Netherlands - Economic Indicators

Global Outlook: Weaker Growth, Pervasive Downside Risks

Mar 11, 2019

View the Moody's Analytics Global Forecast. The global expansion has passed its peak for this cycle; GDP growth is forecast to slow to 3% in 2019 and 2.7% in 2020 after an estimated 3.1% in 2018. Elevated geopolitical risks threaten to accelerate the slowdown in global demand. China's stimulus this cycle is about stabilising growth at the lower target range rather than reinvigorating the economy. The ECB has released fresh stimulus to prop up slowing...

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GDP Reference Last Previous Units Frequency
Private Consumption 2018 Q4 86,586 85,778 Mil. EUR, SA Quarterly
Real Private Consumption 2018 Q4 82,475 82,031 Mil. 2015 EUR, SA Quarterly
Real Fixed Investment (gross fixed capital formation) 2018 Q4 39,810 38,378 Mil. 2015 EUR, SA Quarterly
Nominal Gross Domestic Product 2018 Q4 196,179 194,238 Mil. EUR, SA Quarterly
Government Consumption 2018 Q4 47,107 46,616 Mil. EUR, SA Quarterly
Real Gross Domestic Product 2018 Q4 187,451 186,434 Mil. 2015 EUR, SA Quarterly
Investment 2018 Q4 41,712 39,983 Mil. EUR, SA Quarterly
Real Government Consumption 2018 Q4 44,944 44,731 Mil. 2015 EUR, SA Quarterly
Real Investment 2018 Q4 39,810 38,378 Mil. 2015 EUR, SA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2018 Q4 41,712 39,983 Mil. EUR, SA Quarterly
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Mar 2019 105.37 104.97 Index 2015=100, NSA Monthly
Producer Price Index (PPI) Feb 2019 105.4 104.7 Index 2015=100, NSA Monthly
Labor Reference Last Previous Units Frequency
Labor Force Employment Mar 2019 8,916 8,905 Ths. #, SA Monthly
Labor Force Mar 2019 9,224 9,217 Ths. #, SA Monthly
Unemployment Mar 2019 307 312 Ths. #, SA Monthly
Unemployment Rate Mar 2019 3.3 3.4 %, SA Monthly
Total Employment 2018 Q4 9,407 9,349 Ths. #, SA Quarterly
Wage & Salaries 2018 Q4 41,712 39,983 Mil. EUR, SA Quarterly
Agriculture Employment 2017 201,205 204,720 # Annual
Primary Industries Employment 2016 195 194 Ths. # Annual
Trade Reference Last Previous Units Frequency
Imports of Goods Jan 2019 38,622 35,594 Mil. EUR, NSA Monthly
Balance of Goods Jan 2019 2,862 3,614 Mil. EUR, NSA Monthly
Exports of Goods Jan 2019 41,484 39,208 Mil. EUR, NSA Monthly
Current Account Balance 2018 Q4 27,505 19,373 Mil. EUR, NSA Quarterly
Imports of Goods and Services 2018 Q4 141,056 142,872 Mil. EUR, SA Quarterly
Real Exports of Goods and Services 2018 Q4 156,728 159,182 Mil. 2015 EUR, SA Quarterly
Real Imports of Goods and Services 2018 Q4 136,448 138,207 Mil. 2015 EUR, SA Quarterly
Real Net Exports 2018 Q4 20,280 20,975 Mil. 2015 EUR, SA Quarterly
Exports of Goods and Services 2018 Q4 161,974 164,081 Mil. EUR, SA Quarterly
Net Exports 2018 Q4 20,918 21,209 Mil. EUR, SA Quarterly
Government Reference Last Previous Units Frequency
Outstanding Public Debt 2018 Q4 405,428 404,306 Mil. EUR, NSA Quarterly
Government Expenditures 2018 Q4 -84,388 -77,828 Mil. EUR, NSA Quarterly
Government Revenues 2018 Q4 84,294 78,816 Mil. EUR, NSA Quarterly
Gross External Debt 2018 Q3 0 0 USD, NSA Quarterly
Markets Reference Last Previous Units Frequency
Average Long-term Government Bond 17 Apr 2019 0.26 0.24 % p.a., NSA Business Daily
Stock Market Index 17 Apr 2019 842.4 840.03 Index, NSA Business Daily
Lending Rate Feb 2013 1.5 1.5 % p.a., NSA Monthly
Money Market Rate Dec 1998 2.78 3.18 % p.a., NSA Monthly
Real Estate Reference Last Previous Units Frequency
Residential Building Permits Feb 2019 3,946 3,833 #, NSA Monthly
Dwelling Stocks Feb 2019 7,819,708 7,814,496 #, NSA Monthly
House Price Index 2017 Q3 100.79 99.18 Index 2010=100, SA Quarterly
Non-residential Building Permits 2016 50,997 53,533 # Annual
Building Permits 2016 50,997 53,533 # Annual
Consumer Reference Last Previous Units Frequency
Consumer Confidence Mar 2019 -4 -2 Bal. of Opinion, SA Monthly
Retail Sales Feb 2019 96.4 104.1 Index 2015=100, NSA Monthly
Real Retail Sales Feb 2019 94.1 103.3 Vol. Index 2015=100, NSA Monthly
Personal Income 2015 64 Ths. EUR Annual
Business Reference Last Previous Units Frequency
Capacity Utilization 2019 Q1 84.4 84 %, SA Quarterly
Business Confidence Mar 2019 6.1 6.3 Balance of Opinion, SA Monthly
Industrial Production Feb 2019 99.6 103.8 Index 2015=100, NSA Monthly
Real Change in Inventories 2018 Q4 -25 335 Mil. 2015 EUR, SA Quarterly
Change in Inventories 2018 Q4 -48 607 Mil. EUR, SA Quarterly
Demographics Reference Last Previous Units Frequency
Population Feb 2019 17,300,417 17,290,688 #, NSA Monthly
Births 2017 169,836 172,520 # Annual
Deaths 2017 150,214 148,997 # Annual
Net Migration 2017 107,505 103,419 # Annual
Birth Rate 2015 10.1 10.4 # per Ths. pop. Annual
Death Rate 1996 8.9 8.8 # per Ths. pop. Annual

