percent to global goods imports in 2022. The US remained the largest importer with a share of total goods imports of 13.1 percent by trade value.

How important is the Netherlands as a trading partner for other economies?

• Of all goods imported into Belgium in 2022, nearly 19 percent (by value) came from the Netherlands, making it the top country of origin for Belgian goods imports. For Sweden and Germany, the Netherlands was the second most important supplier.
• The Netherlands increased its share of Austrian and Taiwanese goods imports in 2022 compared to the previous year. However, the Dutch share of German, UK and Czech goods imports decreased.
• The Netherlands is also a significant destination for goods exported from various countries. In 2022, 27 percent of all goods exported from Iceland were destined for the Netherlands, making it Iceland’s primary export destination. Similarly, the Netherlands ranked first for goods exports from Cameroon, and was the third for Belgium in 2022.
• The Dutch share in Norwegian goods exports decreased in 2022. However, the Netherlands increased its share of goods exports from Hong Kong in 2022. The Dutch market share of Russia’s export value was 4.5 percentage points lower in 2022 compared to 2021, before the war broke out in Ukraine.

Chapter 4: International trade in services

Dutch services exports in 2023

• In 2023, the Netherlands exported services worth 290.8 billion euros to foreign countries. This represents a 5.5 percent increase compared to 2022.
• Based on the National Accounts – which exclude Special Purpose Entities (SPEs) – there was an increase in services exports of 4.8 percent. The export volume is estimated to have decreased by 1.3 percent compared to 2022, while export prices are estimated to have risen by 6.2 percent. This indicates that the growth in export value was entirely attributable to significantly higher export prices.
• With a share of 30.5 percent, business services were once again the largest category of services exported by the Netherlands by value in 2023. Transport services and telecommunication, computer, and information services complete the top three.
• Germany, the US, UK, Ireland and France were the main destinations for Dutch services exports in 2023. These five largest export partners accounted for 47.6 percent of the Dutch services export. The Germans, Americans, and British primarily purchased business services and transport services from us.
• The US was the most important destination for Dutch business services in 2023. For the export of telecommunication, computer, and information services, Ireland was the top destination. Germany was the largest recipient of Dutch transport services by value in 2023.

Dutch services imports in 2023

• In 2023, the total import of services increased by 4.8 percent compared to 2022, amounting to 273.3 billion euros.
• Based on the National Accounts – which exclude Special Purpose Entities – there was an increase in services imports of 8.2 percent. The import volume increased by much less than import prices, at 0.5 percent and 7.7 percent, respectively.
• Business services dominated imports in 2023 with a share of 34.9 percent, followed by transport services and charges for the use of intellectual property.
• The US, UK, Germany, Ireland and France were the main sources of services imports into the Netherlands in 2023. These five largest import partners accounted for 57.5 percent of the Dutch services imports. Charges for the use of intellectual property dominated imports from the US. For imports from the UK, it was business services. Services imports from Germany consisted mainly of business services and transport services.
• The UK was the most important supplier of business services to the Netherlands in 2023, while Germany was the main supplier of transport services. In terms of value, US imports were dominant in charges for the use of intellectual property in 2023.

The Netherlands as an international service provider in 2022

• The international figures are sourced from the World Trade Organization (WTO) and the Organisation for Economic Co-operation and Development (OECD). The most recent figures are from 2022.
• 2022 was a record year for the international trade in services, with the highest value of services ever traded in global terms.
• In 2022, the Netherlands provided 3.8 percent of all globally exported services, making it the ninth-largest services exporter in the world. The US is the largest services supplier by far.
• In Belgium, the Netherlands was the largest service provider. In 2022, 13.8 percent of Belgium’s service imports came from the Netherlands. The Netherlands is a prominent supplier of services related to freight transport as well as business services.

The Netherlands as an international service consumer in 2022

• In 2022, the Netherlands imported 4 percent of all globally imported services, making it the seventh-largest services importer in the world by value. The US, China and Germany are the largest importers of services in the world, although China’s importance has declined significantly in recent years.
• Belgium exports the most services to the Netherlands; 13.6 percent of Belgium’s total services exports are destined for the Netherlands. Romania and Lithuania also export a relatively large amount of services to the Netherlands, primarily due to the freight transport sector.

