The Netherland’s economy fell by 0.1% on quarter in the three months to March of 2024, returning into contraction after a downwardly revised 0.3% expansion in the previous period, a preliminary estimate showed. The slight decline was mainly attributable to the continued decrease in inventories (-0.7% vs -0.6% in Q4), and the negative contribution from net trade, as exports fell 0.1% (vs -0.1%), while imports were stagnant (vs 0.2%). At the same time, growth slowed for household consumption (0.7% vs 2.0%), while it was unchanged for government spending (0.6%). In contrast, fixed investments rebounded 0.4%, ending a two-quarter period of declines, due to increased investments for transport and machinery. On a yearly basis, Dutch GDP shrank 0.7%, slipping further from a 0.4% drop in the previous period. source: Statistics Netherlands
The Gross Domestic Product (GDP) in Netherlands contracted 0.10 percent in the first quarter of 2024 over the previous quarter. GDP Growth Rate in Netherlands averaged 0.52 percent from 1988 until 2024, reaching an all time high of 6.40 percent in the third quarter of 2020 and a record low of -8.30 percent in the second quarter of 2020. This page provides - Netherlands GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Netherlands GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2024.
The Gross Domestic Product (GDP) in Netherlands contracted 0.10 percent in the first quarter of 2024 over the previous quarter. GDP Growth Rate in Netherlands is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Netherlands GDP Growth Rate is projected to trend around 0.40 percent in 2025, according to our econometric models.
Netherlands GDP Growth Rate
The Netherlands is the sixth-largest economy in the Euro Zone and important transportation hub in Europe. The Dutch economy depends heavily on foreign trade, with exports accounting for 83 percent of GDP and imports for 72 percent. Household consumption is the main component of GDP (45 percent) followed by government expenditure (26 percent), gross fixed capital formation (18 percent) and net trade (11 percent).
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| -0.10 | 0.30 | 6.40 | -8.30 | 1988 - 2024 | percent | Quarterly |
News Stream
Dutch Economy Returns to Contraction in Q1
The Netherland’s economy fell by 0.1% on quarter in the three months to March of 2024, returning into contraction after a downwardly revised 0.3% expansion in the previous period, a preliminary estimate showed. The slight decline was mainly attributable to the continued decrease in inventories (-0.7% vs -0.6% in Q4), and the negative contribution from net trade, as exports fell 0.1% (vs -0.1%), while imports were stagnant (vs 0.2%). At the same time, growth slowed for household consumption (0.7% vs 2.0%), while it was unchanged for government spending (0.6%). In contrast, fixed investments rebounded 0.4%, ending a two-quarter period of declines, due to increased investments for transport and machinery. On a yearly basis, Dutch GDP shrank 0.7%, slipping further from a 0.4% drop in the previous period.
2024-05-15
Dutch Q4 GDP Revised Higher
The Netherlands’ economy expanded by 0.4% on quarter in the three months to December 2023, higher than initial and market estimates of a 0.3% rise and following a revised 0.2% fall in the previous period. It ended a three-quarter period of economic contraction, driven by a strong rebound in household consumption (1.9% vs -0.2% in Q3), and a continued increase in government spending (0.7% vs 1.3%). At the same time, fixed investments fell at a softer rate of 1.8% compared to a 2.5% drop in the prior period. Meanwhile, net trade contributed negatively to the GDP growth, as exports declined 0.1% (vs -2%), and imports rose 0.2% (-2.7%). On a yearly basis, the economy shrank 0.4%, moderating from a 0.8% contraction in the previous quarter. For the whole of 2023, the GDP growth sharply eased to 0.1% from a robust 4.3% last year.
2024-03-25
Dutch GDP Returns to Growth at the End of 2023
The Netherlands' economy expanded by 0.3% in the fourth quarter of 2023, marking the end of a three-quarter period of contraction, a preliminary estimate showed. Notably, household consumption rebounded by 1.8%, driven by increased spending on durable goods, services, and other goods. Furthermore, government consumption grew by 0.4%, while investments in fixed assets declined by 2.1% due to reduced investments in housing, commercial buildings, means of transport, and machinery. Meanwhile, net trade made no contribution to GDP growth, as both exports and imports of goods and services increased by 0.3%. In comparison with the corresponding period last year, Dutch GDP declined by 0.5% in the fourth quarter, marking a softer decrease than the 0.8% observed in the previous three-month period.
2024-02-14
