Netherlands Economy
Is Netherlands a wealthy country?
The Netherlands boasts a robust and diverse economy that strongly emphasizes international trade, innovation, and a highly developed infrastructure.
International Trade: The Netherlands has a long history of international trade dating back to its strategic location and its tradition as a maritime nation. Today, it remains one of the world's top exporters of goods and services. Rotterdam, Europe's largest port, is central in facilitating trade flows, particularly in Europe.
Highly Developed Infrastructure: The Dutch economy benefits from a well-developed infrastructure, including an extensive network of roads, railways, waterways, and airports. This infrastructure supports domestic economic activities and facilitates international trade and logistics.
Innovation and Technology: The Netherlands is known for its innovative and knowledge-based economy. It is home to several world-renowned technology companies and research institutions. The government actively promotes research and development through investment in education, science parks, and innovation hubs.
Agriculture and Agribusiness: Despite being a relatively small country, the Netherlands is one of the world's leading agricultural producers, particularly in sectors such as horticulture, dairy, and floriculture. The country is known for its advanced agricultural techniques and sustainable practices.
Financial Services: Amsterdam is a central financial hub in Europe, hosting the headquarters of several multinational financial institutions and serving as an important center for banking, insurance, and asset management activities.
Manufacturing: The manufacturing sector in the Netherlands is diverse and includes machinery, electronics, chemicals, and food processing. The country is known for its high-quality manufacturing and engineering capabilities.
Tourism: The Netherlands attracts millions of tourists annually, drawn by its rich cultural heritage, picturesque landscapes, and vibrant cities like Amsterdam, Rotterdam, and Utrecht. Tourism plays a significant role in the Dutch economy, contributing to job creation and revenue generation.
Sustainability and Renewable Energy: The Netherlands is committed to sustainability and renewable energy initiatives, with ambitious targets for reducing carbon emissions and increasing the share of renewable energy in its energy mix. Investments in wind power, solar energy, and sustainable transportation are driving the transition towards a greener economy.
Challenges: Like many other advanced economies, the Netherlands faces challenges such as an aging population, labor market reforms, and adapting to technological disruptions. External factors such as geopolitical tensions and trade uncertainties can also impact the Dutch economy.
Netherlands Economy Data
What is the GDP of Netherlands?
| Currency Name and Code | Euro (EUR) |
| GDP - Gross Domestic Product (PPP) | $945,480,000,000 (USD) |
| GDP - official exchange rate | $750,800,000,000 (USD) |
| GDP - real growth rate | 1.8% |
| GDP Per Capita | $49,300.00 (USD) |
| GDP by Sector- agriculture | 1.6% |
| GDP by Sector- Industry | 18.8% |
| GDP by Sector- services | 79.6% |
| GDP - composition, by end use |
household consumption: 45% government consumption: 25.3% investment in fixed capital: 19% investment in inventories: -0.1% exports of goods and services: 83.6% imports of goods and services: -72.8% |
| Population Below Poverty Line | 10.5% |
| Inflation Rate | 1.1% |
| Labor Force | 7,860,000 |
| Labor Force By Occupation- agriculture | 2.3% |
| Labor Force By Occupation- industry | 18.8% |
| Labor Force By Occupation- services | 78.9% |
| Unemployment Rate | 5.5% |
| Fiscal Year | calendar year |
| Annual Budget | $356,000,000,000 (USD) |
| Budget Surplus or Deficit - percent of GDP | -3.3% |
| Public Debt (% of GDP) | 55% |
| Taxes and other revenues - percent of GDP | 43.7% |
| Major Industries | agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing |
| Industrial Growth Rate | 3.2% |
| Agriculture Products | grains, potatoes, sugar beets, fruits, vegetables; livestock |
| Exchange Rate per US Dollar | euro (EUR) |
| Commercial Bank Prime Lending Rate | 2.3% |