Factbook

Background

Background:
The Dutch United Provinces declared their independence from Spain in 1579; during the 17th century, they became a leading seafaring and commercial power, with settlements and colonies around the world. After a 20-year French occupation, a Kingdom of the Netherlands was formed in 1815. In 1830, Belgium seceded and formed a separate kingdom. The Netherlands remained neutral in World War I, but suffered German invasion and occupation in World War II. A modern, industrialized nation, the Netherlands is also a large exporter of agricultural products. The country was a founding member of NATO and the EEC (now the EU) and participated in the introduction of the euro in 1999. In October 2010, the former Netherlands Antilles was dissolved and the three smallest islands - Bonaire, Sint Eustatius, and Saba - became special municipalities in the Netherlands administrative structure. The larger islands of Sint Maarten and Curacao joined the Netherlands and Aruba as constituent countries forming the Kingdom of the Netherlands.
In February 2018, the Sint Eustatius island council (governing body) was dissolved and replaced by a government commissioner to restore the integrity of public administration. According to the Dutch Government, the intervention will be as "short as possible and as long as needed."

Geography

Location:
Western Europe, bordering the North Sea, between Belgium and Germany
Geographic coordinates:
52 30 N, 5 45 E
Map references:
Europe
Area:
total: 41,543 sq km
land: 33,893 sq km
water: 7,650 sq km
country comparison to the world: 135
Area - comparative:
slightly less than twice the size of New Jersey
Land boundaries:
total: 1,053 km
border countries (2): Belgium 478 km, Germany 575 km
Coastline:
451 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive fishing zone: 200 nm
Climate:
temperate; marine; cool summers and mild winters
Terrain:
mostly coastal lowland and reclaimed land (polders); some hills in southeast
Elevation:
mean elevation: 30 m
elevation extremes: lowest point: Zuidplaspolder -7 m
highest point: Mount Scenery 862 m (on the island of Saba in the Caribbean, now considered an integral part of the Netherlands following the dissolution of the Netherlands Antilles)
note: the highest point on continental Netherlands is Vaalserberg at 322 m
Natural resources:
natural gas, petroleum, peat, limestone, salt, sand and gravel, arable land
Land use:
agricultural land: 55.1%
arable land 29.8%; permanent crops 1.1%; permanent pasture 24.2%
forest: 10.8%
other: 34.1% (2011 est.)
Irrigated land:
4,860 sq km (2012)
Population - distribution:
an area known as the Randstad, anchored by the cities of Amsterdam, Rotterdam, the Hague, and Utrecht, is the most densely populated region; the north tends to be less dense, though sizeable communities can be found throughout the entire country
Natural hazards:
flooding
volcanism: Mount Scenery (887 m), located on the island of Saba in the Caribbean, last erupted in 1640; Round Hill (601 m), a dormant volcano also known as The Quill, is located on the island of St. Eustatius in the Caribbean; these islands are at the northern end of the volcanic island arc of the Lesser Antilles that extends south to Grenada
Environment - current issues:
water pollution in the form of heavy metals, organic compounds, and nutrients such as nitrates and phosphates; air pollution from vehicles and refining activities; acid rain
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: none of the selected agreements
Geography - note:
located at mouths of three major European rivers (Rhine, Maas or Meuse, and Schelde); about a quarter of the country lies below sea level and only about half of the land exceeds one meter above sea level

