Netherlands GDP Q3 2017


Netherlands: Economy slows in Q3 following a stellar performance in Q2

November 14, 2017

The Dutch economy slowed markedly in the third quarter, according to preliminary data released by the Central Bureau of Statistics (CBS) on 14 November. GDP increased 0.4% quarter-on-quarter, down from the impressive 1.5% quarter-on-quarter growth rate in the prior quarter and slightly below market expectations of a 0.5% figure. Growth was, nonetheless, broad-based: Fixed investment, private consumption and exports grew in Q3 over the previous quarter.

A year-on-year comparison showed that the pace of expansion in the Dutch economy slowed marginally in the third quarter from the previous quarter; GDP grew 3.0%, slightly below the previous quarter’s 3.3% year-on-year expansion. The result was driven by a pick-up in the growth of exports, fixed investments and private consumption. Exports of goods and services increased at a quicker pace than in the previous two quarters. Re-exports, which are exports of imported products, performed remarkably well. Fixed investment growth was chiefly focused on residential property, while the pick-up in private consumption was partially reflective of the improved labor market dynamics.

More detailed data will be released on 22 December.

Considering the newly-installed government’s budget and policies, the government expects the economy to grow 3.1% in 2018 and 1.9% in 2019. FocusEconomics Consensus Forecast panelists, however, see GDP growing 2.1%, which is up 0.1 percentage points from last month’s projection. For 2019, the panel expects the economy to expand 1.8%.

Author:, Economist

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Netherlands GDP Chart

Netherlands GDP Q3 2017

Note: Quarter-on-quarter changes of seasonally adjusted GDP and year-on-year variation in %.
Source: Statistics Netherlands (CBS) and FocusEconomics Consensus Forecast.

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