Dutch exporters already feeling the Brexit pinch
Since the Brexit referendum, the growth of Dutch exports of goods to the UK has virtually come to a standstill, while exports of goods to other countries grew by 17%. According to an analysis by ING, the fall of the pound reduced the value of Dutch exports to the UK by nearly €11bn in 2018.
The economic pain of Brexit is evident, even before the UK leaves the EU and this is particularly noticeable in exports. Since the referendum in 2016, the growth of Dutch goods exports to the UK has virtually come to a standstill.
This is due to two factors: the fall of the pound against the euro, i.e. the 'currency effect' and the cooling of demand among British consumers and producers. The fall in the value of the pound has made products from outside the UK relatively more expensive, and as a result, the position of Dutch suppliers has deteriorated compared with British competitors.