People & Society

Population:
17,084,719 (July 2017 est.)
country comparison to the world: 66
Nationality:
noun: Dutchman(men), Dutchwoman(women)
adjective: Dutch
Ethnic groups:
Dutch 77.4%, EU 6.2%, Turkish 2.3%, Moroccan 2.3%, Indonesian 2.1%, Surinamese 2%, other 7.7% (2017 est.)
Languages:
Dutch (official)
note: Frisian is an official language in Fryslan province; Frisian, Low Saxon, Limburgish, Romani, and Yiddish have protected status under the European Charter for Regional or Minority Languages; Dutch is the official language of the three special municipalities of the Caribbean Netherlands; English is a recognized regional language on Sint Eustatius and Saba; Papiamento is a recognized regional language on Bonaire
Religions:
Roman Catholic 23.7%, Protestant 15.5% (includes Dutch Reformed 6.5%, Protestant Church of The Netherlands 5.7%, Calvinist 3.3%), Islam 4.9%, other 5.7% (includes Hindu, Buddhist, Jewish), none 50.1% (2015 est.)
Age structure:
0-14 years: 16.41% (male 1,434,919/female 1,368,437)
15-24 years: 12.07% (male 1,051,319/female 1,010,969)
25-54 years: 39.52% (male 3,387,716/female 3,364,010)
55-64 years: 13.28% (male 1,128,484/female 1,139,703)
65 years and over: 18.73% (male 1,449,752/female 1,749,410) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 53.1
youth dependency ratio: 25.6
elderly dependency ratio: 27.4
potential support ratio: 3.6 (2015 est.)
Median age:
total: 42.6 years
male: 41.5 years
female: 43.6 years (2017 est.)
country comparison to the world: 25
Population growth rate:
0.39% (2017 est.)
country comparison to the world: 164
Birth rate:
10.9 births/1,000 population (2017 est.)
country comparison to the world: 182
Death rate:
8.9 deaths/1,000 population (2017 est.)
country comparison to the world: 67
Net migration rate:
1.9 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 49
Population distribution:
an area known as the Randstad, anchored by the cities of Amsterdam, Rotterdam, the Hague, and Utrecht, is the most densely populated region; the north tends to be less dense, though sizeable communities can be found throughout the entire country
Urbanization:
urban population: 91.5% of total population (2017)
rate of urbanization: 0.72% annual rate of change (2015-20 est.)
Major urban areas - population:
AMSTERDAM (capital) 1.091 million; Rotterdam 993,000; The Hague (seat of government) 650,000 (2015)
Sex ratio:
at birth: 1.05 male(s)/female
0-14 years: 1.05 male(s)/female
15-24 years: 1.04 male(s)/female
25-54 years: 1.01 male(s)/female
55-64 years: 0.99 male(s)/female
65 years and over: 0.82 male(s)/female
total population: 0.98 male(s)/female (2017 est.)
Mother's mean age at first birth:
29.6 years (2015 est.)
Maternal mortality ratio:
7 deaths/100,000 live births (2015 est.)
country comparison to the world: 162
Infant mortality rate:
total: 3.6 deaths/1,000 live births
male: 3.8 deaths/1,000 live births
female: 3.3 deaths/1,000 live births (2017 est.)
country comparison to the world: 201
Life expectancy at birth:
total population: 81.4 years
male: 79.3 years
female: 83.7 years (2017 est.)
country comparison to the world: 25
Total fertility rate:
1.78 children born/woman (2017 est.)
country comparison to the world: 153
Contraceptive prevalence rate:
73%
note: percent of women aged 18-45 (2013)
Health expenditures:
10.9% of GDP (2014)
country comparison to the world: 15
Physicians density:
3.48 physicians/1,000 population (2015)
Hospital bed density:
4.7 beds/1,000 population (2009)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 97.5% of population
rural: 99.9% of population
total: 97.7% of population
unimproved:
urban: 2.5% of population
rural: 0.1% of population
total: 2.3% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.2% (2016 est.)
country comparison to the world: 95
HIV/AIDS - people living with HIV/AIDS:
23,000 (2016 est.)
country comparison to the world: 73
HIV/AIDS - deaths:
<200 (2016 est.)
Obesity - adult prevalence rate:
20.4% (2016)
country comparison to the world: 99
Education expenditures:
5.5% of GDP (2014)
country comparison to the world: 45
School life expectancy (primary to tertiary education):
total: 18 years
male: 18 years
female: 18 years (2012)
Unemployment, youth ages 15-24:
total: 11.3%
male: 11.3%
female: 11.2% (2015 est.)
country comparison to the world: 114

