Economic impact of COVID-19

How is the Dutch economy developing?

According to the second estimate conducted by Statistics Netherlands (CBS), gross domestic product (GDP) declined by 1.5 percent in Q1 2020 relative to Q4 2019. The growth rate has been adjusted upwards. In the first estimate, which was published on 15 May, contraction was 1.7 percent. GDP contraction in Q1 is mainly attributable to a decline in household consumption. Read more

By how much did manufacturing output decline?

In May 2020, the average daily output generated by the Dutch manufacturing industry was 12.5 percent down on May 2019. Output showed the largest year-on-year decrease since mid-2009. The transport equipment industry recorded the strongest output contraction. However, the decline was somewhat smaller than in April, when virtually all factories were still closed. In May, a number of large factories re-opened partially. Read more

Is the number of bankruptcies higher than last year?

In the first 28 weeks of 2020, there were altogether 2,033 bankruptcies among companies and institutions in the Netherlands. This is 4 fewer than in the same period in 2019. Read more

How many entrepreneurs expect they will not survive the COVID-19 crisis?

The number of entrepreneurs in virtually all non-financial industries who estimate their business will continue to exist for at least another 12 months in the current economic situation increased significantly in June compared to May. The improvement in terms of at least one year continuity which was seen in June as compared to May was most significant in business services. In May, 41 percent of business service providers were positive about one year continuity; this had gone up to 57 percent in June. The sharpest increase within business services was seen in the travel industry (+41 percentage points). Read more

How are consumer prices developing?

The consumer price index (CPI) was 1.6 percent higher in June than in the same month last year. In May, prices of consumer goods and services were still up by 1.2 percent year-on-year. Just as in May, prices of motor fuels were significantly lower in June than in the same month last year. In June, motor fuels were 7.9 percent cheaper than one year previously, against a year-on-year decline of 14.1 percent in May. Read more

How is consumer confidence developing?

Confidence among Dutch consumers recovered slightly in June. The consumer confidence indicator stood at -26, up from -31 in May. Consumers’ willingness to buy was less negative. Opinions on the economic climate remained the same. Read more

How many companies have been declared bankrupt over the past few weeks?

In week 26 (22 to 28 June inclusive), 30 companies and institutions (excluding sole proprietorships) and 1 sole proprietorship was declared bankrupt. Read more

How much decline has been recorded in manufacturing output prices?

Output prices of Dutch-manufactured products were on average 8.0 percent down in May 2020 year-on-year. In the previous month, prices were 8.1 percent down. In May, prices of petroleum derivatives decreased by 49.4 percent year-on-year. Prices were down by 57.8 percent in April. Read more

How is retail turnover developing?

The Dutch retail sector recorded 8.2 percent year-on-year turnover growth in May 2020. This is the highest growth rate in the span of 14 years. The volume of sales increased by 5.9 percent. Turnover was up in both the food sector and the non-food sector. Furthermore, online sales increased by almost 50 percent. Read more

How many businesses have been granted deferral of payment by the Tax and Customs Administration?

From 1 April to 12 June, due to the coronavirus crisis, the Tax and Customs Administration granted 128 thousand businesses three months' deferral of payment regarding income tax, health insurance law, corporation tax, wage tax and turnover tax (VAT). Nearly 21 thousand of the 66 thousand businesses with 10 to 250 employed persons applied for and were granted a deferral. Of businesses with 2 to 10 employed persons, 12 percent applied for and were granted a deferral; of businesses with 1 employed person, less than 5 percent.

How is the mood among entrepreneurs in consumer-oriented industries developing?

In June, for the second month in a row, fewer entrepreneurs in consumer-oriented industries were pessimistic about future turnover, staffing levels and the economic climate than in the previous month. After the announcement of drastic measures to combat coronavirus, the highest percentage on balance of negative-minded entrepreneurs since the start of the survey was measured in April.

How is producer confidence developing?

On account of the COVID-19 crisis, in April 2020 producer confidence plummeted to its lowest level (-28.7) since the start of the producer confidence survey in 1985. Confidence among Dutch manufacturers recovered slightly in May and it was again less unfavourable in June. Producer confidence stood at -15.1 in June, up from -25.1 in May. This is mainly due to notably improved expectations on future output. Read more

How is household consumption developing?

In April 2020, consumers spent 17.4 percent less than in April 2019. This is by far the largest contraction in domestic household consumption which has ever been recorded by CBS. Consumers mainly spent less on services, durable goods and motor fuels; on the other hand, they spent more on food, beverages and tobacco. Read more

How is Dutch goods trade developing?

In April 2020, the total volume of goods exports shrank by 11.2 percent year-on-year. This is the biggest contraction in exports since July 2009. In April, exports of transport equipment and machinery decreased in particular. The volume of imports was 8 percent lower year-on-year. This is the biggest contraction since November 2009. In April, imports of transport equipment, machinery and clothing declined in particular. Read more

How is turnover developing in accommodation and food services?

