Netherlands - Economy
How is the economy of Netherlands? Based on the information we have, Netherlands has a high-income, core EU- and eurozone-member economy; trade-oriented with strong services, logistics, and high tech sectors; exiting mild recession triggered by inflation and weak export demand; tight labor market; low deficits and manageable public debt; strong ratings for innovation, competitiveness, and business climate. Key agricultural products in this country include: milk, sugar beets, potatoes, pork, onions, wheat, chicken, tomatoes, carrots/turnips, goat milk (2022).
More about the economy of Netherlands
Labor force 9.999 million (2023 est.)
Industrial production growth rate -2.02% (2023 est.)
Industries agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing
Population below poverty line 14.5% (2021 est.)
Taxes and other revenues 24.11% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency euros (EUR) per US dollar -
Exchange rates 2023 0.925 (2023 est.)
Exchange rates 2022 0.95 (2022 est.)
Exchange rates 2021 0.845 (2021 est.)
Exchange rates 2020 0.876 (2020 est.)
Exchange rates 2019 0.893 (2019 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $69.83 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $63.353 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $64.469 billion (2021 est.)
Current account balance
Current account balance 2023 $112.952 billion (2023 est.)
Current account balance 2022 $93.836 billion (2022 est.)
Current account balance 2021 $124.924 billion (2021 est.)
Public debt
Public debt 2017 56.5% of GDP (2017 est.)
Budget
Revenues $399.616 billion (2022 est.)
Expenditures $398.696 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.24% of GDP (2023 est.)
Remittances 2022 0.23% of GDP (2022 est.)
Remittances 2021 0.22% of GDP (2021 est.)
Household income
Lowest 10% 3.6% (2021 est.)
Highest 10% 21.4% (2021 est.)
Average household expenditures
On food 11.8% of household expenditures (2022 est.)
On alcohol and tobacco 3% of household expenditures (2022 est.)
Imports
Imports 2023 $825.799 billion (2023 est.)
Imports 2022 $835.47 billion (2022 est.)
Imports 2021 $749.324 billion (2021 est.)
Imports (partners) Germany 14%, China 12%, US 9%, Belgium 9%, UK 5% (2022)
Comodities Imports force crude petroleum, refined petroleum, natural gas, broadcasting equipment, computers (2022)
Exports
Imports 2023 $825.799 billion (2023 est.)
Imports 2022 $835.47 billion (2022 est.)
Imports 2021 $749.324 billion (2021 est.)
Exports (partners) Germany 19%, Belgium 14%, France 9%, UK 6%, Italy 5% (2022)
Comodities Exports force refined petroleum, broadcasting equipment, machinery, packaged medicine, crude petroleum (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $1.24 trillion (2023 est.)
Real GDP (purchasing power parity) 2022 $1.238 trillion (2022 est.)
Real GDP (purchasing power parity) 2021 $1.187 trillion (2021 est.)
GDP (official exchange rate) $1.118 trillion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $69,300 (2023 est.)
Real GDP per capita 2022 $70,000 (2022 est.)
Real GDP per capita 2021 $67,700 (2021 est.)
GDP - composition, by sector of origin
Agriculture 1.5% (2023 est.)
Industry 19.4% (2023 est.)
Services 69.3% (2023 est.)
GDP - composition, by end use
Household consumption 43.5% (2023 est.)
Government consumption 25.3% (2023 est.)
Investment in fixed capital 20.5% (2023 est.)
Investment in inventories -0.4% (2023 est.)
Exports of goods and services 85% (2023 est.)
Imports of goods and services -73.9% (2023 est.)
Unemployment rate
Unemployment rate 2023 3.56% (2023 est.)
Unemployment rate 2022 3.52% (2022 est.)
Unemployment rate 2021 4.21% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 8.9% (2023 est.)
Male 9.4% (2023 est.)
Female 8.5% (2023 est.)
All Important Facts about Netherlands

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Netherlands is found in Western Europe