| Economy | Netherlands |
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Economy - overview:
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The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade 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 only 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. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.9% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% in 2010 that contrasted sharply with a surplus of 0.7% of GDP in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 4.2% of GDP. |
GDP (purchasing power parity):
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$705.7 billion (2011 est.)
$694.4 billion (2010 est.)
$683.2 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$42,300 (2011 est.)
$41,800 (2010 est.)
$41,300 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$858.3 billion (2011 est.) |
GDP - real growth rate:
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1.6% (2011 est.)
1.6% (2010 est.)
-3.5% (2009 est.) |
GDP - composition by sector:
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agriculture: 2.7%
industry: 24.2%
services: 73% (2011 est.) |
Investment (gross fixed):
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19.1% of GDP (2011 est.) |
Population below poverty line:
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10.5% (2005) |
Household income or consumption by percentage share:
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lowest 10%: 2.5%
highest 10%: 22.9% (1999) |
Distribution of family income - Gini index:
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30.9 (2007)
32.6 (1994) |
Inflation rate (consumer prices):
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2.3% (2011 est.)
1.3% (2010 est.) |
Central bank discount rate:
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1.75% (31 December 2010)
1.75% (31 December 2009)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area |
Commercial bank prime lending rate:
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3.4% (31 December 2011 est.)
3.013% (31 December 2010 est.) |
Stock of money:
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$NA
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money and quasi money circulating within their own borders |
Stock of money - per capita:
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void |
Stock of quasi money:
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$NA |
Stock of quasi money - per capita:
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void |
Stock of domestic credit:
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$2.083 trillion (31 December 2009 est.)
$1.824 trillion (31 December 2008) |
Stock of domestic credit - per capita:
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123,643 USD per capita |
Stock of narrow money:
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$398 billion (31 December 2011 est.)
$375.5 billion (31 December 2010 est.)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 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 |
Stock of broad money:
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$1.174 trillion (31 December 2011 est.)
$1.088 trillion (31 December 2010 est.) |
Labor force:
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7.785 million (2011 est.) |
Labor force participation rate:
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46.21 % of population |
Labor force - by occupation:
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agriculture: 2%
industry: 18%
services: 80% (2005 est.) |
Unemployment rate:
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5.2% (2011 est.)
5.5% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 6.6%
male: 7.1%
female: 6.2% (2009) |
Budget:
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revenues: $392.1 billion
expenditures: $424.8 billion (2011 est.) |
Budget revenues per capita:
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23,275 USD per capita |
Taxes and other revenues:
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45.7% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-3.8% of GDP (2011 est.) |
Public debt:
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64.4% of GDP (2011 est.)
62.7% of GDP (2010 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. |
Industries:
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agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing |
Industrial production growth rate:
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0% (2011 est.) |
Electricity - production:
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105.7 billion kWh (2009 est.) |
Electricity - production per capita:
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6,275 kWh per capita |
Electricity - consumption:
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112.5 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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6,678 kWh per capita |
Electricity - exports:
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10.56 billion kWh (2009 est.) |
Electricity - imports:
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4.888 billion kWh (2009 est.) |
Oil - production:
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59,490 bbl/day (2010 est.) |
Oil - production per capita:
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3,532 bbl/day per capita |
Oil - consumption:
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1.009 million bbl/day (2010 est.) |
Oil - consumption - per capita:
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21.86 bbl/year per capita |
Oil - exports:
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1.871 million bbl/day (2009 est.) |
Oil - imports:
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2.577 million bbl/day (2009 est.) |
Oil - proved reserves:
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310 million bbl (1 January 2011 est.) |
Natural gas - production:
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85.17 billion cu m (2010 est.) |
Natural gas - production per capita:
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5,056 cu m per capita |
Natural gas - consumption:
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53.19 billion cu m (2010 est.) |
Natural gas - consumption - per capita:
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3,158 cu m per capita |
Natural gas - exports:
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57.75 billion cu m (2010 est.) |
Natural gas - imports:
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25.77 billion cu m (2010 est.) |
Natural gas - proved reserves:
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1.387 trillion cu m (1 January 2011 est.) |
Agriculture - products:
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grains, potatoes, sugar beets, fruits, vegetables; livestock |
Current account balance:
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$64.1 billion (2011 est.)
$55.95 billion (2010 est.) |
Current account balance - per capita:
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3,805 USD per capita |
Exports:
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$576.9 billion (2011 est.)
$486.7 billion (2010 est.) |
Exports per capita:
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34,244 USD per capita |
Exports - commodities:
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machinery and equipment, chemicals, fuels; foodstuffs |
Exports - partners:
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Germany 26%, Belgium 13%, France 9.2%, UK 7.7%, Italy 4.9% (2010) |
Imports:
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$514.1 billion (2011 est.)
$429.5 billion (2010 est.) |
Imports per capita:
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30,516 USD per capita |
Imports - commodities:
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machinery and transport equipment, chemicals, fuels, foodstuffs, clothing |
Imports - partners:
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Germany 15.5%, China 12.6%, Belgium 8.3%, US 6.8%, UK 6.2%, Russia 5.6% (2010) |
Reserves of foreign exchange and gold:
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$46.24 billion (31 December 2010 est.)
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Reserves of foreign exchange and gold - per capita:
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2,745 USD per capita |
Debt - external:
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$2.655 trillion (30 June 2011)
$3.733 trillion (31 December 2009) |
Debt - external - per capita:
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157,595 USD per capita |
Stock of direct foreign investment - at home:
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$590.3 billion (31 December 2011 est.)
$587.3 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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35,039 USD per capita |
Stock of direct foreign investment - abroad:
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$989.3 billion (31 December 2011 est.)
$954.6 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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58,723 USD per capita |
Market value of publicly traded shares:
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$661.2 billion (31 December 2010)
$542.5 billion (31 December 2009)
$387.9 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
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39,248 USD per capita |
Currency (code):
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euro (EUR) |
Exchange rates:
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euros (EUR) per US dollar -
0.7107 (2011 est.)
0.755 (2010 est.)
0.7198 (2009 est.)
0.6827 (2008 est.)
0.7345 (2007 est.) |
Fiscal year:
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calendar year |
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