In Q1 2020, turnover in this sector fell by 14 percent relative to the preceding quarter. This was the first turnover decrease in seven years. The volume of sales (turnover adjusted for price developments) decreased by 14.5 percent. The declines in turnover and volume of sales were particularly sharp in March. Read more

How is turnover developing in the transport sector?

In Q1 2020, turnover in the transport sector dropped by 1.5 percent relative to the same period last year. Turnover mainly declined in aviation and aviation services, due to the coronavirus pandemic.

How is turnover developing in the automotive and motorcycle industry?

In Q1 2020, turnover in the automotive and motorcycle industry was 1.8 percent lower than in the same quarter last year. At the beginning of the second quarter, in April, importers of cars and motorcycles recorded a 62-percent turnover loss.

How is turnover developing in wholesale?

In Q1 2020, the sector wholesale and commission trade generated 2.2 percent more turnover than in the same period one year previously. Within wholesale trade, food traders realised the largest turnover growth in the first quarter. This industry generated nearly 6 percent more turnover than in the same period twelve months previously.

How is turnover developing in business services?

In Q1 2020, turnover generated by business services was 2 percent higher year-on-year. Many industries realised even higher turnover in the first quarter, despite the measures to combat coronavirus that took effect in March. However, the travel industry has already been hit hard and turnover declined by more than 19 percent.

How much did the export value of horticultural products decline?

In March 2020, the export value of horticultural products such as flowers, plants, bulbs and nursery products declined by 22 percent year-on-year. Exports of cut flowers dropped by 26 percent. The largest decline was seen in horticultural exports to Italy: 61 percent. Read more

How large is the agricultural sector?

According to the Dutch Standard Industrial Classification 2008 (SBI 2008), the agricultural sector in the Netherlands comprised 73,465 holdings in Q1 2020. According to the Agricultural Census statistic, the number stood at 53,233 (2019). SBI 2008 and the Agricultural Census apply different definitions of the agricultural sector, which leads to a discrepancy in number of enterprises.

How much decline has been recorded in the consumption of petrol, diesel and kerosene?

In March 2020, sales of petroleum products such as petrol, diesel and fuel oil as well as the consumption of kerosene were 13 percent down on January 2020. The year-on-year decline amounted to 12 percent. The drop in petrol sales over March – by over 20 percent – is the sharpest drop since January. Read more

How many overnight accommodations are currently closed?

Due to the COVID-19 measures, approximately one-third of available beds in overnight accommodations are currently closed. The policy with regard to the closure of overnight accommodations is determined per safety region.

What is the size of the financial buffer for most self-employed entrepreneurs?

In 2019, 20 percent of Dutch self-employed entrepreneurs said they would be able to make ends meet for an estimated three months in the absence of revenues from their own company. Nearly 40 percent said they could probably survive for 12 months or more. Self-employed active in transportation and logistics were most likely to indicate a maximum length of time of 3 months without company revenue (30 percent).

How much increase is seen in the retail turnover of supermarkets?

In the second and third weeks of March, Dutch supermarkets achieved higher turnover than in the same weeks last year. Turnover at supermarkets declined in the third week of March compared to the previous week, but was still 25 percent higher than in the same week in 2019. The sharpest increase was seen in turnover of shelf-stable products, including canned goods, frozen vegetables, flour, rice and pasta, along with hand soap, toilet paper and pharmaceutical products.

How much increase is seen in the turnover of DIY retailers?

DIY chains recorded over 50 percent more turnover during the third week of March relative to one year previously. Turnover was nearly 6 percent higher than the week of Ascension Day last year, which is traditionally the week with the highest turnover.

How many beauty salons and hairdresser salons are there in the Netherlands?

There are a total of 27,675 hairdressers and 36,585 salons performing beauty and cosmetic treatments, pedicures and manicures.

How large is the sector accommodation and food services?

In Q1 2020, the sector accommodation and food services comprised 61,775 businesses. The majority (61,715 businesses) were small and medium-sized enterprises (mkb). 52,295 businesses in accommodation and food services included food and beverage services. In 2017, net sales in the Dutch accommodation and food sector amounted to 26,213 million euros.

How many sports organisations and companies are there?

In 2018, there were 26,510 sports clubs, 1,145 water sports clubs, 1,090 riding schools and 1,250 gyms in the Netherlands. In addition, there were 1,570 fitness companies with a total of 2,015 establishments in 2017. This includes all sports organisations, whether for profit or not.

How is trade with China developing?

In March 2020, goods imports from China and Hong Kong showed a year-on-year decline of 9 percent. The imports already fell by 10 percent over the previous month. Over the months of February and March this year, imports from China and Hong Kong dropped by altogether 700 million euros relative to February-March 2019. Read more

How much is imported into the Netherlands from Italy?

Dutch imports from Italy amount to 11.9 billion euros. This was 2.6 percent of total goods imports in 2019. Read more