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Netherlands:
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Other pages in this profile of the Netherlands:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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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 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. The country continues to be one of the leading European nations for attracting foreign direct investment. Economic growth slowed considerably in 2001-06, 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 (purchasing power parity) |
$529.6 billion (2006 est.) |
GDP (official exchange rate) |
$613.3 billion (2006 est.) |
GDP - real growth rate |
3% (2006 est.) |
GDP - per capita |
$32,100 (2006 est.) |
GDP - composition by sector |
agriculture: 2.2% industry: 24.1% services: 73.7% (2006 est.) |
Labor force |
7.49 million (2006 est.) |
Labor force - by occupation |
agriculture: 2% industry: 19% services: 79% (2004 est.) |
Unemployment rate |
5.5% (2006 est.) |
Population below poverty line |
10.5% (1999) |
Household income or consumption by percentage share |
lowest 10%: 2.5% highest 10%: 22.9% (1999) |
Distribution of family income - Gini index |
30.9 (2005) |
Inflation rate (consumer prices) |
1.1% (2006 est.) |
Investment (gross fixed) |
19.7% of GDP (2006 est.) |
Budget |
revenues: $317.1 billion expenditures: $313.1 billion (2006 est.) |
Public debt |
49.4% of GDP (2006 est.) |
Agriculture - products |
grains, potatoes, sugar beets, fruits, vegetables; livestock |
Industries |
agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing |
Electricity - production |
94.34 billion kWh (2005) |
Electricity - consumption |
108.2 billion kWh (2005) |
Electricity - exports |
5.398 billion kWh (2005) |
Electricity - imports |
23.69 billion kWh (2005) |
Oil - production |
95,800 bbl/day (2004) |
Oil - consumption |
946,700 bbl/day (2004 est.) |
Oil - exports |
1.546 million bbl/day (2004) |
Oil - imports |
2.465 million bbl/day (2004) |
Oil - proved reserves |
106 million bbl (1 January 2006) |
Natural Gas - production |
75.58 billion cu m (2005 est.) |
Natural Gas - consumption |
47.46 billion cu m (2005 est.) |
Natural Gas - exports |
50.21 billion cu m (2005 est.) |
Natural Gas - imports |
22.08 billion cu m (2005) |
Natural Gas - proved reserves |
1.684 trillion cu m (1 January 2006 est.) |
Current account balance |
$57.52 billion (2006 est.) |
Exports |
$391.1 billion f.o.b. (2006 est.) |
Exports - commodities |
machinery and equipment, chemicals, fuels; foodstuffs |
Exports - partners |
Germany 25.5%, Belgium 14%, UK 8.9%, France 8.6%, Italy 5.1%, US 4.5% (2006) |
Imports |
$343 billion f.o.b. (2006 est.) |
Imports - commodities |
machinery and transport equipment, chemicals, fuels, foodstuffs, clothing |
Imports - partners |
Germany 17.1%, Belgium 9.4%, China 9.4%, US 7.8%, UK 5.9%, Russia 5.1%, France 4.5% (2006) |
Reserves of foreign exchange and gold |
$23.9 billion (2006 est.) |
Debt - external |
$1.899 trillion (30 June 2006) |
Economic aid - donor |
ODA, $4 billion (2003 est.) |
Currency (code) |
euro (EUR) note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries |
Exchange rates |
euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002) |
Fiscal year |
calendar year |
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