The Dutch trade deficit with the US extends up to 16 billion euros

The Netherlands exported goods worth 28.2 billion euros to the US in the first three months of this year, while the US exported goods worth 44.4 billion euros, taking commercial deficit at 16.3 billion eurosCBS National Statistics Agency said on Monday.

The deficit is twice as large as a year ago and is largely due to the import of gross oil and natural gas.

The Netherlands has had a structural commercial deficit with the US for years, said CBS, adding that oil and gas imports have become more important since Russia invaded Ukraine in 2022.

The imported oil imports from the US now represent 23% of the total Dutch, making the US the most important supplier. The US is also the largest provider of medical tools, devices and pharmaceuticals in the Netherlands.

Germany, France, Ireland and Italy have all significant commercial surpluses with the US, while Belgium, like the Netherlands, has a deficit.