How much trade was there between the Netherlands and the US in 2024?

The Netherlands exported goods worth 38.2 billion euros to the US in 2024, and imported goods worth 59.7 billion euros from the US. This resulted in a trade deficit of 21.5 billion euros.

The US has been an important trading partner for the Netherlands for decades, and ranks as the fifth most important export market for the Netherlands. Of all the Netherlands’ non-EU export markets, the US is the second most important, after the UK and ahead of China. In 2024, 5.7 percent of Dutch goods exports (by value) went to the US. This included 70 percent of domestic exports and 30 percent of re-exports. Examples of goods that the Netherlands exports in large quantities to the US include crude oil, (chip) machines and medicines.

US second largest supplier of goods

In 2024, 10.2 percent of all goods imported into the Netherlands came from the United States. This makes the US the second largest supplier of goods to the Netherlands, with only Germany supplying more in terms of value. Mineral fuels were the main import from the US, accounting for nearly one-third of the country’s total import value. Machinery and transport equipment, and miscellaneous manufactured goods accounted for 26.6 and 18.2 percent, respectively, while chemical products accounted for 16.1 percent.

Trade deficit

Unlike the larger economies in the EU, the Netherlands has a trade deficit with the US. This amounted to approximately 10 billion euros annually between 2018 and 2021. Over the past three years, the deficit has grown much larger due to increased imports of mineral fuels such as liquefied natural gas, and higher energy prices since Russia’s invasion of Ukraine.

More uncertainty in 2025

The recent trade war initiated by the US, with President Trump announcing or imposing import tariffs on almost all countries, is a cause of much uncertainty around the world about what exactly will happen and what the consequences may be. CBS is conducting additional research on globalisation and value chains to identify dependencies and bottlenecks in both national and international chains. This provides more in-depth information on the potential impact of the effects of geopolitical tensions on world trade for the sectors, jobs or regions concerned.