The sales of oil-producing companies in the past quarter were no less than 38.9 percent lower than in the same period last year, the Central Bureau of Statistics (CBS) reports Wednesday. The main cause is the fall in oil prices.
This makes the oil sector the hardest hit sector within the industry. Other sectors that saw a lot of turnover evaporate were manufacturers of transport equipment, producers of rubber and plastic, the chemical industry and the pharmaceutical industry.
On the other hand, there were various branches that did well. Building materials manufacturers, for example, posted a 6.2 percent increase in revenues and sales of food, beverages and tobacco rose by 1.8 percent. Despite the growth in a number of industries, the entire Dutch industrial sector sold 7.9 percent less in the third quarter than twelve months previously.
The Dutch industry was especially hit hard in the spring, when the corona crisis broke out. The sector recovered partially in the third quarter, but that was certainly not enough to fully make up for the decline in sales in the second quarter.
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