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The Netherlands' earnings from exports to Russia almost halved in 2022 — statistics

The conflict in Ukraine "has led to a ban on exports of machinery and technologies to Russia, but also of luxury goods such as cars, yachts, jewellery or clothing," the statistics bureau commented on the trend

THE HAGUE, October 31. /TASS/. The Netherlands' income from exports of goods and services to Russia almost halved in 2022, fell by almost half last year, the country’s Central Bureau of Statistics (Statistics Netherlands) reported.

In 2022, earnings from exports to Russia amounted to 1.7 billion euros in 2022, a 42-percent decline relative to the previous year, when they stood at 2.9 billion euros (about 0.7% of GDP), the agency said.

The conflict in Ukraine "has led to a ban on exports of machinery and technologies to Russia, but also of luxury goods such as cars, yachts, jewellery or clothing," the statistics bureau commented on the trend. Earnings from export services to Russia has also decreased. In particular, it concerns business services, construction services and payments for the use of intellectual property.

The Central Bureau of Statistics drew attention to the increase in income from exports to other countries that have close ties with Russia and are members of the Eurasian Economic Union (including Kazakhstan, Uzbekistan and Armenia). For example, income from exports to Kazakhstan increased to €329 million in 2022, an increase of 49% compared to 2021.

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