Netherlands Economy:
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 (purchasing power parity):
$481.1 billion (2004 est.)
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)
Labor force:
7.53 million (2004 est.)
Labor force — by occupation:
services: 73%, industry: 23%, agriculture: 4% (1998 est.)
Unemployment rate:
6% (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 est.)
Inflation rate (consumer prices):
1.4% (2004 est.)
Budget:
revenues: $256.9 billion (2004 est.)
expenditures: $274.4 billion including capital expenditures of NA (2004 est.)
Public debt:
55.8% of GDP (2004 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
Industrial production growth rate:
0.8% (2004 est.)
Electricity — production:
90.61 billion kWh (2002 est.)
Electricity — consumption:
100.7 billion kWh (2002 est.)
Electricity — exports:
4.5 billion kWh (2002 est.)
Electricity — imports:
20.9 billion kWh (2002 est.)
Oil — production:
46,200 bbl/day (2001 est.)
Oil — consumption:
895,300 bbl/day (2001 est.)
Oil — exports:
1.42 million bbl/day (2001 est.)
Oil — imports:
2.28 million bbl/day (2001 est.)
Oil — proved reserves:
88.06 million bbl (1 January 2002 est.)
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:
1.69 trillion cu m (1 January 2002 est.)
Current account balance:
$19.9 billion (2004 est.)
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)
Reserves of foreign exchange and gold:
$21.44 billion (2003 est.)
Economic aid — donor:
$4 billion ODA (2003 est.)
Currency:
euro (EUR)
note: On 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries
Exchange rates:
euros per US$: 0.81 (2004 est.), 0.89 (2003 est.), 1.06 (2002 est.), 1.12 (2001 est.), 1.09 (2000 est.)
Fiscal year:
calendar year
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