FX.co ★ Dutch Trade Surplus Smallest in 3 Years

The Netherlands’ trade surplus narrowed to EUR 6.7 billion in May 2026, down from EUR 9.9 billion in May 2025. This was the smallest surplus since April 2023 and reflected a stronger rise in imports than in exports.

Imports increased by 8.3% year-on-year to EUR 59.2 billion, supported by higher purchases from both EU partners (+7.1%) and non-EU countries (+9.3%). By commodity group, the sharpest gains were recorded in mineral fuels and lubricants (+39.4%), chemical products (+8.0%), animal and vegetable oils (+6.5%), and beverages and tobacco (+3.3%).

Exports rose more modestly, up 2.1% to EUR 65.8 billion. This growth was driven by stronger sales to EU countries (+7.3%), while exports to non-EU destinations declined by 5.7%. Export growth was led mainly by mineral fuels and lubricants (+40.5%), chemical products (+9.5%), and raw materials (+7.0%).

Over the first five months of 2026, the Dutch trade surplus reached EUR 43.5 billion. During this period, exports edged down 0.8%, whereas imports increased by 1.4%.