(MENAFN) According to Dutch customs data reported by RIA Novosti on Saturday, mutual trade between Russia and the Netherlands experienced a significant decline in July, with a year-on-year decrease of threefold, resulting in a total trade volume of €620 million (equivalent to USD662 million). This decline brought the bilateral trade relationship to its lowest point since 2015, indicating a noteworthy shift in economic interactions between the two countries.
Specifically, during the month of July, imports of Russian goods into the Netherlands, a European Union (EU) member country, witnessed a substantial drop of 14 percent when compared to the previous month, totaling €419 million (USD447.18 million). However, the most striking aspect of this decline is the staggering 250 percent decrease when measured against the corresponding period in the preceding year. This sharp contraction in imports from Russia highlights a considerable shift in the demand for Russian products within the Dutch market.
Conversely, Dutch exports to Russia in July experienced a modest month-on-month increase, amounting to €201 million (USD214.52 million), representing a 7 percent uptick. However, when assessed on an annual basis, these exports registered a notable decline of nearly 50 percent. This indicates that while there may have been a temporary upswing in Dutch exports to Russia during that specific month, the overall trend reveals a significant decrease in the trade of goods from the Netherlands to Russia over the course of the year.
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