/s3/static.nrc.nl/wp-content/uploads/2024/05/web-0105buiimport.jpg "The Netherlands imported smaller quantities from China last year for the first time since 2016")
Last year, for the first time in seven years, the Netherlands imported fewer goods from China than the previous year. Consumers were more likely to ignore Chinese computers, laptops and tablets and instead buy electronics from Taiwan. Dutch exports to China have actually increased, the Central Statistics Office reported on Thursday.
In total, the Netherlands imported more than 104 billion euros worth of Chinese goods in 2023. Two years ago, this amount was higher by about 21 billion euros. About half the value of imports is spent on consumer electronics – but there is also demand for Chinese chips, semiconductor elements and solar panels.
According to Statistics Netherlands, this decline is in line with the overall contraction of Chinese exports (and imports). Consumers around the world have less interest in Chinese goods due to higher inflation.
Taiwan benefits
The Netherlands also bought relatively fewer things from China in 2023. In 2022, nearly 57% of imported computers, laptops and tablets came from China, compared to just over 43% last year. Taiwan was able to benefit greatly from this change: the value of Taiwanese goods imports tripled in one year to 6.7 billion euros.
Because exports to China increased by a fifth last year, the trade balance (the value of exports minus the value of imports) with China is much less negative. China purchased more machinery, equipment, medicines, medical and pharmaceutical products from the Netherlands. Overall, the Dutch trade balance with China remains in the red at around 82 billion euros.
