Economy - Figures
Turnover in the manufacturing industry rose by 5.6 percent in 2018. All industrial sectors recorded turnover growth; at 0.1 percent, it was smallest in the food, beverage and tobacco industry, where manufacturers realised virtually the same results as in 2017. Turnover in the transport industry saw the highest increase in 2018 at 12.1 percent.
For the first time since October 2015, manufacturing output contracted in December 2018. The average daily output generated by the Dutch manufacturing industry in that month was 3.2 percent down year-on-year. Output in the electrical and electrotechnical products industry showed the strongest contraction. The decline in the chemical, machinery and pharmaceutical industries was also stronger than average in total manufacturing.
Manufacturing output prices were up by 3.0 percent year-on-year in 2018. Both domestic and export prices charged by Dutch manufacturers increased, by 2.7 and 3.3 percent respectively. Refineries and chemical companies played a major role in these positive price developments, pushing prices up by 8.3 percent on 2017. Prices increased across all sectors except in the food, beverage and tobacco industry, where output prices dropped by 0.7 percent; export prices fell by 1.2 percent, whereas domestic prices did not change.
Optimism has prevailed among entrepreneurs since October 2014. In manufacturing, producer confidence rose slightly in February 2019: to 6.3, up from 5.8 in January. Confidence among manufacturers reached an all-time high in February 2018: 10.9. There is a correlation between producer confidence and output growth. Every month between October 2015 and December 2018, the average daily output rose year-on-year. This trend was interrupted by 3.2 percent output decline in December. In January 2019, output had almost returned to the level of one year previously.
Over the past several years, the number of bankruptcies pronounced in manufacturing has fallen sharply. There were still over 800 company bankruptcies in 2012 and 2013. This number fell below 400 by 2015. Last year, 270 companies filed for bankruptcy. This is a decline of nearly 69 percent relative to the peak in 2012.