Dutch economy grew 4.5% last year; Consumer spending at record high
1 year, 10 months ago

Dutch economy grew 4.5% last year; Consumer spending at record high

NL Times  

The Dutch economy grew 4.5 percent last year, mainly thanks to more household consumption, Statistics Netherlands reported. Last year, 441,000 jobs were added to the job market, and the share of the Dutch population with paid work reached record heights. The added value of the culture, sports, recreation, and other services sector grew 34 percent last year. The Dutch economy achieved more growth than in neighboring countries and the European Union average last year, after recording lower growth in 2021.

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History of this topic

Dutch economic growth will pick up in coming years, inflation to stay higher than EU
1 week, 4 days ago

Dutch economic growth will pick up in coming years, inflation to stay higher than EU

NL Times  

Economic growth in the Netherlands will pick up in the coming years growing 0.9 percent this year and 1.5 percent each in 2025 and 2026, despite an increasing threat from geopolitical uncertainty. The growth is mainly driven by household consumption and government spending, but the DNB also expects world trade to pick up and exports to contribute more to economic …

Consumer spending and government investments drive Dutch economic growth
2 weeks, 2 days ago

Consumer spending and government investments drive Dutch economic growth

NL Times  

Dutch consumers are expected to increase spending over the next two years, contributing significantly to the country’s economic growth, according to economists at Rabobank. Economists attribute this to an anticipated rise in consumer spending, which accounts for over 40 percent of the economy, and increased government investments in healthcare, defense, and green energy transitions. This growth is fueled by an …

Dutch economy should grow 1.5% next year, but inflation will remain high, says ABN Amro
3 weeks, 2 days ago

Dutch economy should grow 1.5% next year, but inflation will remain high, says ABN Amro

NL Times  

The Dutch economy will continue to grow in the next two years although the pace of this will slow slightly. American import duties will slow the growth somewhat in the second half of next year. In 2025, growth will reach 1.5 percent, after which this will slow down due to the introduction of American import duties. But historically high wage …

Economic growth hits 0.8% in Q3, ahead of eurozone and US
1 month, 1 week ago

Economic growth hits 0.8% in Q3, ahead of eurozone and US

Dutch News  

The Dutch economy grew by an estimated 0.8% in the third quarter of this year when compared with the second, national statistics agency CBS said on Thursday. Economic growth was also up 1.1% in the second quarter, an upward revision of 0.1 percentage point on the earlier estimate. Higher government and consumer spending are behind the increase, chief economist Peter …

Dutch economy grew 0.8 percent in third quarter
1 month, 1 week ago

Dutch economy grew 0.8 percent in third quarter

NL Times  

The Dutch economy grew by 0.8 percent in the third quarter of this year compared to the previous quarter, Statistics Netherlands reported on Thursday based on an initial calculation for the months of July to September. It also adjusted growth in the second quarter slightly higher: instead of 1 percent, the gross domestic product increased by 1.1 percent in that …

Economists think the Dutch economy will avoid a recession
4 months, 1 week ago

Economists think the Dutch economy will avoid a recession

NL Times  

The Dutch economy will most likely avoid a recession. But this time, experts consulted by the financial news agency Bloomberg are counting on an average increase of 0.2 percent compared to the previous period. ABN Amro economist Aggie van Huisseling is expecting 0.2 percent growth. "It is also because the unemployment rate is so low," said Van Huisseling. Van Huisseling …

Poor Dutch economic data last quarter: GDP falls 0.1% as exports slump 6% in March
7 months, 1 week ago

Poor Dutch economic data last quarter: GDP falls 0.1% as exports slump 6% in March

NL Times  

The Dutch economy reversed course during the first three months of the year, with the gross domestic product sliding backward for the fourth time in five quarters. The GDP fell by 0.1 percent from January to March, according to Statistics Netherlands, which released new data on Wednesday that also showed exports fell sharply by 6 percent in March alone. “The …