Chapter 5: Foreign direct investment and multinationals

Foreign direct investment (excluding SPEs)

• As in 2021 and 2022, the US and the UK remained the most important partner countries for both Dutch inward FDI and outward FDI in 2023.
• Total inward FDI fell to 3 404 billion euros in 2023, a decrease of 8 percent compared to 2022. Total outward FDI amounted to 4 245 billion at the end of 2023, a decrease of 6 percent from the previous year. For both incoming and outgoing investments, this is the lowest level in five years.

Multinationals in the Netherlands

• In 2022, there were around 26.4 thousand Dutch multinational firms, representing 2 percent of the Dutch business economy. However, at 98 percent, the majority of the Dutch business economy was still made up of non-multinationals, two-thirds of them operating as self-employed persons.
• Some 19 percent of jobs in the Dutch business economy were provided by foreign multinationals and 18 percent by Dutch multinationals. Dutch multinationals employed more people, in relative terms.
• Foreign and Dutch multinationals were most likely to be active in the wholesale and retail trade sector, at 37 percent and 30 percent respectively, compared to 20% of the total Dutch business economy.
• A quarter of employment in the Netherlands was provided by the wholesale and retail trade sector. This picture was unchanged compared to previous years. For multinationals, the share of employment in the wholesale and retail trade sector was even higher at 29 percent.
• In 2022, about 1 in 5 foreign multinationals in the Netherlands were from the US (3,130 firms). Neighbouring countries also accounted for a significant proportion of foreign multinationals active in the Netherlands. Germany, the UK, Belgium and France together accounted for about 44 percent of foreign multinationals in the Netherlands.
• In absolute terms, firms from Germany, France and the UK topped the list of largest employers. Belgian multinationals provided relatively few jobs in the Netherlands. While US and German multinationals employed an average of 85 and 76 people, respectively, Belgian multinationals employed an average of 38.
• Swiss multinationals in the Netherlands generated the most turnover per employee (FTE). In 2022, it was 1,446 thousand euros per employee (FTE), an increase of 21 percent compared to the previous year. Chinese multinationals and US multinationals followed in second and third place.
• Multinationals exported goods worth 411.0 billion euros and imported goods worth 482.3 billion euros in 2022. In services, the export value was 207.9 billion euros and an import value of 193.5 billion euros. Multinationals thus had a trade deficit in goods in 2022, but a trade surplus in services.
• About two-thirds of multinationals were two-way traders. In addition, a large proportion of multinationals were importers, followed by non-traders. With an average of 10 percent, only a limited proportion of multinationals were exporters only. The distribution was different among non-multinationals: two-thirds of non-multinationals did not participate in international trade in 2022.

Dutch multinationals abroad

• Germany remained the most popular country for Dutch multinationals to invest in. The number of subsidiaries of Dutch multinationals in Germany increased further to 3,610 in 2022. The US and Belgium followed in second and third place respectively.
• In 2022, the majority of employees working at Dutch subsidiaries were in the US with 420 thousand employees. 69 percent of this employment was created by subsidiaries in trade.
• At an average of 615 people per firm, Dutch subsidiaries in Ukraine employed the most people in relative terms, driven by firms in mineral extraction and manufacturing. Belgium, with an average of 43 people per Dutch subsidiary, employed the fewest people in relative terms.
• Subsidiaries of Dutch multinationals in the US had the highest turnover per employee (FTE). This increased from 592.4 thousand euros to 605.5 thousand euros per employee (FTE) from 2021 to 2022. Subsidiaries in Germany and France followed with 475.9 thousand euros and 441.7 thousand euros in turnover per employee (FTE), respectively.

