Page last updated on February 5, 2013
Economy - overview:
The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP. In 2012 tax revenues dropped nearly 9%, and GDP contracted. Although jobless claims continued to grow, the unemployment rate remained relatively low at 6.8 percent.
GDP (purchasing power parity):
$709.5 billion (2012 est.)
country comparison to the world: 24
$712.8 billion (2011 est.)
$705.1 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$770.2 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
-0.5% (2012 est.)
country comparison to the world: 194
1.1% (2011 est.)
1.6% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$42,300 (2012 est.)
country comparison to the world: 21
$42,700 (2011 est.)
$42,400 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 2.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
24.1%
services:
73.2% (2012 est.)
Labor force:
7.746 million (2012 est.)
country comparison to the world: 62
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
18%
services:
80% (2005 est.)
Unemployment rate:
6.8% (2012 est.)
country comparison to the world: 73
5.8% (2011 est.)
[see also:
Unemployment rate country ranks ]
Population below poverty line:
10.5% (2005)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 2.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
22.9% (1999)
Distribution of family income - Gini index:
30.9 (2007)
country comparison to the world: 112
32.6 (1994)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
16.6% of GDP (2012 est.)
country comparison to the world: 128
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $347.4 billion
[see also: Budget revenues country ranks ]
expenditures:
$386.6 billion (2012 est.)
Taxes and other revenues:
45.1% of GDP (2012 est.)
country comparison to the world: 31
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-5.1% of GDP (2012 est.)
country comparison to the world: 158
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
68.7% of GDP (2012 est.)
country comparison to the world: 39
65.1% of GDP (2011 est.)
note:
data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment. Debt instruments for the social funds are not sold at public auctions.
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
2.4% (2012 est.)
country comparison to the world: 49
2.3% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
1.5% (31 December 2012)
country comparison to the world: 127
1.75% (31 December 2010)
note:
this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
2.5% (31 December 2012 est.)
country comparison to the world: 176
3.18% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$375.8 billion (31 December 2012 est.)
country comparison to the world: 13
$367.2 billion (31 December 2011 est.)
note:
see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$1.119 trillion (31 December 2011 est.)
country comparison to the world: 18
$1.088 trillion (31 December 2010 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$1.693 trillion (31 December 2012 est.)
country comparison to the world: 13
$1.644 trillion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$594.7 billion (31 December 2011)
country comparison to the world: 18
$661.2 billion (31 December 2010)
$542.5 billion (31 December 2009)
[see also:
Market value of publicly traded shares country ranks ]
Agriculture - products:
grains, potatoes, sugar beets, fruits, vegetables; livestock
Industries:
agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing
Industrial production growth rate:
-0.6% (2011 est.)
country comparison to the world: 150
[see also: Industrial production growth rate country ranks ]
Current account balance:
$77.2 billion (2012 est.)
country comparison to the world: 6
$70.92 billion (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$556.5 billion (2012 est.)
country comparison to the world: 7
$550.2 billion (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
machinery and equipment, chemicals, fuels; foodstuffs
Exports - partners:
Germany 26.2%, Belgium 14.1%, France 9.3%, UK 7.7%, Italy 4.8% (2011)
Imports:
$490.1 billion (2012 est.)
country comparison to the world: 11
$492.1 billion (2011 est.)
[see also:
Imports country ranks ]
Imports - commodities:
machinery and transport equipment, chemicals, fuels, foodstuffs, clothing
Imports - partners:
Germany 14.5%, China 11.8%, Belgium 8.6%, UK 6.1%, Russia 6%, US 5.9%, France 4% (2011)
Reserves of foreign exchange and gold:
$51.27 billion (31 December 2011 est.)
country comparison to the world: 33