Not everyone benefiting from Dutch prosperity, DNB president says
9 months, 1 week ago

Not everyone benefiting from Dutch prosperity, DNB president says

NL Times  

“We see that while the Dutch economy is doing quite well, it is not working well enough for some groups in society,” De Nederlandsche Bank president Klaas Knot said on Thursday when presenting the DNB’s annual report. Despite sluggish economic growth, the Dutch economy is still running above capacity and escaped a deep recession despite the pandemic and high inflation. …

Dutch hospitality sector struggling; Fewer restaurants, cafes for first time in 8 years
11 months, 2 weeks ago

Dutch hospitality sector struggling; Fewer restaurants, cafes for first time in 8 years

NL Times  

High personnel, energy, and rent costs put a massive damper on the Dutch hospitality sector’s first full year with no lockdowns after the coronavirus pandemic. Hospitality companies made less profit in 2023, and the number of catering establishments fell for the first time in eight years, trade association KHN said, NU.nl reports. Revenues in the sector rose 14 percent last …

Dutch inflation rate falls to 3.8 percent in 2023, compared to 10 percent in 2022
11 months, 2 weeks ago

Dutch inflation rate falls to 3.8 percent in 2023, compared to 10 percent in 2022

NL Times  

The annual inflation rate in the Netherlands was estimated at 3.8 percent in 2023, according to the first calculation from Statistics Netherlands. In December, this rate of inflation was still 3.4 percent, compared to 4.2 percent a month earlier and 8.1 percent at the peak in February and March. In December, inflation including the energy bill amounted to 1.2 percent …

Dutch debt level falls amid €3 billion surplus; Recession slightly worse than thought
1 year ago

Dutch debt level falls amid €3 billion surplus; Recession slightly worse than thought

NL Times  

The Dutch government managed to bring down the national debt, while collecting a surplus of 3 billion euros in revenue during the first three quarters of the year. According to the national statistics office, the government achieved a surplus of 3 billion euros in the first three quarters of 2023. Government debt also decreased by almost 14 billion euros to …

Dutch economic growth projections slashed in revised European forecast
1 year, 3 months ago

Dutch economic growth projections slashed in revised European forecast

NL Times  

The European Commission has significantly lowered expectations for economic growth in the Netherlands this year. In its summer forecast, the executive body of the European Union now says it expects growth of just 0.5 percent for the Netherlands in 2023. Because many wages have now been significantly increased and inflation is gradually decreasing, consumption will not decline further in the …

No recession, but little growth for Dutch economy this year: ABN Amro
1 year, 9 months ago

No recession, but little growth for Dutch economy this year: ABN Amro

NL Times  

The Dutch economy will not shrink this year, but its growth will slow down, ABN Amro expects. The bank predicts that the economy will grow 1.2 percent this year and 1.3 percent next year. Over the past two years, the Dutch economy grew more than 4 percent per year. The bank expects that consumer prices will rise by 4.4 percent …

Netherlands prevents recession with 4th quarter growth of 0.6 percent
1 year, 10 months ago

Netherlands prevents recession with 4th quarter growth of 0.6 percent

NL Times  

The Dutch economy did not end up in a recession as economists feared. After a 0.2 percent contraction in the third quarter, the economy grew by 0.6 percent in the last quarter of 2022, Statistics Netherlands reported based on initial figures on Tuesday. In the entire 2022, the Dutch economy grew by 4.5 percent, mainly thanks to consumer spending and …

Gloomier outlook for Dutch economy from OECD; Inflation to remain high till 2024
2 years, 1 month ago

Gloomier outlook for Dutch economy from OECD; Inflation to remain high till 2024

NL Times  

The Dutch economy will grow less than previously estimated, mainly due the inflation, which will remain high until at least the end of 2024, the Organization for Economic Cooperation and Development warned in its annual report for the Netherlands, NOS reports. Despite a 0.2 percent contraction in the third quarter, the OECD expects the Dutch economy to grow by 4.2 …

