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Netherlands Economy 2020

SOURCE: 2020 CIA WORLD FACTBOOK AND OTHER SOURCES











Netherlands Economy 2020
SOURCE: 2020 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 27, 2020

Economy - overview:
The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a consistently high trade surplus, stable industrial relations, and low unemployment. Industry focuses on 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 food-processing and underpins the country’s status as the world’s second largest agricultural exporter.

The Netherlands is part of the euro zone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 80% of banking assets, and is four times the size of Dutch GDP.

In 2008, during the financial crisis, the government budget deficit hit 5.3% of GDP. Following a protracted recession from 2009 to 2013, during which unemployment doubled to 7.4% and household consumption contracted for four consecutive years, economic growth began inching forward in 2014. Since 2010, Prime Minister Mark RUTTE’s government has implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. In 2017, the government budget returned to a surplus of 0.7% of GDP, with economic growth of 3.2%, and GDP per capita finally surpassed pre-crisis levels. The fiscal policy announced by the new government in the 2018-2021 coalition plans for increases in government consumption and public investment, fueling domestic demand and household consumption and investment. The new government’s policy also plans to increase demand for workers in the public and private sector, forecasting a further decline in the unemployment rate, which hit 4.8% in 2017.

GDP (purchasing power parity):
$924.4 billion (2017 est.)
$898.6 billion (2016 est.)
$879.4 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 27
[see also: GDP country ranks ]
[see also: GDP country ranks ]

GDP (official exchange rate):
$832.2 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.9% (2017 est.)
2.2% (2016 est.)
2% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 118
[see also: GDP - real growth rate country ranks ]
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$53,900 (2017 est.)
$52,800 (2016 est.)
$51,900 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 23
[see also: GDP - per capita country ranks ]
[see also: GDP - per capita country ranks ]

Gross national saving:
31.2% of GDP (2017 est.)
28.5% of GDP (2016 est.)
28.8% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 28
[see also: Gross national saving country ranks ]
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 44.3% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 24.2% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.5% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.2% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 83% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -72.3% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.6% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 17.9% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 70.2% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
vegetables, ornamentals, dairy, poultry and livestock products; propagation materials

Industries:
agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing

Industrial production growth rate:
3.3% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 96
[see also: Industrial production growth rate country ranks ]
[see also: Industrial production growth rate country ranks ]

Labor force:
7.969 million (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 63
[see also: Labor force country ranks ]
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 17.2%
[see also: Labor force - by occupation - industry country ranks ]
services: 81.6% (2015 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
4.9% (2017 est.)
6% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 69
[see also: Unemployment rate country ranks ]
[see also: Unemployment rate country ranks ]

Population below poverty line:
8.8% (2015 est.)
[see also: Population below poverty line country ranks ]
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24.9% (2014 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
30.3 (2015 est.)
25.1 (2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 134
[see also: Distribution of family income - Gini index country ranks ]
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 361.4 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 352.4 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
43.4% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 27
[see also: Taxes and other revenues country ranks ]
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
1.1% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 32
[see also: Budget surplus (+) or deficit (-) country ranks ]
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
56.5% of GDP (2017 est.)
61.3% of GDP (2016 est.)
note: data cover general government debt and include 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 intragovernmental debt; intragovernmental 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
country comparison to the world (CIA rank, may be based on non-current data): 78
[see also: Public debt country ranks ]
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.3% (2017 est.)
0.1% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 70
[see also: Inflation rate (consumer prices) country ranks ]
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0% (31 December 2016)
0.05% (31 December 2015)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
country comparison to the world (CIA rank, may be based on non-current data): 158
[see also: Central bank discount rate country ranks ]
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
1.33% (31 December 2017 est.)
1.47% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 192
[see also: Commercial bank prime lending rate country ranks ]
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$419 billion (31 December 2017 est.)
$364.9 billion (31 December 2016 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 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
country comparison to the world (CIA rank, may be based on non-current data): 13
[see also: Stock of narrow money country ranks ]
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$419 billion (31 December 2017 est.)
$364.9 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 13
[see also: Stock of broad money country ranks ]
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.687 trillion (31 December 2017 est.)
$1.547 trillion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 14
[see also: Stock of domestic credit country ranks ]
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$652.7 billion (31 December 2015 est.)
$735.1 billion (31 December 2014 est.)
$675 billion (31 December 2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 17
[see also: Market value of publicly traded shares country ranks ]
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$87.46 billion (2017 est.)
$62.92 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 4
[see also: Current account balance country ranks ]
[see also: Current account balance country ranks ]

Exports:
$555.6 billion (2017 est.)
$495.4 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 6
[see also: Exports country ranks ]
[see also: Exports country ranks ]

Exports - partners:
Germany 24.2%, Belgium 10.7%, UK 8.8%, France 8.8%, Italy 4.2% (2017)

Exports - commodities:
machinery and transport equipment, chemicals, mineral fuels; food and livestock, manufactured goods

Imports:
$453.8 billion (2017 est.)
$402.9 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 10
[see also: Imports country ranks ]
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment, chemicals, fuels, foodstuffs, clothing

Imports - partners:
China 16.4%, Germany 15.3%, Belgium 8.5%, US 6.9%, UK 5.1%, Russia 4.3% (2017)

Reserves of foreign exchange and gold:
$38.44 billion (31 December 2017 est.)
$38.21 billion (31 December 2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 46
[see also: Reserves of foreign exchange and gold country ranks ]
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.063 trillion (31 December 2016 est.)
$4.054 trillion (31 December 2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 5
[see also: Debt - external country ranks ]
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$5.499 trillion (31 December 2017 est.)
$4.759 trillion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 1
[see also: Stock of direct foreign investment - at home country ranks ]
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$6.579 trillion (31 December 2017 est.)
$5.623 trillion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 1
[see also: Stock of direct foreign investment - abroad country ranks ]
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar -
0.885 (2017 est.)
0.903 (2016 est.)
0.9214 (2015 est.)
0.885 (2014 est.)
0.7634 (2013 est.)


NOTE: 1) The information regarding Netherlands on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Netherlands Economy 2020 information contained here. All suggestions for corrections of any errors about Netherlands Economy 2020 should be addressed to the CIA or the source cited on each page.
2) The rank that you see is the CIA reported rank, which may have the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assigns counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order.






This page was last modified 27-Jan-20
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