Exports from the Netherlands to Russia almost halved last year

Exports from the Netherlands to Russia are expected to decline by 42 percent in 2022. This was announced by the Central Bureau of Statistics on Tuesday. Last year, the Netherlands received $1.7 billion in exports to Russia, or 0.4 percent of Dutch GDP. In 2021 it was still 2.9 billion.

The half is directly linked to the Russian invasion of Russia in February last year. Therefore, the Netherlands imposed sanctions on Russia. For example, machinery and technology are no longer allowed to be exported to Russia, as are luxury goods such as cars, yachts, jewelry or clothing. Floriculture exporters, among others, have suffered relatively little from penalties.

The lower yield due to lower exports to Russia is partly offset by increased trade with Russian partners in the Eurasian Economic Union, such as Kazakhstan and Kyrgyzstan. Export revenues to these countries increased from 215 to 555 million euros.

Of all the member states of the Eurasian Economic Union, the Netherlands gained the most last year from trade with Kazakhstan. In 2022, this amount reached €329 million, almost half more than the previous year.