Dutch economy will contract in Q4, EU Commission says
2 years, 1 month ago

Dutch economy will contract in Q4, EU Commission says

Dutch News  

Most European countries will go into recession by the end of this year and this situation will continue until spring 2023, the European Commission said in its latest economic forecasts on Friday. The commission said the Dutch economy is set to stagnate in the third quarter and to contract modestly in the fourth. Read the forecast ‘The shocks unleashed by …

Dutch economy will contract in Q4, EU Commission says
2 years, 1 month ago

Dutch economy will contract in Q4, EU Commission says

Dutch News  

Most European countries will go into recession by the end of this year and this situation will continue until spring 2023, the European Commission said in its latest economic forecasts on Friday. The commission said the Dutch economy is set to stagnate in the third quarter and to contract modestly in the fourth. Read the forecast ‘The shocks unleashed by …

Netherlands in a "mild" economic recession: ING economist
2 years, 1 month ago

Netherlands in a "mild" economic recession: ING economist

NL Times  

The Netherlands is in a mild economic recession, according to ING chief economist Marieke Blom. “I think we have passed the tipping point and are in a mild recession,” Blom said to Nieuwsuur. “But in the third quarter, we see that consumer spending is somewhat lower again.” Based on lower amounts spent and the increase in prices, Blom estimates that …

Tourism sector recovered slightly from Covid-dip last year
2 years, 3 months ago

Tourism sector recovered slightly from Covid-dip last year

NL Times  

The added value of the Dutch tourism sector grew by 13.1 percent in 2021 compared to a year earlier, amounting to 19 billion euros. Because the tourism sector’s added value grew more than the Dutch economy as a whole in 2021, the sector’s share in the Dutch economy increased from 2.3 to 2.5 percent. Last year, tourists spent 5.7 billion …

Dutch inflation above 10% for first time since 1975
2 years, 4 months ago

Dutch inflation above 10% for first time since 1975

NL Times  

Inflation in the Netherlands climbed above 10 percent for the first time since 1975, Statistics Netherlands reported based on its own calculation method. According to the stats office, consumer goods and services were 10.3 percent more expensive in July than in the same month last year. All this led to housing rents rising by 3 percent last month compared to …

Netherlands population numbers boosted by Ukrainian refugees
2 years, 4 months ago

Netherlands population numbers boosted by Ukrainian refugees

NL Times  

The number of residents of the Netherlands grew strongly in the past six months. In the first half of 2022, the number of Netherlands residents increased by almost 120,000, Statistics Netherlands reported. That is nearly the same as the combined population growth in the first half of 2018, 2019, 2020, and 2021. About 195,200 people moved to the Netherlands in …

9.4% inflation expected for Netherlands in 2022
2 years, 5 months ago

9.4% inflation expected for Netherlands in 2022

NL Times  

The average inflation in the Netherlands will be 9.4 percent this year, the European Commission expects. According to the daily management of the EU, inflation will drop to an annual average of 3.3 percent, but economic growth will remain limited to 1 percent. The Commission estimates inflation in 2023 at 4 percent for all euro countries and adjusted economic growth …

Consumer spending pushed Dutch economic growth in first quarter
2 years, 6 months ago

Consumer spending pushed Dutch economic growth in first quarter

NL Times  

The Dutch economy grew in the first three months of this year compared to the closing quarter of 2021 after all. Compared to the same period last year, the Dutch economy grew by 6.7 percent instead of the previous estimate’s 7 percent. Households also generally had more income in the first quarter of this year compared to a year ago, …

Dutch economy grew more than gov't debt in 2021
2 years, 8 months ago

Dutch economy grew more than gov't debt in 2021

NL Times  

Government debt amounted to 52.1 percent of gross domestic product last year, down from 54.3 percent. The Dutch government saw its income increase by 25 billion euros to 337 billion euros last year. People spent more in the second year of the coronavirus crisis than in 2020, which increased the government's VAT revenues by 6 billion euros. Non-tax revenues increased …

