Netherlands GDP Growth Rate

The Gross Domestic Product (GDP) in Netherlands contracted 0.10 percent in the first quarter of 2013 over the previous quarter. GDP Growth Rate in Netherlands is reported by the Dutch Statistics Office. Historically, from 1988 until 2013, Netherlands GDP Growth Rate averaged 0.55 Percent reaching an all time high of 2 Percent in June of 1996 and a record low of -2.20 Percent in March of 2009. The Netherlands is the fifth largest economy in the Euro Zone and the third largest exporter in the region. The economy is dependent on foreign trade and derives more than 65 percent of GDP from both port activities and merchandise exports. The port of Rotterdam is the largest port in Europe and the third busiest in the world. The Netherlands’ economy is also noted for its stability, high skilled workforce and developed infrastructure. As a result, the country is the sixth biggest destination of foreign direct investment in the world. This page includes a chart with historical data for Netherlands GDP Growth Rate.

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Netherlands GDP Growth Rate
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Dutch Economy Remains in Recession in Q1
CBS | Nuno Fontes | nuno@tradingeconomics.com  |  5/15/2013 2:07:50 PM


According to the first estimate conducted by Statistics Netherlands, the Dutch economy contracted 0.1 percent in the first quarter of 2013 relative to the fourth quarter of 2012. For the third consecutive quarter, the economy is in decline. In the preceding quarters the economy shrank by 1.0 and 0.4 percent respectively. The contraction relative to the first quarter of 2012 was 1.7 percent.

Household spending was 2.1 percent down in the first quarter from one year previously. Household consumption has shown a downward trend for two years now. Consumers are very reluctant when it comes to purchasing durable articles. In the first quarter, they also bought far fewer cars, articles of clothing and furniture than one year previously. Spending on food, drinks, tobacco and services also declined further, but due to the cold weather conditions, the consumption of natural gas was much higher. 
 
Government consumption contracted 0.9 percent. Spending on public administration has fallen over the past three years, but public spending on care did rise in the first quarter. Fixed capital formation plummeted  by 11.6 percent in the first quarter compared to the first quarter of 2012. Investments have dropped for five quarters in a row. The decline in the first quarter was more substantial than in the preceding quarters and occurred across nearly all categories. 
 
Exports grew by 2.3 percent in the first quarter from last year’s first quarter. Exports of goods manufactured in the Netherlands declined marginally. In 2012 exports still grew somewhat. The reason for the decline in the first quarter is the reduced foreign demand for manufactured products, in particular metal products and transport vehicles. Re-exports grew 4.4 percent in the first quarter. The growth was less substantial than in the preceding quarters. As consumption and investments fell and re-exports grew only modestly, imports hardly improved. 
 
Many sectors suffer the effects of the lasting econimc recession. The construction sector took the biggest blow. In the first quarter, output generated by the construction sector slumped 11.6 percent compared to one year previously. Manufacturing output fell by 4.5 percent in the first quarter. The sector mineral extraction, on the other hand, showed substantial growth due to higher domestic consumption of natural gas and higher exports.

ARCHIVE
Netherlands Economy Contraction Revised Downwards in Q4
According to Statistics Netherlands’ second estimate of economic growth, the Dutch economy shrank by 0.4 percent in the fourth quarter of 2012 compared with the preceding quarter. The first estimate, published on 14 February put the contraction at 0.2 percent. 2013-04-01
Dutch Economy Shrinks 0.9% in Q3
According to Statistics Netherlands, the Dutch economy shrank by 0.9 percent in the third quarter of 2012 compared with the second quarter. In the first two quarters of the year, the economy grew slightly, by 0.1 percent. 2012-12-21
Netherlands Economy Shrinks 0.2 Percent in Q4
According to the first estimate of the CBS, the economy in the fourth quarter of 2012 contracted 0.2 percent compared to the previous quarter. In the third quarter the economy shrank by 1.0 percent from the second quarter. Compared to the fourth quarter of 2011 the economy contracted by 0.9 percent. 2013-02-14
Dutch Economy Shrinks 1.1% in Q3
According to the first, provisional estimate of Statistics Netherlands, the Dutch economy shrank by 1.1 percent in the third quarter of 2012 compared with the second quarter. In the first two quarters of the year, the economy grew slightly, by 0.1 percent. 2012-12-14



GDP Growth Rate | Notes

The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.






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