Dutch Economy, Netherlands Economy

Economy - overview: The Netherlands has a prosperous and open economy, which depends heavily on foreign trade. The economy is noted for stable industrial relations, moderate unemployment and inflation, a sizable current account 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 no more than 4% 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. The country continues to be one of the leading European nations for attracting foreign direct investment. Economic growth slowed considerably in 2001-04, as part of the global economic slowdown, but for the four years before that, annual growth averaged nearly 4%, well above the EU average.

GDP: 1.6% (2004)

GDP - real growth rate: 1.2% (2004 est.)

GDP - per capita: Purchasing power parity - $29,500 (2004 est.)

GDP - composition by sector: Agriculture: 2.4% industry: 24.5% services: 73.1% (2004 est.)

Population below poverty line: NA

Household income or consumption by percentage share: Lowest 10%: 2.8% highest 10%: 25.1% (1994)

Distribution of family income - Gini index: 32.6 (1994)

Inflation rate (consumer prices):

Labor force: 7.53 million (2004 est.)

Labor force - by occupation: Agriculture 4%, industry 23%, services 73% (1998 est.)

Unemployment rate: 6% (2004 est.)

Budget: Revenues: $256.9 billion expenditures: $274.4 billion, including capital expenditures of NA (2004 est.)

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

Industrial production growth rate: 0.8% (2004 est.)

Electricity - production: 90.61 billion kWh (2002)

Electricity - production by source:

Electricity - consumption: 100.7 billion kWh (2002)

Electricity - exports: 4.5 billion kWh (2002)

Electricity - imports: 20.9 billion kWh (2002)

Oil - production: 46,200 bbl/day (2001 est.)

Oil - consumption: 895,300 bbl/day (2001 est.)

Oil - exports: 1.418 million bbl/day (2001)

Oil - imports: 2.284 million bbl/day (2001)

Oil - proved reserves: 88.06 million bbl (1 January 2002)

Natural gas - production: 77.75 billion cu m (2001 est.)

Natural gas - consumption: 49.72 billion cu m (2001 est.)

Natural gas - exports: 49.28 billion cu m (2001 est.)

Natural gas - imports: 20.78 billion cu m (2001 est.)

Natural gas - proved reserves: 1.693 trillion cu m (1 January 2002)

Agriculture - products: Grains, potatoes, sugar beets, fruits, vegetables; livestock

Exports: $293.1 billion f.o.b. (2004 est.)

Exports - commodities: Machinery and equipment, chemicals, fuels; foodstuffs

Exports - partners: Germany 25%, Belgium 12.4%, UK 10.1%, France 9.9%, Italy 6%, US 4.3% (2004)

Imports: $252.7 billion f.o.b. (2004 est.)

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

Imports - partners: Germany 17.9%, Belgium 9.9%, US 7.9%, China 7.4%, UK 6.4%, France 4.8% (2004)

Debt - external:

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Euros per US dollar - 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000)

Fiscal year: Calendar year

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The information here has been derived from Public Domain Sources such as the CIA World Factbook. No liability can be taken for any inaccuracies.

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