Dutch economy saw strongest growth in two decades
2 years, 10 months ago

Dutch economy saw strongest growth in two decades

NL Times  

The Dutch economy grew by 4.8 percent last year - the strongest growth since 1998. The Dutch economy grew slightly in the last quarter of last year, despite the Omicron coronavirus wave and new lockdown measures. According to the stats office, the added value of the hospitality industry was still over 30 percent lower last year than in 2019. And …

NL may get over €1bn less from EU coronavirus recovery funds
2 years, 10 months ago

NL may get over €1bn less from EU coronavirus recovery funds

Dutch News  

The Netherlands may receive more than €1bn less than expected from European coronavirus recovery funds because the economy has performed better than earlier estimates indicated, finance minister Sigrid Kaag told MPs on Friday The Netherlands had expected some €6bn from Brussels and €5.8bn had been used in calculations for drawing up the new government spending plans. However, the real figure …

NL may get over €1bn less from EU coronavirus recovery funds
2 years, 10 months ago

NL may get over €1bn less from EU coronavirus recovery funds

Dutch News  

The Netherlands may receive more than €1bn less than expected from European coronavirus recovery funds because the economy has performed better than earlier estimates indicated, finance minister Sigrid Kaag told MPs on Friday The Netherlands had expected some €6bn from Brussels and €5.8bn had been used in calculations for drawing up the new government spending plans. However, the real figure …

Dutch Central Bank slashed 2022 economic forecast; Long-term vision for pandemic needed
3 years ago

Dutch Central Bank slashed 2022 economic forecast; Long-term vision for pandemic needed

NL Times  

The Dutch Central Bank reduced its economic growth forecast for the Netherlands in 2022, predicting that the hard lockdown announced last weekend will be a blow to the Dutch economy. The central bank predicted the country will achieve growth of 2.2 percent next year, down from the 3.6 percent it previously projected. In a hastily produced calculation, Olaf Sleijpen, the …

Almost all Dutch regions' economies doing better than pre-Covid
3 years ago

Almost all Dutch regions' economies doing better than pre-Covid

NL Times  

In most Dutch regions, the economy had fully recovered from the coronavirus crisis in the third quarter, according to Statistics Netherlands. Only the economies in what the stats office calls Overig Groningen - almost the entire province except for the region around Delfzijl - and Haarlemmermeer are still smaller than before the pandemic. If gas extraction is excluded, the economy …

Amsterdam economy hit harder than the rest of the Netherlands
3 years ago

Amsterdam economy hit harder than the rest of the Netherlands

NL Times  

The economy of Amsterdam and the surrounding region was hit a lot harder by the coronavirus crisis last year than the rest of the Netherlands. The Amsterdam Metropolitan Area reported that the region's economy shrank by 7.1 percent, almost twice as much as the Dutch economy as a whole. The regions were hit extra hard by the coronavirus measures because …

Dutch economy will grow by 3.6 percent next year: ING
3 years ago

Dutch economy will grow by 3.6 percent next year: ING

NL Times  

The Dutch economy will grow by 3.6 percent in 2022 according to projections by ING. "This is the main risk in the growth forecasts, especially with the developments of new variants of the virus," said ING economist Marcel Klok. ING is projecting the Dutch economy to grow by more than 4 percent compared to 2019 levels. ING thinks inflation will …

Dutch economy back to pre-Covid level in 3rd quarter
3 years, 1 month ago

Dutch economy back to pre-Covid level in 3rd quarter

NL Times  

The economy grew by 1.9 percent in the third quarter, bringing it to a higher level than before the pandemic for the first time since the outbreak of the coronavirus crisis, Statistics Netherlands reported. With the new increase, the economy has therefore fully recovered from the coronavirus contraction in the first and second quarter of last year. After that, there …

Disposable income rises most in 20 years as Dutch economy posts stronger growth
3 years, 3 months ago

