Economy Of Netherlands - Netherlands Information

Translation Services » Country Guides A - N » Netherlands

Choose the first letter to select required country:

Economy Of Netherlands
Netherlands Information - Country Guides

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 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 2001-03, as part of the global economic slowdown, but for the four years before that, annual growth averaged nearly 4%, well above the EU average. The government is wrestling with a deteriorating budget position, and is moving toward the EU 3% of GDP budget deficit limit.
GDP	purchasing power parity - $461.4 billion (2004 est.)
GDP - real growth rate	-0.7% (2004 est.)
GDP - per capita	purchasing power parity - $28,600 (2004 est.)
GDP - composition by sector	agriculture: 2.5% industry: 24.4% services: 73.1% (2004 est.)
Investment gross fixed	20.1% of GDP (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)
Inflation rate consumer prices	2.1% (2004 est.)
Labor force	7.46 million (2004 est.)
Labor force by occupation	agriculture 4%, industry 23%, services 73% (1998 est.)
Unemployment rate	5.3% (2004 est.)
Budget	revenues: $237.1 billion expenditures: $249.5 billion, including capital expenditures of na (2004 est.)
Public debt	54.1% 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	-2.1% (2004 est.)
Electricity production	88.32 billion kWh (2001)
Electricity production by source	fossil fuel: 89.9% hydro: 0.1% other: 5.7% (2001) nuclear: 4.3%
Electricity consumption	99.42 billion kWh (2001)
Electricity exports	4.209 billion kWh (2001)
Electricity imports	21.49 billion kWh (2001)
Oil production	46,200 bbl/day (2001 est.)
Oil consumption	895,300 bbl/day (2001 est.)
Oil exports	1.418 million bbl/day (2001)
Oil imports	2.284 million bbl/day (2001)
Oil proved reserves	88.06 million bbl (1 January 2002)
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	1.693 trillion cu m (1 January 2002)
Current account balance	$12.09 billion (2004 est.)
Exports	$253.2 billion f.o.b. (2004 est.)
Exports commodities	machinery and equipment, chemicals, fuels; foodstuffs
Exports partners	Germany 25.3%, Belgium 12.6%, France 10.2%, UK 10.1%, Italy 6%, US 4.5% (2003)
Imports	$217.7 billion f.o.b. (2003 est.)
Imports commodities	machinery and transport equipment, chemicals, fuels; foodstuffs, clothing
Imports partners	Germany 18.2%, Belgium 10%, US 8%, UK 7.3%, China 6.2%, France 5% (2003)
Reserves of foreign exchange gold	$21.44 billion (2003)
Debt external
Economic aid recipient
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
Currency code	EUR
Exchange rates	euros per US dollar - 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999)
Fiscal year	calendar year

Dutch Flag Map Of Netherlands

Economy Of NetherlandsNetherlands Information - Country Guides

Economy Of Netherlands
Netherlands Information - Country Guides