Since 1 January 2002 the currencies of the Economic and Monetary Union have been replaced by the euro. In terms of land area, the Netherlands is one of the smallest countries of the twelve. In terms of population size, however, it comes fifth, behind Germany, Italy, France and Spain. The same is true if we take the size of the Dutch economy. Per capita GDP is only higher in Luxembourg and Ireland, and the Netherlands has a remarkably low unemployment rate.
The Netherlands in the eurozone
The eurozone versus the US and Japan
As many as 304 million people live in the twelve EMU countries, five percent of the world population. This is more than in the US and Japan, with populations of 285 million and 127 million respectively. The area of the eurozone is only two percent of the whole world, and is the same size as about a quarter of the US. It is more than six times the area of Japan, though, which is by far the most densely populated of the three.
The three large economies account for nearly half of world production. The United States has the largest economy of the three. That of the twelve EMU countries is nearly twice the size of Japan’s.