11/03/2023

Netherlands exports to China up in 2023 -January and July data

11/03/2023

Between January and July 2023, Netherlands goods exports to China increased by 16 percent to a total of 11.8 billion euros. According to Netherlands economic data authority (CBS) reports in October 2023. this based on new CBS and Eurostat figures.

The Netherlands’ export to China growth, January-July 2023

The Netherlands’ export growth to China was due to a higher export value of machinery and equipment (+898 million euros), medicines (+401 million) and medicinal and pharmaceutical products (+188 million).

Goods exports from the EU to China remained stable. German exports to China fell by 8 percent to just under 58 billion euros in the period January - July 2023. Nevertheless, Germany retained its position as largest exporter to China within the EU.

The Netherlands total earnings from exports to China

In 2022, net export earnings from trade with China, i.e., the value added after deducting the cost of imports for manufacturing of the goods or provision of the services, stood at 7.1 billion euros. This is 31 million euros (0.4 percent) less than in 2021. The decrease was due to lower net export earnings in services (-432 million euros). Net earnings from goods exports, on the other hand, increased (+400 million euros).

In goods exports over 2022, the Netherlands earned the most from machinery and equipment (especially chip-manufacturing machines) at 1.5 billion euros, followed by processed foodstuffs such as baby milk powder at 1.1 billion euros, and meat at 379 million euros. The largest increases last year were recorded in processed foodstuffs (+370 million euros), machinery and equipment (+192 million euros) and semiconductors (+174 million euros); the largest declines in earnings last year were seen in medicine exports (-122 million euros) and passenger car exports (-95 million euros).

Explanations for Netherlands’ machinery and food exports to China

Machinery and food are the dominate products from Netherlands exports to China in 2023.

Firstly, Netherlands’ machinery and equipment (especially chip-manufacturing machines) are the # 1^st dominate products export to China.

Netherlands exports of machinery and food to China generated higher earnings in recent years. from January to July 2023, Netherlands’ ASML produced lithography machines exporting to China have surged, the earnings grew 64.8% year on year to US$2.58 billion in the period of January-July 2023, according to a related report citing China customs data.

Netherlands-made lithography machines, all from Dutch firm ASML – a Dutch chip equipment giant. The company builds photolithography machines, software, and solutions that allow manufacturers to make ever smaller, more efficient, and powerful computer chips. ASML had a breakthrough in 2017 on the machines that enable high-end chip manufacturing. The result: a photolithography machine that uses wavelengths of extreme ultraviolet (EUV) radiation to make features in microchips smaller, according to related article published in the 1st quarter, 2023.

In fact, machinery is the most profitable Dutch export product, machinery also assumed first place on the list of top export products; it has played an increasingly significant role in Dutch exports in recent two decades, it is a stronger backbone of Netherlands economy. Its share in total export earnings grew year by year, especially, Dutch exports of chip manufacturing equipment have seen continually rising revenues, as a matter of fact, the Netherlands’ machinery make bigger money.

Secondly, Netherlands’ agricultural products, food & vegetables are the # 2^nd dominate products export to China.

In general, there is growing value of Netherlands agricultural products exports, agricultural products (food, beverages), in particular, processed food and food preparations (e.g., baby milk powder) have become much more predominant in Dutch exports over the past two decades. By comparing export earnings and export turnover, profits earned per euro of export turnover, the higher profit per euro is found in exports of those Dutch products.

Why China needs to import Dutch food?

Quality, and quality speaks. The Netherlands is one of the largest food exporters in the world, the Dutch are renowned for their agricultural progress, its agriculture exports rose 17% last year, which amounts to over €120 billion worth of goods, among other, dairy products, eggs, meat, and vegetables made more profit.

Innovation has always been a crucial part of Dutch culture, and the creativity also played well in the agricultural sector which modernised Dutch farming. The agricultural products best known with its quality. It is not surprising that China imports more Dutch agricultural products, particularly, food and vegetables,

China import Dutch food products has been one of on-going activity of China imports. Over the Import value of Dutch food products to China, according to statista, date published in 2023, that in 2020, the import value of Dutch food products to China about 2.3 billion U.S. dollars. In 2021, China's food imports from the Netherlands amounted to around 2.2 billion U.S. dollars. Although the values are fluctuated, but it is non-stop.

China’s food demand increasingly relies on imports

China’s food demand based on the country has almost 1.4 billion Chinese consumers. China’s total demand for agricultural products, including food, feed, biofuel, or other use, is projected to increase substantially by 2050, especially, total demand for ruminant meat and dairy products is projected to almost double in reaching 2050.

Machinery and food remain key products from Netherlands exports to China

After of all, machinery and food are the dominate of products from Netherlands exports to China. the Netherlands is good at producing those products that Chinese market is in demand. supply and demand create businesses. From near future, these two categories’ products will remain as fundamentals of China imports from Netherlands.

Agricultural products importing to China - food in particular

If you enjoyed reading Netherlands exports to China up in 2023, we recommend you to read the latest trends and updates on regulatory developments, emerging asset classes, China imports products…related article subject here:

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