Chapter 6: Dutch earnings from exports

Contribution of exports to GDP

• The export of Dutch goods and services amounted to 899 billion euros in 2022, an increase of about 23 percent compared to 2021. This growth was largely due to price changes; in terms of volume, exports were about 5 percent higher than the previous year. Exports of goods of Dutch origin increased by 2 percent, re-exports grew by 25 percent, and service exports by 19 percent.
• Earnings from exports were 337 billion euros in 2022, nearly 17 percent more than the previous year. Added value from service exports increased the most (up by 19 percent), while earnings from domestic exports increased by 16 percent, and earnings from re-exports by 9 percent.
• Export earnings per euro of gross exports averaged 37 euro cents in 2022, slightly lower than in previous years. This decline was caused by domestic exports (down from 55 cents in 2021 to 53 cents in 2022) and re-exports (down from 12 cents to 11 cents). Service exports still yielded 65 cents per euro of gross exports, unchanged from 2021.
• In 2022, 35.1 percent of the Dutch GDP was earned from goods and services exports, 1.9 percentage points more than in 2021. This was mainly due to domestic exports (particularly machinery and equipment, and natural gas) and the export of services (notably air and sea transport and travel).
• GDP grew by 4.3 percent in 2022 compared to 2021. Service exports were largely responsible for this growth, contributing 1.6 percentage points, while domestic exports and re-exports contributed 0.1 and 0.2 percentage points, respectively.
• Sectors with significant earnings from exports include the industrial sector, business services and trade. In particular, manufacturing, transportation and storage, and mineral extraction sectors saw their export earnings increase in 2022 compared to 2021. Within the industrial sector, earnings from machinery and equipment and petroleum increased significantly in 2022.
• The mineral extraction and petroleum sectors experienced significant price increases along with a decline in gross export volume. The export volume of the chemical sector also declined. The metals and building materials sectors saw high price increases accompanied by an increase in export volume. The export volume of the pharmaceutical, machinery and equipment, and food sectors increased.
• Looking at specific categories of domestic exports, specialist machinery and equipment, natural gas, petroleum products, transport equipment, flowers and plants, and fruits and vegetables generate relatively high earnings for the Netherlands.
• In terms of export destinations, the Netherlands earns the most from exports to Germany, the UK, Belgium, France, and the US. China was the only country in the Netherlands’ top 10 export markets where export earnings did not grow in 2022.

Employment related to exports

• 31.4 percent of employment (or 2.6 million full-time jobs) in the Netherlands is related to exports. This includes 1.1 million direct jobs and 1.5 million indirect jobs (FTE).
• Of the employment generated by exports, 45 percent is attributable to exports of Dutch-made goods, 42 percent to service exports, and 12 percent to re-exports.
• Business services and trade generate relatively high indirect employment thanks to exports, while in the industrial sector, many jobs are directly dependent on exports.
• Men, people with a lower level of education, and self-employed persons spend more hours on export-related work, in relative terms.

Chapter 7: Use of imports in the Dutch economy

• In 2022, the total import value of goods and services amounted to 795.2 billion euros, of which 621.3 billion euros was related to goods and 173.9 billion euros to services. Total import value was 25.4 percent higher than in 2021. The increase was mainly due to higher import prices for goods.
• The Netherlands plays an important role in European intra-regional trade. A large part of the imports that are processed in exports (50.4 billion euros, representing 22.7 percent of total intermediate imports) came from within the EU-27 and went to the same or another EU-27 country.

Distribution of goods imports

• More than half of all goods imports (312.6 billion euros) were destined for re-export in 2022, and this share has been on the rise in recent years. Goods imports destined for direct domestic expenditure had a value of 78.4 billion euros in 2022. Intermediate goods imports amounted to 230.3 billion euros in 2021: 34 percent of these were processed by Dutch firms to produce goods or services that were sold on the domestic market and 66 percent were exported after processing in the Netherlands.
• In 2022, crude oil and petroleum products was the most important category of goods imported for re-exports. Crude oil and petroleum products was also the largest category of intermediate goods imports: 80 percent was further processed into exported goods or services. Imports of goods for direct domestic consumption were dominated by road vehicles, natural gas and clothing.
• Imported goods destined for re-export came mainly from Germany and China in 2022. Germany and Belgium were the most important import partners for intermediate goods imports and imports intended for direct domestic consumption.

Distribution of services imports

• Around 5 percent of service imports (9.4 billion euros) in 2022 were destined for re-export. Service imports destined for direct domestic consumption had a total value of 27.2 billion euros, 2 percent more than in 2019. Intermediate service imports amounted to 137.3 billion euros in 2022. Some 35 percent of these were further processed by Dutch firms into goods or services that were sold on the domestic market while 65 percent were exported abroad after processing in the Netherlands.
• Business services was the largest category of intermediate service imports, with 57 percent being further processed into exported goods or services. Service imports destined for direct domestic consumption amounted to 15.1 billion euros in travel services, 4.9 billion euros in ICT services and 4.3 billion euros in business services.
• With respect to intermediate service imports, the US and the UK were the most important import partners. Services intended for domestic consumption came mainly from Germany and the US.

