Netherlands GDP Growth Rate

Last Release

Sep 30, 2024

Actual

0.8

Units In

Frequency

Quarterly

Next Release

Dec 24, 2024

Time to Release

1 Months 8 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
7.5 Sep 2020	-8.4 Jun 2020	0.52 %	1988-2024	Statistics Netherlands

The Netherlands is the sixth-largest economy in the Euro Zone and important transportation hub in Europe. The Dutch economy depends heavily on foreign trade, with exports accounting for 83 percent of GDP and imports for 72 percent. Household consumption is the main component of GDP (45 percent) followed by government expenditure (26 percent), gross fixed capital formation (18 percent) and net trade (11 percent).

Latest Updates

The Netherlands' economy grew by 0.8% quarter-on-quarter in Q3 2024, slowing from an upwardly revised 1.1% in the previous quarter, preliminary estimates showed. This growth was primarily driven by household and government consumption, both up 0.8%. Households spent more on clothing, home furnishings, and energy, while government spending increased, notably in healthcare and public administration. Fixed asset investments rose 0.7%, focused on housing and machinery. Exports of goods and services increased by 0.4%, but imports rose more sharply at 0.6%, leading to a 1.0% decline in the trade balance. Year-on-year, Dutch GDP expanded by 1.7%, improving from 0.8% growth in the previous quarter.