Government

Country name:
conventional long form: Kingdom of the Netherlands
conventional short form: Netherlands
local long form: Koninkrijk der Nederlanden
local short form: Nederland
abbreviation: NL
etymology: the country name literally means "the lowlands" and refers to the geographic features of the land being both flat and down river from higher areas (i.e., at the estuaries of the Scheldt, Meuse, and Rhine Rivers; only about half of the Netherlands is more than 1 meter above sea level)
Government type:
parliamentary constitutional monarchy; part of the Kingdom of the Netherlands
Capital:
name: Amsterdam; note - The Hague is the seat of government
geographic coordinates: 52 21 N, 4 55 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
note: time descriptions apply to the continental Netherlands only, not to the constituent countries in the Caribbean
Administrative divisions:
12 provinces (provincies, singular - provincie); Drenthe, Flevoland, Fryslan (Friesland), Gelderland, Groningen, Limburg, Noord-Brabant (North Brabant), Noord-Holland (North Holland), Overijssel, Utrecht, Zeeland (Zealand), Zuid-Holland (South Holland)
note 1: the Netherlands is one of four constituent countries of the Kingdom of the Netherlands; the other three, Aruba, Curacao, and Sint Maarten, are all islands in the Caribbean; while all four parts are considered equal partners, in practice, most of the Kingdom's affairs are administered by the Netherlands, which makes up about 98% of the Kingdom's total land area and population
note 2: three other Caribbean islands, Bonaire, Saint Eustatius, and Saba, are considered to be special municipalities of the Netherlands proper
Dependent areas:
Aruba, Curacao, Sint Maarten
Independence:
23 January 1579 (the northern provinces of the Low Countries conclude the Union of Utrecht breaking with Spain; on 26 July 1581 they formally declared their independence with an Act of Abjuration; however, it was not until 30 January 1648 and the Peace of Westphalia that Spain recognized this independence)
National holiday:
King's Day (birthday of King WILLEM-ALEXANDER), 27 April (1967); note - King's or Queen's Day are observed on the ruling monarch's birthday; currently celebrated on 26 April if 27 April is a Sunday
Constitution:
history: previous 1597, 1798; latest adopted 24 August 1815 (substantially revised in 1848)
amendments: proposed as an “Act of Parliament” by or on behalf of the king or by the Second Chamber of the States General; the Second Chamber is dissolved after its first reading of the “Act”; passage requires a second reading by both the First Chamber and newly elected Second Chamber, followed by at least two-thirds majority vote of both chambers, and ratification by the king; amended many times, last in 2010 (2016)
Legal system:
civil law system based on the French system; constitution does not permit judicial review of acts of the States General
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of the Netherlands
dual citizenship recognized: no
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: King WILLEM-ALEXANDER (since 30 April 2013); Heir Apparent Princess Catharina-Amalia (since 30 April 2013)
head of government: Prime Minister Mark RUTTE (since 14 October 2010; Deputy Prime Ministers (since 26 October 2017) Hugo DE JONGE, Karin Kajsa OLLONGREN, and Carola SCHOUTEN (since 26 October 2017); note - Mark RUTTE heads his third cabinet put in place since 26 October 2017
cabinet: Council of Ministers appointed by the monarch
elections/appointments: the monarchy is hereditary; following Second Chamber elections, the leader of the majority party or majority coalition is usually appointed prime minister by the monarch; deputy prime ministers are appointed by the monarch
Legislative branch:
description: bicameral States General or Staten Generaal consists of the First Chamber or Eerste Kamer (75 seats; members indirectly elected by the country's 12 provincial council members by proportional representation vote; members serve 4-year terms) and the Second Chamber or Tweede Kamer (150 seats; members directly elected in multi-seat constituencies by proportional representation vote to serve up to 4-year terms)
