China's exports to Netherlands fell by 16% in FY 2023

 

Over the years, the trade relations between China and the Netherlands have only strengthened. China customs data reports show that the overall trade between the two countries reached over $134 billion dollars during the fiscal year 2022 which is mostly dominated by Chinese exports. The most traded goods between China and the Netherlands were computers, optical instruments, electrical equipment, and medicines.

According to China export data, China has exported around $118 billion worth of goods to the Netherlands during FY 2022. These include computers, telecommunication equipment, office machine parts, semiconductors, batteries, toys, video displays. The latest reports show that in the latest fiscal year, China exported over 72 billion euros worth of goods in the first six months of 2023. 

Although there was a 2% decline in the imports by the Netherlands as compared to the last year. Whereas, during September month, China's exports to the Netherlands were over $8 billion. As compared to the previous month China import export data, there was over 16% decline in China's exports to the Netherlands. The key imports by the Netherlands were telephones, computers, LCDs, and other electrical equipment.

On the other hand, China’s imports from the Netherlands were mostly Photo lab equipment, malt extract, medicines, port, wood, orthopaedic appliances, scrap copper and gas turbines. China import data suggest that the overall imports of China from the Netherlands were estimated to be $16 billion during FY 2022. China’s imports remain steady as compared to previous year imports from the Netherlands.

Whereas, this year, the Netherlands exports to China has seen 16% growth and is estimated to be 12 billion euros. And in the September month, exports were around $2 billion. The Netherlands key exports items were machine parts, optical instruments, chemicals and medicaments. 

The Netherlands optical instruments exports have seen 2.3% increase followed by rapeseed oil (12%), machineries (150%). On the other hand, Netherlands imports of China's telephones declined by 6%, and broadcasting equipment reduced by 26%.

Also, the Netherlands has emerged as the leading importer of solar panels from China. The global import export data reports shows that the Netherlands has imported over 12 billion euros worth of solar products from China during FY 2022. Apart from the Netherlands, China's exports to European Union countries fell by 40 billion euros and stood at 307 billion euros in FY 2023. Germany was the leading importer of Chinese goods and was estimated to be about 56 billion euros during this year.

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