The Netherlands' economy shrank 0.1 percent on quarter in the three months to December 2020, following a record 7.7 expansion in the previous three-month period and an unprecedented contraction of 8.4 percent in the second quarter. Household consumption fell 1.4 percent (vs 9.0 percent in Q3) and public spending dropped 0.4 percent (vs 6.9 percent in Q3). On the other hand, fixed investment grew 1.7 percent (vs 7.2 percent in Q3), while external trade contributed positively to the GDP growth, as exports rose more than imports. Year-on-year, the economy shrank 2.8 percent, following a 2.4 percent contraction in the third quarter. Considering 2020 full year, the GDP declined 3.7 percent, after a 1.7 percent expansion in 2019. 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 May 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.