elections: First Chamber - last held on 26 May 2015 (next to be held in May 2019); Second Chamber - last held on 15 March 2017 (next to be held 15 March 2021)
election results: First Chamber - percent of vote by party - NA; seats by party - VVD 13, CDA 12, D66 10, PVV 9, SP 9, PvdA 8, GL 4, CU 3, other 7; Second Chamber - percent of vote by party - VVD 21.3%, PVV 13.1%, CDA 12.4%, D66 12.2%, GL 9.1%, SP 9.1%, PvdA 5.7%, CU 3.4%, PvdD 3.2%, 50 Plus 3.1%, other 7.4%; seats by party - VVD 33, PVV 20, CDA 19, D66 19, GL 14, SP 14, PvdA 9, CU 5, PvdD 5, 50 Plus 4, other 8
Judicial branch:
highest court(s): Supreme Court or Hoge Raad (consists of 41 judges: the president, 6 vice presidents, 31 justices or raadsheren, and 3 justices in exceptional service, referred to as buitengewone dienst); the court is divided into criminal, civil, tax, and ombuds chambers
judge selection and term of office: justices appointed by the monarch from a list provided by the Second Chamber of the States General; justices appointed for life or until mandatory retirement at age 70
subordinate courts: courts of appeal; district courts, each with up to 5 subdistrict courts; note in mid-July 2017, legislation was proposed to establish a new commericial court for international trade disputes with the Netherlands
Political parties and leaders:
Christian Democratic Appeal or CDA [Sybrand VAN HAERSMA BUMA]
Christian Union or CU [Gert-Jan SEGERS]
Democrats 66 or D66 [Alexander PECHTOLD]
Denk [Tunahan KUZU]
50 Plus [Henk KROL]
Forum for Democracy or FvD [Thierry BAUDET]
Green Left or GL [Jesse KLAVER]
Labor Party or PvdA [Lodewijk ASSCHER]
Party for Freedom or PVV [Geert WILDERS]
Party for the Animals or PvdD [Marianne THIEME]
People's Party for Freedom and Democracy or VVD [Mark RUTTE]
Reformed Political Party or SGP [Kees VAN DER STAAIJ]
Socialist Party or SP [Lilian MARIJNISSEN]
plus a few minor parties
Political pressure groups and leaders:
Christian Trade Union Federation or CNV [Maurice LIMMEN]
Confederation of Netherlands Industry and Employers or VNO-NCW [Hans DE BOER]
Federation for Small and Medium-sized Businesses or MKB
Netherlands Trade Union Federation or FNV [Han BUSKER]
Social Economic Council or SER [Mariette HAMER]
International organization participation:
ADB (nonregional member), AfDB (nonregional member), Arctic Council (observer), Australia Group, Benelux, BIS, CBSS (observer), CD, CE, CERN, EAPC, EBRD, ECB, EIB, EITI (implementing country), EMU, ESA, EU, FAO, FATF, G-10, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSMA, NATO, NEA, NSG, OAS (observer), OECD, OPCW, OSCE, Pacific Alliance (observer), Paris Club, PCA, Schengen Convention, SELEC (observer), UN, UNCTAD, UNDOF, UNESCO, UNHCR, UNIDO, UNMISS, UNRWA, UNTSO, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Hendrik Jan Jurriaan SCHUWER (since 17 September 2015)
chancery: 4200 Linnean Avenue NW, Washington, DC 20008
telephone: [1] (202) 244-5300, [1] 877-388-2443
FAX: [1] (202) 362-3430
consulate(s) general: Chicago, Miami, New York, San Francisco
Diplomatic representation from the US:
chief of mission: Ambassador Peter HOEKSTRA (since 10 January 2018)
embassy: John Adams Park 1, 2244 BZ Wassenaar
mailing address: PSC 71, Box 1000, APO AE 09715
telephone: [31] (70) 310-2209
FAX: [31] (70) 310-2207
consulate(s) general: Amsterdam
Flag description:
three equal horizontal bands of red (bright vermilion; top), white, and blue (cobalt); similar to the flag of Luxembourg, which uses a lighter blue and is longer; the colors were derived from those of WILLIAM I, Prince of Orange, who led the Dutch Revolt against Spanish sovereignty in the latter half of the 16th century; originally the upper band was orange, but because its dye tended to turn red over time, the red shade was eventually made the permanent color; the banner is perhaps the oldest tricolor in continuous use
National symbol(s):
lion, tulip; national color: orange
National anthem:
name: "Het Wilhelmus" (The William)
lyrics/music: Philips VAN MARNIX van Sint Aldegonde (presumed)/unknown
note: adopted 1932, in use since the 17th century, making it the oldest national anthem in the world; also known as "Wilhelmus van Nassouwe" (William of Nassau), it is in the form of an acrostic, where the first letter of each stanza spells the name of the leader of the Dutch Revolt