Disposable income rises most in 20 years as Dutch economy posts stronger growth

NL Times  

The Dutch economy grew more in the second quarter than initial figures showed and that is also reflected in household incomes, which saw the strongest growth since the second quarter of 2002, Statistics Netherlands reported In the second quarter of this year, Dutch households' disposable income was 3.1 percent higher than the same quarter last year. The number of jobs …

Dutch economy to grow 4.2% this year: Rabobank
3 years, 3 months ago

Dutch economy to grow 4.2% this year: Rabobank

NL Times  

The Dutch economy will likely grow by 4.2 percent this year and 3.7 percent next year, Rabobank wrote in a report. The bank expects that almost all business sectors will have fully recovered from the coronavirus crisis by 2022, provided no new restrictive measures are taken. Therefore, the bank expects "relatively strong" growth in gross domestic product in the second …

Dutch economy growing faster than expected; 3.8% growth this year
3 years, 4 months ago

Dutch economy growing faster than expected; 3.8% growth this year

NL Times  

The Dutch economy is growing faster than expected, the Bureau for Economic Policy Analysis said in its draft macro-economic surveys on Friday. The economy is expected to grow 3.8 percent this year, and 3.2 percent next year. The national budget deficit will amount to 5.3 percent this year, and 1.8 percent next year. That is slightly lower than the June …

Second Covid recession over: Dutch economy growing again
3 years, 4 months ago

Second Covid recession over: Dutch economy growing again

NL Times  

After half a year of economic contraction, the Dutch economy grew by 3.1 percent in the second quarter of this year, Statistics Netherlands said on Tuesday based on the currently available figures. The Dutch economy is not back to pre-pandemic levels yet, but with coronavirus lockdown measure relaxing, it seems to be heading that way. Compared to the second quarter …

Brussels revises Dutch economy recovery forecast, 3.3% growth expected
3 years, 5 months ago

Brussels revises Dutch economy recovery forecast, 3.3% growth expected

NL Times  

The European Commission has forecasted economic growth of 3.3% for the Netherlands during the next two years, De Telegraaf reported. “The European economy is making a strong comeback and all the right pieces are falling into place,” said EU Commission Vice President, Valdis Dombrovskis. The EU economy will grow at a rate of 4.8 percent on average this year, up …

Healthcare costs increased by almost 9 billion last year
3 years, 5 months ago

Healthcare costs increased by almost 9 billion last year

NL Times  

Netherlands households, insurers, and the government spent 116 billion euros on care and welfare last year, Statistics Netherlands reported based on preliminary figures. The total amount also includes the bonus for healthcare workers and compensation that care providers received from insurers and municipalities for lost income, as well as government support packages. In total, an average of 6,660 euros per …

Dutch economy to recover to pre-pandemic level by end of year says Central Bank
3 years, 6 months ago

Dutch economy to recover to pre-pandemic level by end of year says Central Bank

NL Times  

The Dutch economy has been showing signs of recovery starting from the second quarter of this year after the historic hit to the GDP last year. Recovery is happening so quickly that GDP could eclipse pre-pandemic levels by the end of the year, the Dutch Central Bank estimated in their semi-annual report. The recovery will continue rapidly next year with …

Dutch economy recovering from Covid crisis faster expected: Rabobank
3 years, 6 months ago

Dutch economy recovering from Covid crisis faster expected: Rabobank

NL Times  

The Dutch economy is recovering from the coronavirus crisis faster than previously thought, Rabobank economists believe. The bank now predicts that the economy will grow by 3.8 percent this year, up from its previous expectation of 2.3 percent growth for 2021, ANP reports. In addition, the Dutch economy turned out to be more resilient than previously thought, the bank stated. …

