
Opening up a command-prompt and comparing the mysqldump.exe versions between MySQL Server and MySQL Workbench showed following
Solution
Copied the mysqldump.exe (version 5.6.10) from the MySQL Server 5.6 installation folder and replaced the mysqldump.exe (version 5.5.16) at the MySQL Workbench 5.2 CE folder.
Export now works like a charm again.