Economic Trends/Outlook in the Netherlands
The Netherlands entered into recession after the second trimester of 2008, the country was strongly affected by the international crisis due to its dependence on foreign trade. Its GDP experienced a historic contraction of -4% in 2009. The revival of global trade has allowed the country to recover with a slow growth drawn by the exports in 2010, estimated at 1.8%.
The crisis plunged public finance into the red, beyond the limits of the European Stability and Growth Pact. The public deficit is estimated at 5.8% of the GDP in 2010, and the public debt is close to 65% of the GDP. The priority of the government is to consolidate the budget and its objective is to bring the deficit to 3% of the GDP by 2013. The government has established reforms intended to strengthen the financial sector and the management of the population's ageing is also essential.
The Netherlands presents high incomes per capita with an equal distribution of revenues. The unemployment rate is rising but it still remains at less than 5% of the active population.
|GDP (billions USD)||796.65||783.29e||832.16e||852.48e||871.58e|
|GDP (Constant Prices, Annual % Change)||-3.9||1.7e||1.5e||1.5e||1.6e|
|GDP per Capita (USD)||48,188||47,172e||49,950e||51,024e||52,030e|
|General Government Balance (in % of GDP)||-4.4||-4.1e||-3.2e||-2.2e||-1.8e|
|General Government Gross Debt (in % of GDP)||60.8||63.7e||65.6e||66.5e||66.7e|
|Inflation Rate (%)||1.0||0.9e||2.3e||2.2e||2.0e|
|Unemployment Rate (% of the Labor Force)||3.4||4.5e||4.4e||4.4e||4.3e|
|Current Account (billions USD)||41.65e||39.87e||42.60e||44.97e||-|
|Current Account (in % of GDP)||5.2e||5.0e||5.3e||5.5e||-|
Source: IMF - World Economic Outlook Database
Note: (e) Estimated Data
Main Sectors of Industry
The agricultural sector represents 3% of the country's GNP. The profits from production are high and the use of the agricultural surface area is very intensive. Nearly 60% of the production is exported, either directly or through the food industry, what makes of the Netherlands the third exporter of agricultural products in the world. Cereals, potatoes and horticultural products are the main crops.
Industrial activity, practically, generates nearly a quarter of the GNP through food-processing, the petro-chemical industry, metallurgy and also the transport equipment industry. The Netherlands is also amongst the major producers and distributors of oil and natural gas.
Services account for more than 70% of the national income and they are mainly centered on transportation, distribution, logistics, banking and insurances.
|Breakdown of Economic Activity By Sector||Agriculture||Industry||Services|
|Employment By Sector (in % of Total Employment)||2.7||18.2||73.1|
|Value Added (in % of GDP)||1.7||24.0||74.3|
|Value Added (Annual % Change)||2.7||-6.8||-2.7|
Source: World Bank - Last Available Data.
Indicator of Economic Freedom
- Mostly free
- World Rank:
- Regional Rank:
Sources of General Economic Information
Ministry of Social Affairs and Employment
Ministry of Economical Affairs
Ministry of Agriculture and Fishery
Ministry of Finances
- Statistical Office
Central Bureau of Statistics
- Central Bank
Dutch National Bank
- Stock Exchange
Amsterdam Exchange (AEX)
- Other Useful Resources
- Main Online Newspapers
Het Financiel Dagblad (only in Dutch)
NRC Handelsblad (only in Dutch)
Algemeen Dagblad (only in Dutch)
- Economic Portals
Any Comments About This Content? Report It to Us.
The Netherlands is a member of the EU, and it follows EU's common external trade policy and measures. As a euro-zone member, it has also adopted the euro as its legal tender from 1 January 2002
Hong Kong Trade Development Council (HKTDC) on 1 Jul 2012 related to Economic Trends/Outlook in the Netherlands
Find the related Dutch companies with Kompass:
Government Trade Promotion, Hong Kong SAR