Dutch agricultural exports rose by 4.8% in value last year, reaching €128.9 billion, and with higher prices accounting for the majority of the increase, according to new research by statistics agency CBS and Wageningen University.

Approximately €45.5 billion, or 35% of the total, was attributed to the re-export of goods produced elsewhere, roughly the same percentage as in 2023. The Netherlands is Europe’s biggest importer of soy, palm oil and cocoa beans and the second biggest importer of timber and beef products.

The Dutch economy benefited to the tune of €47.4 billion, of which €42.3 billion was generated by domestic products and €5.2 billion by re-exports, the CBS said.

Dairy products and eggs represented the largest share of the total, at €12.3 billion, followed by cut flowers and plants at €11.9 billion. Meat exports declined slightly to €10.7 billion.

A sharp rise in cocoa prices drove up the value of chocolate, cocoa butter, and paste by 66%, making it the fourth most valuable export sector. A poor harvest, caused by heavy rain in Ivory Coast and Ghana, significantly impacted on farmers, driving up prices.

Germany remains the Netherlands’ largest trading partner, accounting for 25% of agricultural exports last year. In contrast, exports to China fell by 12% due to reduced demand for baby milk and pork, following an increase in domestic production.