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 0.8 percent in Q1 2021 relative to Q4 2020. The growth rate has been adjusted downwards. In the first estimate, which was published on 18 May, contraction amounted to 0.5 percent. The overall picture of the economy has remained unchanged. GDP contraction in Q1 is mainly attributable to a decline in household consumption. However, higher investments and an increased trade balance cushioned the contraction. Read more

Is the number of bankruptcies higher than last year?

In the first 28 weeks of 2021, there were 1,025 bankruptcies among companies and institutions in the Netherlands. This is 1,010 fewer than in the same period in 2020. Read more

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

In week 28 (12 to 18 July inclusive) of 2021, 31 companies and institutions (including sole proprietorships) were declared bankrupt. This is 6 fewer than in week 27. Read more

How is consumer confidence developing?

In July, confidence among Dutch consumers has hardly changed, as reported today by Statistics Netherlands (CBS). The consumer confidence indicator stands at -4, down from -3 in June. Consumers’ sentiment about the general economic situation has slightly improved and consumers’ willingness to buy has deteriorated. Read more

How is Dutch goods trade developing?

In May 2021, the total volume of goods exports was up by 22.2 percent year-on-year. This is the second highest growth since the start of this statistic in 1995. The increase was mainly seen in exports of petroleum and chemical products, transport equipment, metal products and machinery. Compared to May 2019, exports were 7.9 percent higher. The volume of imports in May was up by 20.7 percent year-on-year and by 9.6 percent relative to May 2019. Read more

How are consumer prices developing?

The consumer price index (CPI) was 2.0 percent higher in June than in the same month last year. The inflation rate stood at 2.1 percent in May. This is partly due to the price development of tobacco. Tobacco products were 2.9 percent more expensive in June than in the same month last year, while in May this was still 8.3 percent. The effect of increased excise duties on cigarettes and rolling tobacco in the spring of 2020 was no longer reflected in inflation as of June. Read more

How is the demand for products and services of self-employed developing?

At the beginning of 2021, 51 percent of self-employed indicated that they faced less demand for their services or products as a result of the coronavirus crisis, according to the biannual Netherlands Survey of the Self-Employed (NSS) conducted by CBS and TNO. Demand declined in the service professions (e.g. hairdressers and beauticians) and creative and linguistic professions (e.g. artists and graphic designers). On the other hand, more than 10 percent of the self-employed indicated that there was an increased demand for their services and products. This is especially true in technical professions, such as construction workers and carpenters, and in commercial professions, such as shopkeepers in the retail trade.

How is retail turnover developing?

In May 2021, the Dutch retail sector recorded 9.7 percent year-on-year turnover growth. The volume of sales went up by 9.3 percent. Turnover in the non-food sector was up by 15.8 percent, while turnover in the food sector was down by 0.9 percent. Furthermore, online retail turnover increased by 16 percent. Relative to May 2019, the retail sector realised 19.2 percent more turnover in May 2021. Read more

How are manufacturing output prices developing?

Output prices of Dutch-manufactured products were on average 12.9 percent up in May 2021 year-on-year. In the previous month, prices were 12.2 percent up. Read more

How is producer confidence developing?

In June 2021, the mood among Dutch manufacturers improved again. Producer confidence stood at 11.5, up from 8.8 in May. This is the highest level since the survey started in 1985. The long-term average over the past two decades is 0.3. Producer confidence reached an all-time high (10.9) in February 2018 and an all-time low (-28.7) in April 2020. Read more

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

In April 2021, sales of petroleum products such as petrol, diesel and fuel oil as well as the consumption of kerosene rose by approximately 14 percent relative to April 2020. In the latter month, sales were the lowest in 2020. Diesel and petrol sales were up year-on-year, by 11 and 50 percent respectively. Kerosene sales were up by 86 percent year-on-year. Motor fuels; deliveries by petajoule, weight and volume

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

In June 2021, entrepreneurs in consumer-oriented industries were more optimistic about future turnover and the economic climate than in the previous month. They were more negative about staffing levels than in the previous month. After the announcement of drastic measures against coronavirus, the highest share of negatively-minded entrepreneurs since the start of the survey was measured in April 2020. StatLine

How is manufacturing output developing?

