Economy - overview:
The Netherlands has a prosperous and open economy, which depends heavily on foreign trade. The economy is noted for stable industrial relations, moderate unemployment and inflation, a sizable current account surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs no more than 4% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The country continues to be one of the leading European nations for attracting foreign direct investment. Economic growth slowed considerably in 2001-04, as part of the global economic slowdown, but for the four years before that, annual growth averaged nearly 4%, well above the EU average.
GDP:
purchasing power parity - $481.1 billion (2004 est.)
GDP - real growth rate:
1.2% (2004 est.)
GDP - per capita:
purchasing power parity - $29,500 (2004 est.)
GDP - composition by sector:
agriculture: 2.4%
industry: 24.5%
services: 73.1% (2004 est.)
Labor force:
7.53 million (2004 est.)
Labor force - by occupation:
agriculture 4%, industry 23%, services 73% (1998 est.)
Unemployment rate:
6% (2004 est.)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: 2.8%
highest 10%: 25.1% (1994)
Distribution of family income - Gini index:
32.6 (1994)
Inflation rate (consumer prices):
1.4% (2004 est.)
Investment (gross fixed):
19.9% of GDP (2004 est.)
Budget:
revenues: $256.9 billion
expenditures: $274.4 billion, including capital expenditures of NA (2004 est.)
Public debt:
55.8% of GDP (2004 est.)
Agriculture - products:
grains, potatoes, sugar beets, fruits, vegetables; livestock
Industries:
agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing
Industrial production growth rate:
0.8% (2004 est.)
Electricity - production:
90.61 billion kWh (2002)
Electricity - production by source:
fossil fuel: 89.9%
hydro: 0.1%
nuclear: 4.3%
other: 5.7% (2001)
Electricity - consumption:
100.7 billion kWh (2002)
Electricity - exports:
4.5 billion kWh (2002)
Electricity - imports:
20.9 billion kWh (2002)
Oil - production:
46,200 bbl/day (2001 est.)
Oil - consumption:
895,300 bbl/day (2001 est.)
Oil - exports:
1.418 million bbl/day (2001)
Oil - imports:
2.284 million bbl/day (2001)
Oil - proved reserves:
88.06 million bbl (1 January 2002)
Natural gas - production:
77.75 billion cu m (2001 est.)
Natural gas - consumption:
49.72 billion cu m (2001 est.)
Natural gas - exports:
49.28 billion cu m (2001 est.)
Natural gas - imports:
20.78 billion cu m (2001 est.)
Natural gas - proved reserves:
1.693 trillion cu m (1 January 2002)
Current account balance:
$19.9 billion (2004 est.)
Exports:
$293.1 billion f.o.b. (2004 est.)
Exports - commodities:
machinery and equipment, chemicals, fuels; foodstuffs
Exports - partners:
Germany 25%, Belgium 12.6%, UK 10.1%, France 9.8%, Italy 6%, US 4.2% (2004)
Imports:
$252.7 billion f.o.b. (2004 est.)
Imports - commodities:
machinery and transport equipment, chemicals, fuels; foodstuffs, clothing
Imports - partners:
Germany 17.7%, Belgium 10.2%, US 7.8%, China 7.1%, UK 6.6%, France 4.9% (2004)
Reserves of foreign exchange and gold:
$21.44 billion (2003)
Economic aid - donor:
ODA, $4 billion (2003 est.)
Currency (code):
euro (EUR)
note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries
Currency code:
EUR
Exchange rates:
euros per US dollar - 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000)
Fiscal year:
calendar year
More about Netherlands:
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Geography
People
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Communications
Transportation
Military
Transnational Issues
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