Substantially higher turnover for wholesalers in the third quarter

Substantially higher turnover for wholesalers in the third quarter

Photo: ANP

Wholesalers and brokerage firms generated almost 17 percent more turnover in the third quarter of this year than in the same period a year ago. However, the confidence of entrepreneurs in the sector has fallen somewhat, and they are also more negative about the expected exports, reports the Central Bureau of Statistics (CBS).

Wholesalers in oil and coal in particular saw their income rise sharply, also helped by the price increases. On an annual basis, this was a plus of 61 percent. Compared to the third quarter of 2019, before the crisis, turnover was virtually the same. Wholesalers in agricultural products have an annual turnover of 18 percent. Furthermore, the revenues of wholesalers in industrial machinery, non-food, ICT equipment and foodstuffs also increased.

The number of bankruptcies was again lower, at thirty in the third quarter. It was the fifth consecutive quarter that the number of bankruptcies in the wholesale and brokerage sector fell. In the quarters preceding the crisis, there were on average 90 bankruptcies per quarter. The corona support from the government probably plays a role.

Business confidence in the sector declined slightly during the measurement period. Nevertheless, according to Statistics Netherlands, confidence is still relatively high compared to the first six months of this year. Optimism about exports also waned somewhat. Both the judgment on foreign sales and expectations for foreign order intake deteriorated, but remained positive, according to the statistics office.

Substantially higher turnover for wholesalers in the third quarter
Source link Substantially higher turnover for wholesalers in the third quarter

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