A river under the bridge in the Netherlands

Netherlands Economic Data & Projections

Netherlands Economic Outlook

A trade and logistics powerhouse:

The Netherlands has one of the most open and export-driven economies in the world, thanks to its advanced infrastructure and strategic location in Europe. The Port of Rotterdam is Europe’s largest, serving as a key gateway for global trade, while Schiphol Airport plays a crucial role in international logistics. The Dutch economy is highly diversified, with strong sectors in agriculture, chemicals, electronics, and financial services.

Innovation and high-tech industry:

The Netherlands is home to major multinational corporations like Philips, ASML, and Shell, with a strong focus on innovation and high-tech industries. The country is a global leader in semiconductor equipment manufacturing, advanced agricultural technology, and renewable energy solutions. Government policies have supported research and development, making the Netherlands a key player in European innovation.

Challenges and climate risks:

The Netherlands faces economic challenges, including housing shortages, labor market tightness, and inflationary pressures. The country is also highly exposed to climate change risks, given its low-lying geography, necessitating continuous investments in flood defenses and sustainable infrastructure. Additionally, increasing EU regulations on energy and emissions could impact traditional industries like petrochemicals and logistics.

Netherlands’ economic forecasts:

The Dutch economy is expected to continue growing, supported by strong trade, technology, and green energy investments. However, economic headwinds such as inflation, geopolitical uncertainty, and environmental regulations will require careful policy management. Strengthening housing availability, boosting digitalization, and maintaining global trade competitiveness will be key priorities in the years ahead.

Netherlands' Macroeconomic Analysis:

Nominal GDP of USD 1,225 billion in 2024.

GDP per capita of USD 68,372 compared to the global average of USD 10,589.

Average real GDP growth of 2% over the last decade.

Share of the region's population
Share of the region's GDP

Sector Analysis

In 2021, services accounted for 80% of overall GDP, manufacturing 11%, other industrial activity 7%, and agriculture 2%. Looking at GDP by expenditure, private consumption accounted for 42% of GDP in 2021, government consumption 26%, fixed investment 21%, and net exports 11%.

GDP by economic sector
GDP by type of expenditure

International trade

In 2021, manufactured products made up 66% of total merchandise exports, mineral fuels 9%, food 15%, ores and metals 3% and agricultural raw materials 3%, with other categories accounting for 4% of the total. In the same period, manufactured products made up 67% of total merchandise imports, mineral fuels 13%, food 12%, ores and metals 3% and agricultural raw materials 2%, with other goods accounting for 3% of the total. Total exports were worth USD 730 billion in 2022, while total imports were USD 653 billion.

Key exports
Key imports
Key export partners
Key import partners

Main Economic Indicators

Economic growth

The economy recorded average annual growth of 2.0% in the decade to 2024. To read more about GDP growth in Netherlands, go to our dedicated page.

Fiscal policy

Netherlands's fiscal deficit averaged 0.8% of GDP in the decade to 2023. Find out more on our dedicated page.

Unemployment

The unemployment rate averaged 5.3% in the decade to 2024. For more information on Netherlands's unemployment click here.

Inflation

Inflation averaged 2.6% in the decade to 2024. Go to our Netherlands inflation page for extra insight.

Monetary Policy

Euro Area monetary policy rate ended 2024 at 3.15%, up from 0.05% a decade earlier. See our Netherlands monetary policy page for additional details.

Exchange Rate

From end-2014 to end-2024 the euro weakened by 20% vs the U.S. dollar. For more info on the euro, click here.

Economic situation in Netherlands

After shifting into a lower gear in Q3 due to cooling growth in public spending and fixed investment plus declining net exports, quarter-on-quarter GDP growth is forecast to have ground to a near halt in Q4. In October–November, goods exports ticked down from Q3’s level, and economic sentiment weakened from the prior quarter in Q4. That said, other data leaves room for optimism. Industrial activity stabilized near Q3’s level through November as stronger mining output broadly offset a downtick in manufacturing. In the same two-month period, retail sales rose from Q3’s level, likely buoyed by lower interest rates and robust real wage growth. Turning to Q1, our panelists expect GDP growth to remain underwhelming despite the ECB’s looser monetary policy stance.

Netherlands Economic Forecasts

Projections out to 2034.

49 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 25 expert analysts.

Want to get insight on the economic outlook for Netherlands in the coming years? FocusEconomics collects projections out to 2034 on 49 economic indicators for Netherlands from a panel of 25 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Netherlands economy. To download a sample report on the Netherlands' economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.

Netherlands Economic Indicators

2019 2020 2021 2022 2023
Government Consumption (ann. var. %) 2.8 1.6 4.7 1.3 2.9
Merchandise Trade Balance (EUR bn) 63.9 61.9 65.0 55.0 85.1
Unemployment (% of active population, aop) 4.4 4.9 4.2 3.5 3.6
Unemployment (% of active population, eop) 4.3 4.9 3.8 3.5 3.6
Stock Market (var. of AEX %) 23.9 3.3 27.7 -13.7 14.2
Private Consumption (ann. var. %) 1.0 -6.1 4.5 6.9 0.8
Current Account Balance (EUR bn) 56.8 45.6 89.3 65.7 105.2
Current Account Balance (% of GDP) 6.8 5.6 10.0 6.6 9.9
Disposable Income (ann. var. %) 2.7 1.7 1.6 0.5 1.4
GDP (EUR bn) 830 816 892 994 1,068
Fiscal Balance (% of GDP) 1.8 -3.6 -2.2 0.0 -0.4
Domestic Demand (ann. var. %) 3.3 -4.2 6.0 5.0 -1.0
10-Year Bond Yield (%, eop) -0.08 -0.50 -0.03 2.90 2.32
Economic Growth (GDP, ann. var. %) 2.3 -3.9 6.3 5.0 0.1
GDP per capita (EUR) 48,013 46,902 51,019 56,496 59,940
Exports (G&S, ann. var. %) 2.7 -3.8 6.8 4.4 -0.5
Imports (G&S, ann. var. %) 4.0 -4.1 6.5 4.4 -1.8
Economic Growth (Nominal GDP, ann. var. %) 5.4 -1.6 9.2 11.5 7.4
Inflation (HICP, ann. var. %, eop) 2.8 0.9 6.4 11.0 1.0
Inflation (HICP, ann. var. %, aop) 2.7 1.1 2.8 11.6 4.1
Industrial Production (ann. var. %) -1.5 -3.1 3.6 3.7 -1.0
Fixed Investment (ann. var. %) 7.4 -2.5 2.4 3.4 1.3
Retail Sales (ann. var. %) 2.0 2.5 2.8 0.5 -1.5
Population (million) 17.3 17.4 17.5 17.6 17.8
Inflation (PPI, ann. var. %, aop) 0.6 -3.2 10.1 20.4 -0.2
Public Debt (% of GDP) 47.6 53.3 50.4 48.3 45.1
Foreign Direct Investment (EUR bn) 14.2 -66.7 -61.8 -75.4 -152.5
ECB Refinancing Rate (%, eop) 0.00 0.00 0.00 2.50 4.50
ECB Overnight Deposit Rate (%, eop) -0.50 -0.50 -0.50 2.00 4.00
Exchange Rate (USD per EUR, eop) 1.12 1.22 1.14 1.07 1.10
Exchange Rate (USD per EUR, aop) 1.12 1.14 1.18 1.05 1.08
3-Month EURIBOR (%, eop) -0.38 -0.55 -0.57 2.13 3.91
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