Economy of the Netherlands

According to the World Bank and the International Monetary Fund, the Netherlands was the 18th largest economy of the world in 2012, while the country has only about 17 million inhabitants. (see: List of countries by GDP (nominal)). GDP per capita is roughly $48,860 which makes it one of richest nations in the world (see: List of countries by GDP (PPP) per capita). Between 1996 and 2000 annual economic growth (GDP) averaged over 4%, well above the European average. Growth slowed considerably in 2001–05 as part of the global economic slowdown. 2006 and 2007 however showed economic growth of 3.4% and 3.9%. The Dutch economy was hit considerably by the ongoing global financial crisis and the ensuing European debt crisis. The Netherlands has discovered huge natural gas resources since 1959. The sale of natural gas generated enormous revenues for the Netherlands for decades, adding hundreds of billions of euros to the government's budget. However, the unforeseen consequences of the country's huge energy wealth impacted the competitiveness of other sectors of the economy, leading to the theory of Dutch disease. The Netherlands have a prosperous and open economy, which depends heavily on foreign trade. The economy is noted for stable industrial relations, fairly low unemployment and inflation, a very big sizable current account surplus (compared to the size of the country even more than Germany) and an important role as a European transportation hub, with Rotterdam as by far the biggest port in Europe and Amsterdam with one of the biggest airports in Europe. Industrial activity is predominantly in food processing, chemicals, petroleum refining, hightech, financial services, creative sector and electrical machinery. A highly mechanised agricultural sector employs no more than 2% of the labour 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 stern financial policy has been abandoned in 2009 because of the current credit crises. The relatively large banking sector was partly nationalised and bailed out through government interventions. The unemployment rate dropped to 5.0% in the summer of 2011, but increased with a sharp rate since then to 7.3% in May 2013, 6.8% in 2015 but dropped again to 3.9% in March 2018. The state budget deficit is about 2.2% in 2015 well below the norm of 3.0% in the EU. In 2016 the state budget showed a surplus of 0.4% and this is expected to grow to a surplus of over 1.0% in 2017. Historically, the Dutch introduced and invented the stock market by the merchandise trading through Dutch East India Company. The Netherlands is a founding member of the European Union, the OECD and the World Trade Organization. ^[1]

26 relations: AMRO Bank, Beter Bed, Budget Memorandum (Netherlands), Catholic People's Party, De Nederlandsche Bank, Denk (political party), Dutch general election, 2006, Dutch guilder, Economy of Bulgaria, Employers' organization, Great Depression in the Netherlands, History of the Netherlands, Liberalism in the Netherlands, List of next general elections, List of the largest trading partners of the Netherlands, Netherlands Authority for the Financial Markets, Opole, Outline of the Netherlands, Publiekrechtelijke Bedrijfsorganisatie, Ruud Lubbers, Social-Economic Council, Timeline of the Great Recession, Tourism in the Netherlands, Trade unions in the Netherlands, Turks in the Netherlands, Wim Kok.

AMRO Bank

AMRO Bank (Amsterdamsche en Rotterdamsche Bank) was a major Dutch bank that was created from the merger of the Amsterdamsche Bank and the Rotterdamsche Bank in 1964.

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Beter Bed

Beter Bed N.V. is a Dutch holding company.

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Budget Memorandum (Netherlands)

The Budget Memorandum (Dutch: Miljoenennota, literally "Millions Bill") is a general explanation by the Government of the Netherlands of the expected revenues and expenses in the National Budget for a year.

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Catholic People's Party

The Catholic People's Party (Katholieke Volkspartij, KVP) was a Catholic Christian democratic political party in the Netherlands.

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De Nederlandsche Bank

De Nederlandsche Bank (DNB) is the central bank of the Netherlands.

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Denk (political party)

Denk (Dutch for "think" and Turkish for "equality", self-styled as DENK) is a political party in the Netherlands.

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Dutch general election, 2006

General elections were held in the Netherlands on 22 November 2006 following the fall of the Second Balkenende cabinet.

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Dutch guilder

The Dutch guilder (gulden) or fl. was the currency of the Netherlands from the 17th century until 2002, when it was replaced by the euro.

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Economy of Bulgaria

The economy of Bulgaria functions on the principles of the free market, having a large private sector and a smaller public one.

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Employers' organization

Just like trade unions being represented by workers for promoting their economic and social interests,in the same manner employer's join employers organisation.An employers' organization or employers' association is a collective organization of manufacturers, retailers, or other employers of wage labor.

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Great Depression in the Netherlands

The Great Depression in the Netherlands occurred between 1933 and 1936,Beishuizen, Jan, & Werkman, Evert (1967) De Magere Jaren: Nederland in de crisistijd, 1929–1939, 2nd edition.

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History of the Netherlands

The history of the Netherlands is the history of seafaring people thriving on a lowland river delta on the North Sea in northwestern Europe.

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Liberalism in the Netherlands

Liberalism in the Netherlands started as an anti-monarchical effort spearheaded by the Dutch statesman Thorbecke, who almost single-handedly wrote the 1848 Constitution of the Netherlands that turned the country into a constitutional monarchy.

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List of next general elections

This is a list of the next general elections around the world in democratic polities.

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List of the largest trading partners of the Netherlands

This is a list of the largest trading partners of the Netherlands based on data from The Observatory of Economic Complexity (OEC).

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Netherlands Authority for the Financial Markets

The Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) is the financial services regulatory authority for the Netherlands.

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Opole

Opole (Oppeln, Silesian German: Uppeln, Uopole, Opolí) is a city located in southern Poland on the Oder River and the historical capital of Upper Silesia.

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Outline of the Netherlands

The following outline is provided as an overview of and topical guide to the Netherlands.

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Publiekrechtelijke Bedrijfsorganisatie

Publiekrechtelijke Bedrijfsorganisatie (in English Sectoral organisation under public law, abbreviated PBO) is a Dutch form of government.

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Ruud Lubbers

Rudolphus Franciscus Marie "Ruud" Lubbers (7 May 1939 – 14 February 2018) was a Dutch politician and diplomat of the Christian Democratic Appeal (CDA), who served as Prime Minister of the Netherlands from 4 November 1982 until 22 August 1994.

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Social-Economic Council

The Sociaal-Economische Raad (English: Social and Economic Council; SER) is a major economic advisory council to the cabinet of the Netherlands.

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Timeline of the Great Recession

This article gives the timeline of the Great Recession, which hit many developed economies in the wake of the financial crisis of 2007-2008.

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Tourism in the Netherlands

Tourism in the Netherlands is a relatively small sector of the country's economy with a total contribution of 5.4% to gross domestic product and 9.6% to employment.

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Trade unions in the Netherlands

Trade Unions play a major role in the corporatist Dutch economy.

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Turks in the Netherlands

Turks in the Netherlands (occasionally Dutch Turks or Turkish-Dutch) (Turkse Nederlander; Hollanda Türkleri) are the ethnic Turks living in the Netherlands.

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Wim Kok

Willem "Wim" Kok (born 29 September 1938) is a retired Dutch politician of the Labour Party (PvdA) who served as Prime Minister of the Netherlands from 22 August 1994 until 22 July 2002.

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Redirects here:

Dutch economy, Economy of Holland, Economy of Netherlands, Economy of The Netherlands, Economy of the netherlands, Netherlands economy, Netherlands/Economy.

References

[1] https://en.wikipedia.org/wiki/Economy_of_the_Netherlands

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Economy of the Netherlands

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