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.) |
| Debt - external | |
| Debt - external 2019 | $4,345,413,000,000 (2019 est.) |
| Debt - external 2018 | $4,625,016,000,000 (2018 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 | $396.687 billion (2019 est.) |
| Expenditures | $374.166 billion (2019 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 | 12.1% of household expenditures (2021 est.) |
| On alcohol and tobacco | 3.3% of household expenditures (2021 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 | 1.6% (2017 est.) |
| Industry | 17.9% (2017 est.) |
| Services | 70.2% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 44.3% (2017 est.) |
| Government consumption | 24.2% (2017 est.) |
| Investment in fixed capital | 20.5% (2017 est.) |
| Investment in inventories | 0.2% (2017 est.) |
| Exports of goods and services | 83% (2017 est.) |
| Imports of goods and services | -72.3% (2017 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
Want to know more about Netherlands? Check all different factbooks for Netherlands below.
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Netherlands Factbook
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The Economy of Netherlands
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Learn about the Government of Netherlands
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Communication in Netherlands
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Popular Universities in Netherlands
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Enerny in Netherlands
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Transport in Netherlands
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The Geography and society of Netherlands
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The Environment of Netherlands
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Military and security in Netherlands