Economy

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):
$915.2 billion (2017 est.)
$888 billion (2016 est.)
$868.8 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 28
GDP (official exchange rate):
$824.5 billion (2017 est.)
GDP - real growth rate:
3.1% (2017 est.)
2.2% (2016 est.)
2.3% (2015 est.)
country comparison to the world: 112
GDP - per capita (PPP):
$53,600 (2017 est.)
$52,100 (2016 est.)
$51,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 22
Gross national saving:
30.6% of GDP (2017 est.)
28.5% of GDP (2016 est.)
28.5% of GDP (2015 est.)
country comparison to the world: 23
GDP - composition, by end use:
household consumption: 44.4%
government consumption: 24.7%
investment in fixed capital: 20.5%
investment in inventories: 0.1%
exports of goods and services: 85.3%
imports of goods and services: -75% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 1.6%
industry: 17.9%
services: 70.2% (2017 est.)
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:
2.5% (2017 est.)
country comparison to the world: 113
Labor force:
7.969 million (2017 est.)
country comparison to the world: 63
Labor force - by occupation:
agriculture: 1.2%
industry: 17.2%
services: 81.6% (2015 est.)
Unemployment rate:
5.1% (2017 est.)
5.9% (2016 est.)
country comparison to the world: 70
Population below poverty line:
8.8% (2015 est.)
Household income or consumption by percentage share:
lowest 10%: 2.3%
highest 10%: 24.9% (2014 est.)
Distribution of family income - Gini index:
30.3 (2015 est.)
25.1 (2013 est.)
country comparison to the world: 131
Budget:
revenues: $344.8 billion
expenditures: $340.2 billion (2017 est.)
Taxes and other revenues:
41.8% of GDP (2017 est.)
country comparison to the world: 30
Budget surplus (+) or deficit (-):
0.6% of GDP (2017 est.)
country comparison to the world: 22
Public debt:
59% of GDP (2017 est.)
61.8% of GDP (2016 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
country comparison to the world: 78
Fiscal year:
calendar year
Inflation rate (consumer prices):
1.3% (2017 est.)
0.1% (2016 est.)
country comparison to the world: 57
Central bank discount rate:
0% (31 December 2016 est.)
0.05% (31 December 2015 est.)
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: 153
Commercial bank prime lending rate:
1.5% (31 December 2017 est.)
1.47% (31 December 2016 est.)
country comparison to the world: 183
Stock of narrow money:
$452.7 billion (31 December 2017 est.)
$411.9 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: 13
Stock of broad money:
$907.8 billion (31 December 2017 est.)
$827.6 billion (31 December 2016 est.)
country comparison to the world: 17
Stock of domestic credit:
$1.636 trillion (31 December 2017 est.)
$1.507 trillion (31 December 2016 est.)
country comparison to the world: 15
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: 18
Current account balance:
$82.44 billion (2017 est.)
$65.71 billion (2016 est.)
country comparison to the world: 6
Exports:
$526.4 billion (2017 est.)
$495.4 billion (2016 est.)
country comparison to the world: 9
Exports - commodities:
machinery and transport equipment, chemicals, mineral fuels; food and livestock, manufactured goods
Exports - partners:
Germany 24.1%, Belgium 10.7%, UK 9.4%, France 8.8%, Italy 4.2% (2016)
Imports:
$435.4 billion (2017 est.)
$402.9 billion (2016 est.)
country comparison to the world: 11
Imports - commodities:
