Economy - overview The Netherlands is a prosperous and open economy depending heavily on foreign trade. The economy is noted for stable industrial relations, moderate 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, 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 - $413 billion (2001 est.)

GDP - real growth rate 1.1% (2001 est.)

GDP - per capita purchasing power parity - $25,800 (2001 est.)

GDP - composition by sector
agriculture: 3.3%
industry: 26.3%
services: 70.4% (2000 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) 4.5% (2001 est.)

Labor force 7.2 million (2000)

Labor force - by occupation services 73%, industry 23%, agriculture 4% (1998 est.)

Unemployment rate 2.4% (2001)

Budget
revenues: $134 billion
expenditures: $134 billion, including capital expenditures of $NA (2001 est.)

Industries agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing

Industrial production growth rate 1.9% (2001)

Electricity - production 87.953 billion kWh (2000)

Electricity - production by source
fossil fuel: 90.27%
hydro: 0.16%
other: 5.33% (2000)
nuclear: 4.24%

Electricity - consumption 100.712 billion kWh (2000)

Electricity - exports 4.031 billion kWh (2000)

Electricity - imports 22.946 billion kWh (2000)

Agriculture - products grains, potatoes, sugar beets, fruits, vegetables; livestock

Exports $214 billion (f.o.b., 2001)

Exports - commodities machinery and equipment, chemicals, fuels; foodstuffs

Exports - partners EU 78% (Germany 26%, Benelux 12%, France 12%, UK 11%, Italy 6%), Central and Eastern Europe, US (2000)

Imports $195 billion (f.o.b., 2001 est.)

Imports - commodities machinery and transport equipment, chemicals, fuels; foodstuffs, clothing

Imports - partners EU 56% (Germany 18%, Benelux 10%, UK 9%, France 6%), US 10% (2000)

Economic aid - donor ODA, $3.5 billion (2000 est.)

Currency euro (EUR); Netherlands guilder (NLG)
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; NLG

Exchange rates euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999); Netherlands guilders per US dollar - 1.9837 (1998), 1.9513 (1997)

Fiscal year calendar year

NOTE: The information regarding Netherlands on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Netherlands Economy 2002 information contained here. All suggestions for corrections of any errors about Netherlands Economy 2002 should be addressed to the CIA.