Economic growth 4.4 percent in fourth quarter

14/02/2008 15:00

Dutch economic growth was very substantial in the fourth quarter of 2007. The volume of gross domestic product (GDP) was 4.4 percent up on the same quarter in 2006. This is the highest growth rate for well over seven years. In the third quarter of 2007 economic growth also exceeded 4 percent.

The fourth quarter of 2007 had one working day more than the fourth quarter of 2006. After correction for calendar and seasonal effects, GDP volume was 1.2 percent up on the third quarter of 2007. This quarter-on-quarter growth is the second highest in nearly four years.

Household spending has been gaining strength, and was 3.2 percent higher than twelve months previously. Government consumption grew by 2.3 percent compared with the fourth quarter of 2006. At 7.0 percent, exports of goods and services rose sharply. The volume of imports grew by 4.2 percent, considerably less than in preceding quarters. The growth rate of fixed capital formation was also lower: investments grew by 2.1 percent.

Production increased across the board in the fourth quarter, compared with twelve months previously. Among goods producers, both production of natural gas and construction industry were clearly up on the same quarter one year previously. In commercial services production growth also increased substantially.

In 2007 economic growth was 3.5 percent, 0.5 of a percent point more than in 2006. The growth rate has not been this high since 2000.

Disposable for final expenditure and final expenditure (volume)

Disposable for final expenditure and final expenditure (volume)