Dutch saved record €77 billion last year
3 years, 7 months ago

Dutch saved record €77 billion last year

NL Times  

Dutch households managed to hold on to 77 billion euros in savings over the past year, which is the highest annual total since 1995 when Statistics Netherlands started keeping track of the figures. The Netherlands also ranked third behind Belgium and Ireland in savings growth rate among Eurozone members. Some 2,390 euros ended up in savings accounts per person, but …

Netherlands enters second recession since start of pandemic
3 years, 7 months ago

Netherlands enters second recession since start of pandemic

NL Times  

The Netherlands has entered its second economic recession in less than a year with preliminary data showing that the gross domestic product shrank by 0.5 percent during the first quarter of 2021. “In the first quarter of 2021, GDP was still 3.4 percent below the level before the outbreak of the coronavirus pandemic,” the CBS stated. GDP for the quarter …

Disposable income in the Netherlands doubled in the past 50 years
3 years, 8 months ago

Disposable income in the Netherlands doubled in the past 50 years

NL Times  

The average net disposable income for Dutch households rose by 112 percent in 2020 compared to 1969, Statistics Netherlands stated. That means that last year the net disposable income per person lay at 21.9 thousand euros. The faster growth of the GDP compared to the net disposable income is due to a stagnation of the net disposable income per household …

Dutch economy to grow 2.2% this year; Less unemployment than feared
3 years, 8 months ago

Dutch economy to grow 2.2% this year; Less unemployment than feared

NL Times  

The Dutch economy will grow slightly less than previously expected this year due to the ongoing coronavirus pandemic. For this year, the CPB expects the Dutch economy to grow by 2.2 percent. Next year, the economy will strengthen further and CPB expects a growth of 3.5 percent. Now the CPB expects that unemployment will peak next year with over 400 …

Dutch economy shrank by 3.8% last year, worst result since World War II
3 years, 10 months ago

Dutch economy shrank by 3.8% last year, worst result since World War II

Dutch News  

The Dutch economy shrank by 3.8% last year, the biggest contraction since World War II, national statistics agency CBS said on Monday. However, fewer jobs have gone than could have been expected, thanks to government support measures, CBS chief economist Peter Hein van Mulligen told an online press conference. 2021 Last week, the European Commission said the Dutch economy will …

Dutch economy shrank by 3.8% last year, worst result since World War II
3 years, 10 months ago

Dutch economy shrank by 3.8% last year, worst result since World War II

Dutch News  

The Dutch economy shrank by 3.8% last year, the biggest contraction since World War II, national statistics agency CBS said on Monday. However, fewer jobs have gone than could have been expected, thanks to government support measures, CBS chief economist Peter Hein van Mulligen told an online press conference. 2021 Last week, the European Commission said the Dutch economy will …

Dutch economy saw biggest contraction since WWII in 2020
3 years, 10 months ago

Dutch economy saw biggest contraction since WWII in 2020

NL Times  

The Dutch economy shrank by 3.8 percent last year, the largest contraction measured since the Second World War, Statistics Netherlands reported based on the currently available figures on Tuesday. The biggest blow to the economy happened in the second quarter of 2020, when the economy shrank an unprecedented -8.5 percent compared to the previous quarter. The culture, recreation, sports and …

Lockdown extension will push Dutch economy into recession: Economists
3 years, 11 months ago

Lockdown extension will push Dutch economy into recession: Economists

NL Times  

If Prime Minister Mark Rutte extends the current hard coronavirus lockdown as he is expected to announce in a press conference on Tuesday, it will push the Dutch economy into a recession, NU.nl reported after speaking to economists from ING and Rabobank. The economists expect that the economy shrank in the last quarter of 2020, due to the stricter coronavirus …

Covid caused temporary dip in NL population growth
4 years ago

Covid caused temporary dip in NL population growth

NL Times  

The Dutch population will continue to grow in the next 50 years, despite a dip this year caused by the coronavirus pandemic, Statistics Netherlands reported on Wednesday. This year, the Dutch population growth is expected to amount to 63 thousand more people living in the Netherlands than the start of the year. The lower growth is completely due to the …

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