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 2001-03, as part of the global economic slowdown, but for the four years before that, annual growth averaged nearly 4%, well above the EU average. The government is wrestling with a deteriorating budget position, and is moving toward the EU 3% of GDP budget deficit limit. |
| GDP: | purchasing power parity - $461.4 billion (2004 est.) |
| GDP - real growth rate: | -0.7% (2004 est.) |
| GDP - per capita: | purchasing power parity - $28,600 (2004 est.) |
| GDP - composition by sector: | agriculture: 2.5%
industry: 24.4%
services: 73.1% (2004 est.) |
| Investment (gross fixed): | 20.1% of GDP (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): | 2.1% (2004 est.) |
| Labor force: | 7.46 million (2004 est.) |
| Labor force - by occupation: | agriculture 4%, industry 23%, services 73% (1998 est.) |
| Unemployment rate: | 5.3% (2004 est.) |
| Budget: | revenues: $237.1 billion
expenditures: $249.5 billion, including capital expenditures of NA (2004 est.) |
| Public debt: | 54.1% 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: | -2.1% (2004 est.) |
| Electricity - production: | 88.32 billion kWh (2001) |
| Electricity - consumption: | 99.42 billion kWh (2001) |
| Electricity - exports: | 4.209 billion kWh (2001) |
| Electricity - imports: | 21.49 billion kWh (2001) |
| 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: | $12.09 billion (2004 est.) |
| Exports: | $253.2 billion f.o.b. (2004 est.) |
| Exports - commodities: | machinery and equipment, chemicals, fuels; foodstuffs |
| Exports - partners: | Germany 25.3%, Belgium 12.6%, France 10.2%, UK 10.1%, Italy 6%, US 4.5% (2003) |
| Imports: | $217.7 billion f.o.b. (2003 est.) |
| Imports - commodities: | machinery and transport equipment, chemicals, fuels; foodstuffs, clothing |
| Imports - partners: | Germany 18.2%, Belgium 10%, US 8%, UK 7.3%, China 6.2%, France 5% (2003) |
| Reserves of foreign exchange & gold: | $21.44 billion (2003) |
| Economic aid - donor: | ODA, $3.3 billion (2002 est.) |
| Currency: | 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 - 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999) |
| Fiscal year: | calendar year
Source: CIA World Factbook
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