Economic impact of COVID-19

How is the Dutch economy developing?

According to the first estimate conducted by Statistics Netherlands (CBS), Dutch gross domestic product (GDP) decreased by 0.1 percent in Q4 2020 relative to the previous quarter. This decline follows the largest economic contraction and growth ever measured by CBS. In Q2 2020, GDP contracted by 8.5 percent, after which it partially recovered in Q3 2020 with 7.8 percent growth. The 0.1-percent decline in Q4 was mainly caused by decreased household consumption. Increased investments cushioned the economic contraction. Read more

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

In December 2020, sales of petroleum products such as petrol, diesel and fuel oil as well as the consumption of kerosene rose by nearly 11 percent relative to April. In the latter month, sales were the lowest in 2020. In December 2020, total sales of motor fuels were 11.5 percent down on December 2019. Diesel and petrol sales were down year-on-year, by 9 and 18 percent respectively. Kerosene sales were down by 41 percent year-on-year. Motor fuels; deliveries by petajoule, weight and volume

Is the number of bankruptcies higher than last year?

In the first 8 weeks of 2021, there were 298 bankruptcies among companies and institutions in the Netherlands. This is 278 fewer than in the same period in 2020. Read more

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

In week 8 (22 to 28 February inclusive), 28 companies and institutions (including sole proprietorships) were declared bankrupt. This is 6 fewer than in week 7. Read more

How are consumer prices developing?

The consumer price index (CPI) was 1.8 percent higher in February than in the same month last year. The inflation rate still stood at 1.6 percent in January 2021. The increase in inflation is mainly due to the price development of motor fuels. In February, fuel prices were 0.7 percent higher than one year previously, while motor fuels were 5.4 percent cheaper in January year-on-year. Consumers paid an average of 1.676 euros per litre for petrol and 1.354 euros for diesel in February. In January, this was 1.615 euros and 1.289 euros per litre respectively. The price developments of clothing and energy also had an upward effect on inflation. Read more

How is turnover developing in the transport sector?

In Q4 2020, turnover in the transport sector fell by more than 8 percent relative to the same period last year. In many sectors, turnover was dominated by measures against coronavirus. Turnover fell in aviation in particular (57 percent). The highest increase in turnover was seen in postal and courier services: more than 23 percent. Transport and storage; turnover change

How is turnover developing in wholesale?

In Q4 2020, the sector wholesale and commission trade generated 3.2 percent less turnover than in the same period one year previously. In Q3, this was nearly 3 percent. Within this sector, turnover realised by oil traders was over 42 percent lower. Wholesale trade in agricultural products realised the largest turnover growth (23 percent). Wholesale trade; turnover change

How is turnover developing in accommodation and food services?

In Q4 2020, turnover in the accommodation and food services sector fell by nearly 44 percent relative to the previous quarter. This was mainly due to the tightening of the measures against the spread of coronavirus. In Q3, the sector still experienced a strong recovery as measures were relaxed. With Q4, the annual figure for 2020 has also become available: last year, the accommodation and food services sector contracted by 33.9 percent relative to 2019. Read more

How is turnover developing in business services?

In Q4 2020, turnover in the business services sector fell by 8.4 percent relative to the same quarter one year previously. The travel sector performed poorly in particular, with a 76.6 percent drop in turnover. Turnover of business services was 10.0 percent lower in the entire year of 2020.

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

In February, entrepreneurs in most consumer-oriented industries were less pessimistic about future turnover, staffing levels and the economic climate than in the previous month. For the first time since March 2020, entrepreneurs in the services sector were slightly optimistic about staffing levels. On average, entrepreneurs were most pessimistic about the economic climate. 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. Netherlands Business Survey

How much decline has been recorded in manufacturing output prices?

Output prices of Dutch-manufactured products were on average 2.2 percent down in January 2021 year-on-year. In the previous month, prices were 4.1 percent down. Read more

How is retail turnover developing?

In January 2021, the Dutch retail sector recorded 5.9 percent year-on-year turnover decline. The volume of sales went down by 8 percent. However, due to the measures against the spread of coronavirus, there are great divergences within the sector. Turnover in the food sector rose by 8.6 percent, while turnover in the non-food sector shrank by 37.7 percent. In addition, online turnover increased by more than 92 percent in January. Read more

How is turnover developing in the automotive and motorcycle industry?

In Q4 2020, turnover in the automotive and motorcycle industry was virtually the same as in the same quarter one year previously. In the entire year of 2020, turnover decreased by 6.9 percent relative to 2019. All subsectors experienced a decline in turnover except for motorcycle trade and repairs, where turnover increased by 2.8 percent in 2020 relative to the previous year.

How is producer confidence developing?

In February 2021, the mood among Dutch manufacturers deteriorated slightly. Producer confidence stood at 0.1, down from 0.6 in January. Manufacturers were less positive about their future output and their stocks of finished products. 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 has slightly picked up again since May. Read more

How is consumer confidence developing?

In February, confidence among Dutch consumers did not change compared to the previous month. The consumer confidence indicator stood at -19, equal to January.
At -19, the consumer confidence indicator in January stands far below its long-term average over the past two decades (-7). Read more

How is turnover in the construction sector developing?

In December 2020, turnover in the construction sector was 2.3 percent up on one year previously. This means that turnover is slightly higher for the fourth month in a row. In August, turnover in this sector still fell by 0.7 percent.

How is Dutch goods trade developing?

In December 2020, the total volume of goods exports was down by 0.9 percent year-on-year. In the previous three months, exports were still up on one year previously. In December, exports of minerals, petroleum products, machinery and appliances decreased in particular. The volume of imports was 1.0 percent lower year-on-year. Read more

By how much did manufacturing output decline?

In December 2020, the average daily output generated by the Dutch manufacturing industry was 0.2 percent down on December 2019. This is the smallest contraction after January 2020, when output was 1.4 percent higher than one year previously. Read more

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