In May 2021, the average daily output generated by the Dutch manufacturing industry was 16.5 percent up on May 2020. Output was up by 13.1 percent in the previous month. In May, manufacturing output was at its highest level ever. Read more

How is turnover developing in the transport sector?

In Q1 2021, turnover in the transport sector fell by 4.1 percent relative to the same period last year. COVID-19 measures led to a decrease in turnover in the passenger transport sector. Mail and courier services saw the biggest turnover increase in Q1: 36 percent. Transport and storage; turnover change

How is turnover developing in wholesale?

In Q1 2021, the sector wholesale and commission trade generated over 3 percent more turnover than in the same period one year previously. This is the first turnover growth after three quarters of contraction. In wholesale trade in agriculture, wholesale trade in ICT equipment, wholesale trade in non-food products and wholesale trade in industrial machinery, turnover was higher Q1 2021. On the other hand, turnover realised by wholesale trade in petroleum and coal was lower (-13 percent). Wholesale trade; turnover change

How is turnover developing in accommodation and food services?

In Q1 2021, turnover in the accommodation and food services sector  by more than 3 percent relative to the previous quarter. The decline follows the almost 44 percent contraction in Q4 2020. Relative to Q1 2020, turnover decreased by 46.7 percent. There was no recovery for the sector in Q1 2021 due to the continued lockdown. Read more

How is turnover developing in business services?

In Q1 2021, turnover in the business services sector fell by 5.5 percent relative to the same quarter last year. The travel sector performed poorly in particular, with a 65.1 percent drop in turnover. It was the fourth quarter in a row with a drop in turnover for business services, although the decline became smaller in each quarter.

How is turnover developing in the automotive and motorcycle industry?

In Q1 2021, turnover in the automotive and motorcycle industry was 0.8 percent lower than in the same quarter last year. Relative to Q1 2019, the decline was larger: 2.8 percent. Not all subsectors experienced a decrease in turnover compared to the previous year. The strongest decrease in turnover was seen among importers of passenger cars.

How is turnover in the construction sector developing?

In Q1 2021, turnover in the construction sector increased by 2.2 percent relative to one year previously. Turnover declined in the first two months of 2021, partly due to the period of frost in February. In March, the construction sector recovered and turnover rose by nearly 7 percent.

How is the coronavirus crisis affecting payment behaviour?

Collaboration with the Betaalvereniging Nederland enables CBS to provide data on the development of a number of important payment flows for the Netherlands as a whole. This shows that during the coronavirus crisis there has been a further shift from offline to online payments. During periods when shops and restaurants were closed, the number of PIN withdrawals and payments decreased, while the number of online payments with iDEAL continued to rise.

How is the mood among entrepreneurs with respect to exports developing?

Manufacturers were less pessimistic about exports at the beginning of Q4 2020 than in the previous quarter. The export indicator stood at -6. In Q3, it stood at -10. Despite this improvement, there were still more producers who were pessimistic about exports than producers who were positive. Entrepreneurs in wholesale trade and in the services sector were also less pessimistic than in Q3.

What will happen to exports in the event of a second international lockdown?

Statistics Netherlands does not make a statement on this, but it did provide the Netherlands Bureau for Economic Policy Analysis (CPB) with figures enabling this institute to make three scenarios for each industry. These scenarios are related to the degree of coronavirus disruptions abroad. In CPB's three scenarios, the value added in the petroleum industry shrinks by 7 percent, 12 percent and 15 percent respectively, due to declining Dutch exports.

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

In most industries, more than half of the companies expected to exist for at least another year in September. Only in accommodation and food services, this was a minority of 43 percent of entrepreneurs. However, the improvement in terms of at least one year continuity was most significant in this industry. In June, only one-quarter of business service providers were positive about one year continuity; this had gone up to 43 percent in September. Confidence in survival was highest in the real estate activities industry, at 78 percent.

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 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 many overnight accommodations were closed in April?

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

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