The Netherlands' economy shrank by 0.1 percent on quarter in the three months to December 2020, missing market expectations of a 0.2 percent expansion, a preliminary estimate showed. The latest reading followed a record 7.8 expansion in the previous three-month period and an unprecedented contraction of 8.5 percent in the second quarter. Household consumption was the main driver of contraction, falling 1.4 percent (vs 8.9 percent in Q3), while other negative contributions came from both public spending (-0.1 percent vs 7.2 percent) and net trade, as imports rose more than exports. On the other hand, fixed investment grew by 1.8 percent (vs 7.2 percent in Q3). Year-on-year, the economy shrank by 2.9 percent, following a 2.5 percent contraction in the third quarter. source: Statistics Netherlands
GDP Growth Rate in Netherlands averaged 0.50 percent from 1988 until 2020, reaching an all time high of 7.80 percent in the third quarter of 2020 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 February of 2021.
GDP Growth Rate in Netherlands is expected to be -1.00 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 0.80 in 12 months time. In the long-term, the Netherlands GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.