Unravelling export-related imports

• A total of 56.8 billion euros in imports of raw materials and mineral fuels and 20.3 billion euros in industrial products were required in order to produce exports in 2022.
• There is a high degree of dependence on the EU-27 for imports that are incorporated into exports of industrial products (69 percent from EU-27), food and beverages (64 percent) and machinery and chemical products (63 percent).
• In 2022, a total of 25 billion euros in imports of business services and 13.8 billion euros in transport services were required to produce exports.
• Most of these imported services came from the EU-27 in 2022. Both the EU-27 share and the shares of the main export markets remained virtually unchanged compared to a year earlier.

Chapter 8: Footprint of Dutch imports

Land use footprint of Dutch imports

• The total land use footprint of Dutch imports is approximately 43 million hectares, almost 13 times the land area of the Netherlands. Only 12 million hectares of this footprint relate to imports that remain in the Netherlands, but that is still almost four times the land area of the Netherlands.
• More than 53 percent of the total land use footprint of imports consists of agricultural fields, but for imports that ultimately leave the Netherlands this is almost 57 percent. This is followed by forests at 26 percent and pastures at almost 20 percent. Land use for mining has a share of less than 1 percent.
• The food and beverage industry, which imports many agricultural products, accounts for the largest share of the land use footprint for intermediate imports with land use of approximately 11 million hectares, followed by that of the wood, paper and printing industries at almost 2 million hectares.
• The land use footprint of (intermediate) imports for direct and indirect domestic expenditure is fairly concentrated in Germany in terms of agricultural fields and in Russia in terms of forests. When it comes to intermediate imports for export and imports for re-export, there is a higher concentration of agricultural use in Argentina and Brazil and forest areas in Brazil. The use of pasture in all import flows is relatively highly concentrated in China.

Material footprint of Dutch imports

• The material footprint of Dutch imports amounted to 1,687 megatons (1 megaton = 1 billion kilogrammes) in 2020. Of this, 32 percent were fossil energy sources, 31 percent non-metallic minerals (such as sand, gravel and clay), 27 percent biomass and 11 percent metals.
• The majority of these raw materials, 867 megatons were used for intermediate imports. These mainly consisted of non-metallic minerals (324 megatons) and fossil fuels (318 megatons). The majority of the material footprint of the imports for re-export (673 megatons) and for domestic expenditure (147 megatons) consisted of biomass. Of the total metals footprint of Dutch imports, the majority was intended for re-export.
• The petroleum sector accounts for the largest share of the material footprint of Dutch intermediate imports for export at more than 150 megatons, mainly crude oil and natural gas. The construction sector accounts for the largest share of the material footprint of Dutch intermediate imports for domestic production at more than 150 megatons, mainly consisting of non-metallic minerals.
• The biomass footprint of Dutch imports is relatively widely dispersed, with a relative concentration in Germany and to a lesser extent Brazil. The use of fossil fuels for Dutch imports was strongly concentrated in Russia for all import flows in 2020. The footprint for metals and non-metallic minerals was relatively highly concentrated in China for Dutch imports for direct domestic consumption and imports for re-exports, but for intermediate imports these uses were more concentrated in South America and Germany, respectively.

Greenhouse gas footprint of Dutch imports

• The total greenhouse gas (GHG) footprint of Dutch imports amounted to 505 megatons of CO₂ equivalent (about 1 percent of the world total in 2020, Ritchie et al., 2024). This includes emissions of carbon dioxide (264 megatons of CO₂ eq.), carbon dioxide from biomass as an energy source (74 megatons of CO₂ eq.), nitrous oxide (60 megatons of CO₂ eq.) and methane (107 megatons of CO₂ eq.).
• The largest share of this GHG footprint is caused by imports destined for abroad: 232 megatons of CO₂ eq. for imports for re-export and 145 megatons of CO₂ eq. for intermediate imports intended for export. Imports for direct domestic expenditure had the smallest GHG footprint (55 megatons of CO₂ eq.). For intermediate imports intended for domestic expenditure, the footprint was 71 megatons of CO₂ eq.
• The food and beverages industry accounts for the largest share of the GHG footprint of all Dutch intermediate imports: one-fifth of the total. The share of the construction sector in the GHG footprint of Dutch intermediate imports for domestic expenditure is relatively large (almost 21 percent); for the chemicals sector this applies to its share in the GHG footprint of intermediate imports for exports (15 percent).
• The GHG footprint of Dutch imports is highly concentrated in China: more than 18 percent of GHG emissions related to imports for direct domestic expenditure take place in China, almost nine percent of those related to intermediate imports, and almost 16 percent of those related to imports for re-export.