Netherlands GDP Growth Rate

Last Release

Jun 30, 2024

Actual

Units In

-0.1

Frequency

Quarterly

Next Release

Dec 24, 2024

Time to Release

2 Months 29 Days 5 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 expanded by 1% quarter-on-quarter in the three months to June 2024, consistent with preliminary estimates and rebounding from a 0.3% drop in the previous quarter. It marked the sharpest economic expansion since the second quarter of 2022, largely supported by a positive contribution from net trade. Exports of goods and services advanced by 1.7%, while imports rose at a softer rate of 0.9%. In addition, government spending expanded by 1.2%, attributed to increased spending on healthcare, public administration, and asylum seeker reception. Fixed asset investments also grew by 0.6%, driven by substantial rises in transportation, housing, and machinery. Meanwhile, household consumption fell by 1%, influenced by decreased spending on food, luxury items, energy, and hospitality. On a yearly basis, Dutch GDP grew by 0.8%, recovering from a 0.6% contraction in the preceding quarter.