Economic impact of COVID-19

How is the Dutch economy developing?

After the unprecedented decline of 8.5 percent in Q2 2020, gross domestic product (GDP) increased by 7.7 percent in Q3 2020 relative to the previous quarter, according to the first estimate conducted by Statistics Netherlands (CBS). More than half of this growth, the largest ever, can be attributed to the sharp increase in household consumption. Public consumption, the trade balance and investments also increased. However, growth in the third quarter did not outweigh the decline in the first two quarters. Compared to Q4 2019, the Dutch economy contracted by 3 percent in the first three quarters of 2020, on balance. Read more

How is consumer confidence developing?

In December, confidence among Dutch consumers has improved. The consumer confidence indicator stands at -20, up from -26 in November. Consumer confidence reached its highest level after March 2020, when the first lockdown was introduced. Consumers are less pessimistic about the economic situation in particular. Read more

Is the number of bankruptcies higher than last year?

In the first 50 weeks of 2020, there were altogether 3,101 bankruptcies among companies and institutions (including sole proprietorships) in the Netherlands. This is 534 fewer than in the same period in 2019. Read more

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

In week 50 (7 to 13 December inclusive), 33 companies and institutions (excluding sole proprietorships) and 8 sole proprietorship were declared bankrupt. Read more

How is turnover in the construction sector developing?

In October 2020, turnover in the construction sector was 0.9 percent up on one year previously. This means that turnover is slightly higher for the second month in a row. In August, turnover in this sector still fell by 0.7 percent. Read more

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.

How is Dutch goods trade developing?

In October 2020, the total volume of goods exports was up by 4.1 percent year-on-year. This is the largest growth so far this year. In January and February, goods exports were still higher than one year previously, but in April they fell by 13.3 percent. Read more

By how much did manufacturing output decline?

In October 2020, the average daily output generated by the Dutch manufacturing industry was 3.7 percent down on October 2019. This is the smallest contraction after May 2020, when output was more than 12 percent lower than one year previously. Read more

How is turnover developing in the transport sector?

In Q3 2020, turnover in the transport sector fell by more than 15 percent relative to the same period last year. In many sectors, turnover was dominated by measures against coronavirus. Turnover fell in aviation in particular (63 percent). Postal and courier services were the only sector within transport where turnover rose by almost 11 percent in Q3. Turnover from internet sales even increased by 39 percent.

How are consumer prices developing?

The consumer price index (CPI) was 0.8 percent higher in November than in the same month last year. In October, prices of consumer goods and services were up by 1.2 percent year-on-year. Price developments of clothing and petrol had a downward effect on inflation. In November, clothes were 0.6 percent cheaper than one year previously, while in October prices were 3.2 percent higher year-on-year. Petrol prices were 8 percent lower in November year-on-year and in October the price decrease was 5.2 percent. Read more

How is turnover developing in wholesale?

In Q3 2020, the sector wholesale and commission trade generated nearly 3 percent less turnover than in the same period one year previously. In Q2, turnover was still 9 percent lower than one year previously. Turnover realised by oil traders was over 38 percent down. Wholesale trade in agricultural products achieved the highest turnover increase (10.9 percent).

How much decline has been recorded in manufacturing output prices?

Output prices of Dutch-manufactured products were on average 4.7 percent down in October 2020 year-on-year. In the previous month, prices were 5.2 percent down. Read more

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

In November, for the fourth month in a row, entrepreneurs in most consumer-oriented industries were more pessimistic about future turnover, staffing levels and the economic climate than in the previous month. Entrepreneurs in all sectors were pessimistic about expected turnover. 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. Read more

How is turnover developing in accommodation and food services?

In Q3 2020, turnover in the accommodation and food services sector rose by an unprecedented 103.6 percent compared to the previous quarter. As a result of the relaxation of the measures against the spread of coronavirus, turnover was virtually at the same level as in Q1 2020. Despite the strong recovery, it was still 12.2 percent lower than in the same quarter last year. Accommodation and food services therefore remains one of the sectors most severely affected by the coronavirus crisis. The volume of sales (turnover adjusted for price developments) increased by 103.2 percent relative to the previous quarter. Read more

How is retail turnover developing?

In October 2020 the Dutch retail sector recorded 7.1 percent year-on-year turnover growth. The volume of sales rose by 4.7 percent. Turnover was up in both the food sector and the non-food sector. Furthermore, online sales increased by 48.1 percent. Read more

How is turnover developing in business services?

In Q3 2020, turnover in the business services sector fell by 14.1 percent relative to the same quarter last year. Compared to the previous quarter, when turnover fell by 18.5 percent, the market was able to recover slightly. With a 60.4-percent drop in turnover, the travel sector in particular is limiting the recovery.

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

In September 2020, sales of petroleum products such as petrol, diesel and fuel oil as well as the consumption of kerosene rose by over 22 percent relative to April. In the latter month, sales were the lowest so far this year. In September 2020, total sales of motor fuels were similar to September 2019. Diesel and petrol sales were down year-on-year, by 4 and 3 percent respectively. Kerosene sales were down by 45 percent year-on-year. Motor fuels; deliveries by petajoule, weight and volume

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 manufacturers were less negative for the fifth consecutive month in September. In October, producer confidence was more negative than in the previous month and in November it was less negative. The producer confidence indicator went from -5.6 in October to -3.8 in November. Manufacturers were mainly less negative about their order position. Read more

How is turnover developing in the automotive and motorcycle industry?

In Q3 2020, turnover in the automotive and motorcycle industry was 0.3 percent higher than in the same quarter last year. This recovery follows the contraction of more than 25 percent in Q2. The motorcycle trade and repairs industry and the heavy commercial vehicle industry showed the best results. In Q3, turnover in these industries was up by 14 percent and nearly 3 percent respectively relative to the same quarter last year.

How is household consumption developing?

Consumers spent 6.5 percent less in October 2020 than in the same month last year. The decline is again somewhat larger than in September. Just as in the previous months, consumers spent mainly less on services. Read more

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 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. These data also show that since mid-May expenditure via PIN, iDEAL and credit card, after a temporary decline during the lockdown, have been higher on balance than just before.

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