machinery and transport equipment, chemicals, fuels, foodstuffs, clothing
Imports - partners:
Germany 15.3%, China 14.1%, Belgium 8.4%, US 7.9%, UK 5.3%, Russia 4.1% (2016)
Reserves of foreign exchange and gold:
$36.13 billion (31 December 2016 est.)
$38.21 billion (31 December 2015 est.)
country comparison to the world: 46
Debt - external:
$4.063 trillion (31 December 2016 est.)
$4.054 trillion (31 December 2015 est.)
country comparison to the world: 6
Stock of direct foreign investment - at home:
$4.888 trillion (31 December 2017 est.)
$4.759 trillion (31 December 2016 est.)
country comparison to the world: 2
Stock of direct foreign investment - abroad:
$5.809 trillion (31 December 2017 est.)
$5.623 trillion (31 December 2016 est.)
country comparison to the world: 2
Exchange rates:
euros (EUR) per US dollar -
0.89 (2017 est.)
0.9 (2016 est.)
0.92 (2015 est.)
0.89 (2014 est.)
0.76 (2013 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
102.5 billion kWh (2015 est.)
country comparison to the world: 35
Electricity - consumption:
106 billion kWh (2015 est.)
country comparison to the world: 33
Electricity - exports:
19.34 billion kWh (2016 est.)
country comparison to the world: 9
Electricity - imports:
24.26 billion kWh (2016 est.)
country comparison to the world: 8
Electricity - installed generating capacity:
33.86 million kW (2015 est.)
country comparison to the world: 30
Electricity - from fossil fuels:
80.4% of total installed capacity (2015 est.)
country comparison to the world: 87
Electricity - from nuclear fuels:
1.4% of total installed capacity (2015 est.)
country comparison to the world: 30
Electricity - from hydroelectric plants:
0.1% of total installed capacity (2015 est.)
country comparison to the world: 155
Electricity - from other renewable sources:
22% of total installed capacity (2015 est.)
country comparison to the world: 28
Crude oil - production:
18,090 bbl/day (2016 est.)
country comparison to the world: 72
Crude oil - exports:
6,335 bbl/day (2016 est.)
country comparison to the world: 62
Crude oil - imports:
1.09 million bbl/day (2016 est.)
country comparison to the world: 10
Crude oil - proved reserves:
113.2 million bbl (1 January 2017 est.)
country comparison to the world: 72
Refined petroleum products - production:
1.28 million bbl/day (2016 est.)
country comparison to the world: 15
Refined petroleum products - consumption:
973,000 bbl/day (2016 est.)
country comparison to the world: 22
Refined petroleum products - exports:
2.331 million bbl/day (2016 est.)
country comparison to the world: 3
Refined petroleum products - imports:
2.1 million bbl/day (2016 est.)
country comparison to the world: 4
Natural gas - production:
47.46 billion cu m
note: the Netherlands has curbed gas production due to seismic activity in the province of Groningen, largest source of gas reserves (2016 est.)
country comparison to the world: 17
Natural gas - consumption:
39.96 billion cu m (2015 est.)
country comparison to the world: 30
Natural gas - exports:
53.65 billion cu m (2016 est.)
country comparison to the world: 6
Natural gas - imports:
39.57 billion cu m (2016 est.)
country comparison to the world: 11
Natural gas - proved reserves:
786.6 billion cu m (1 January 2017 est.)
country comparison to the world: 28
Carbon dioxide emissions from consumption of energy:
184.8 million Mt (2015 est.)
country comparison to the world: 32

