The Dutch economy shrank by 8.5 percent on quarter in the three months to June 2020, the steepest pace of contraction since the series began in 1988, following a 1.5 percent contraction in the previous quarter. That was the second consecutive quarterly decline in GDP, which means the country officially entered a recession due to the coronavirus health crisis that ravaged business activity and global demand. Household consumption slumped 11.3 percent (vs -2.6 percent in Q1), fixed investment tumbled 11.3 percent (vs 0.6 percent in Q1) and government spending decreased 3.1 percent (vs -1.5 percent in Q1). In addition, net external demand contributed negatively to the GDP as exports plunged 10.3 percent and imports were down 9.5 percent. On a yearly basis, the economy shrank by a record 9.4 percent. source: Statistics Netherlands

GDP Growth Rate in Netherlands averaged 0.45 percent from 1988 until 2020, reaching an all time high of 1.70 percent in the first quarter of 1999 and a record low of -8.50 percent in the second quarter of 2020. This page provides - Netherlands GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Netherlands GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

GDP Growth Rate in Netherlands is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Netherlands to stand at 0.90 in 12 months time. In the long-term, the Netherlands GDP Growth Rate is projected to trend around 0.60 percent in 2021 and 0.50 percent in 2022, according to our econometric models.

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Netherlands GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-8.50 -1.50 1.70 -8.50 1988 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-05-15 07:30 AM QoQ Flash Q1 -1.7% 0.4% -3% -2.6%
2020-06-24 04:30 AM QoQ Final Q1 -1.5% 0.5% -1.7% -1.7%
2020-08-14 07:30 AM QoQ Flash Q2 -8.5% -1.5% -9.2% -10.8%
2020-09-23 04:30 AM QoQ Final Q2 -8.5% -1.5% -8.5% -8.5%
2020-11-13 08:30 AM QoQ Flash Q3 -8.5% 5.9%
2020-12-24 05:30 AM QoQ Final Q3 -8.5% 5.9%


News Stream
Dutch Economy Shrinks at Record Pace in Q2
The Dutch economy shrank by 8.5 percent on quarter in the three months to June 2020, the steepest pace of contraction since the series began in 1988, following a 1.5 percent contraction in the previous quarter. That was the second consecutive quarterly decline in GDP, which means the country officially entered a recession due to the coronavirus health crisis that ravaged business activity and global demand. Household consumption slumped 11.3 percent (vs -2.6 percent in Q1), fixed investment tumbled 11.3 percent (vs 0.6 percent in Q1) and government spending decreased 3.1 percent (vs -1.5 percent in Q1). In addition, net external demand contributed negatively to the GDP as exports plunged 10.3 percent and imports were down 9.5 percent. On a yearly basis, the economy shrank by a record 9.4 percent.
2020-09-23
Dutch Economy Contracts at Record Pace
The Dutch economy shrank 8.5 percent on quarter in the three months to June 2020, the steepest pace of contraction since comparable records began in 1988 and compared to market expectations of a 9.2 percent slump, a preliminary estimate showed. That was the second consecutive quarterly decline in GDP, which means the country officially entered a recession, due to the COVID-19 pandemic and the government efforts to curb the spread of the virus. Household consumption tumbled 10.4 percent (vs -2.6 percent in Q1), fixed investment plunged 12.4 percent (vs 0.6 percent in Q1) and government spending declined 3.0 percent (vs -1.5 percent in Q1). In addition, net external demand contributed negatively to the GDP as exports slumped 9.8 percent and imports were down 8.3 percent.
2020-08-14
Dutch Economy Shrinks Less than Initially Thought
The Netherlands' economy shrank 1.5 percent on quarter in the first three months of 2020, the steepest period of contraction since the first quarter of 2009, but better than a preliminary estimate of a 1.7 percent drop, as the coronavirus pandemic hit demand and activity. Household consumption tumbled 2.6 percent, while government spending dropped 1.5 percent. In addition, net external demand contributed negatively to the GDP as both exports and imports were sharply down. Meantime, fixed investment growth eased to 0.6 percent from 1.3 percent in the fourth quarter.
2020-06-24
Dutch GDP Contracts the Most in 11 Years
The Netherlands' economy shrank 1.7 percent on quarter in the first three months of 2020, the most since the first quarter of 2009 and compared to market expectations of a 3 percent slump, a preliminary estimate showed, as the coronavirus pandemic hit demand and activity. Household consumption tumbled 2.7 percent, the biggest decline since the start of the series in 1987, and fixed investment fell 1.1 percent. In addition, government spending dropped 1.4 percent, and both exports and imports were sharply down. On the production side, the sharpest contractions were seen in the culture, recreation, sports & other services, the trade, transport, catering & storage, and the government, education & health care sectors.
2020-05-15

Netherlands GDP Growth Rate
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).