Dutch exporters expect to have to settle for a meager 3% increase in turnover in 2023. Expectations are this low for the first time in ten years and goes hand in hand with low confidence in the current economic climate . This is demonstrated by the 25th edition of Trends in Export, the annual survey by Atradius and Evofenedex.
Confidence is under pressure from factors such as inflation, rising costs, the energy crisis and the war in Ukraine, the study shows. At the same time, nearly half of exporters expect the EU’s role as a trading bloc on the world stage to weaken. However, the vast majority still see the European Union as the most important sales market. According to Tom Kaars Sijpesteijn, managing director of credit insurer Atradius, the picture is negative. “The last time the revenue expectation was three percent was in 2012, right after the financial crisis.”
Dutch exporters saw their turnover increase by 6% in 2022. It was still two percent lower than expected a year earlier.
Looking beyond Europe
While Europe is still the most important sales market, they are increasingly looking towards other locations. “The US tops the list where exporters now expect the biggest sales growth.”
The Netherlands are good at finding new markets. “It’s very interesting to see,” says Kaars Sijpesteijn. The report then identifies some ‘surprising’ countries that are becoming increasingly attractive as sales markets, such as Finland and Denmark. ‘Companies don’t want to become too dependent, so they are looking for different markets and more certainties. We have to make sure we remain a strong market.’
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