Communications

Telephones - fixed lines:
total subscriptions: 6.774 million
subscriptions per 100 inhabitants: 40 (July 2016 est.)
country comparison to the world: 26
Telephones - mobile cellular:
total: 20.89 million
subscriptions per 100 inhabitants: 122 (July 2016 est.)
country comparison to the world: 56
Telephone system:
general assessment: highly developed and well maintained
domestic: extensive fixed-line, fiber-optic network; large cellular telephone system with five major operators utilizing the third generation of the Global System for Mobile Communications technology; one in five households now use Voice over the Internet Protocol services
international: country code - 31; submarine cables provide links to the US and Europe; satellite earth stations - 5 (3 Intelsat - 1 Indian Ocean and 2 Atlantic Ocean, 1 Eutelsat, and 1 Inmarsat (2011)
Broadcast media:
more than 90% of households are connected to cable or satellite TV systems that provide a wide range of domestic and foreign channels; public service broadcast system includes multiple broadcasters, 3 with a national reach and the remainder operating in regional and local markets; 2 major nationwide commercial television companies, each with 3 or more stations, and many commercial TV stations in regional and local markets; nearly 600 radio stations with a mix of public and private stations providing national or regional coverage (2008)
Internet country code:
.nl
Internet users:
total: 15,385,203
percent of population: 90.4% (July 2016 est.)
country comparison to the world: 39

Transportation

National air transport system:
number of registered air carriers: 8
inventory of registered aircraft operated by air carriers: 244
annual passenger traffic on registered air carriers: 34,870,204
annual freight traffic on registered air carriers: 5,292,794,685 mt-km (2015)
Civil aircraft registration country code prefix:
PH (2016)
Airports:
29 (2013)
country comparison to the world: 120
Airports - with paved runways:
total: 23
over 3,047 m: 3
2,438 to 3,047 m: 11
1,524 to 2,437 m: 1
914 to 1,523 m: 6
under 914 m: 2 (2017)
Airports - with unpaved runways:
total: 6
914 to 1,523 m: 4
under 914 m: 2 (2013)
Heliports:
1 (2013)
Pipelines:
gas 14,000 km; oil and refined products 2,500 km; chemicals 3,000 km (2016)
Railways:
total: 3,058 km
standard gauge: 3,058 km 1.435-m gauge (2,314 km electrified) (2016)
country comparison to the world: 60
Roadways:
total: 139,124 km (includes 3,654 km of expressways) (2016)
country comparison to the world: 37
Waterways:
6,237 km (navigable by ships up to 50 tons) (2012)
country comparison to the world: 21
Merchant marine:
total: 1,244
by type: bulk carrier 11, container ship 42, general cargo 597, oil tanker 15, other 579 (2017)
country comparison to the world: 23
Ports and terminals:
major seaport(s): IJmuiden, Vlissingen
river port(s): Amsterdam (Nordsee Kanaal); Moerdijk (Hollands Diep River); Rotterdam (Rhine River); Terneuzen (Western Scheldt River)
container port(s) (TEUs): Rotterdam (12,235,000) (2015)
LNG terminal(s) (import): Rotterdam

Military & Security

Military expenditures:
1.17% of GDP (2017)
1.17% of GDP (2016)
1.16% of GDP (2015)
1.15% of GDP (2014)
1.16% of GDP (2013)
country comparison to the world: 101
Military branches:
Royal Netherlands Army, Royal Netherlands Navy (includes Naval Air Service and Marine Corps), Royal Netherlands Air Force (Koninklijke Luchtmacht, KLu), Royal Marechaussee (Military Police) (2015)
Military service age and obligation:
17 years of age for an all-volunteer force (2014)

Transnational Issues

Disputes - international:
none
Refugees and internally displaced persons:
refugees (country of origin): 28,394 (Syria); 16,512 (Somalia); 13,488 (Eritrea); 12,740 (Iraq); 5,791 (Afghanistan) (2016)
stateless persons: 1,951 (2016)
Illicit drugs:
major European producer of synthetic drugs, including ecstasy, and cannabis cultivator; important gateway for cocaine, heroin, and hashish entering Europe; major source of US-bound ecstasy and a significant consumer of ecstasy; a large financial sector vulnerable to money laundering

Economic Indicators for Netherlands including actual values, historical data, and latest data updates for the Netherlands economy.



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