Economic growth 4.5 percent in fourth quarter

27/03/2008 09:30

Dutch economic growth was very substantial in the fourth quarter of 2007. The volume of the gross domestic product (GDP) was 4.5 percent up on the same quarter in 2006. This is the highest growth rate in more than seven years. In the third quarter of 2007 economic growth already exceeded 4 percent.

The fourth quarter of 2007 had one extra working day compared to the fourth quarter of 2006. After correction for calendar and seasonal effects, the volume of GDP was 1.2 percent up on the third quarter of 2007.

Household spending grew considerably to reach 3.3 percent. The volume of government consumption grew by 1.5 percent relative to the fourth quarter of 2006. with 6.8 percent, exports of goods and services rose sharply. The volume of imports grew by 4.1 percent, considerably less than in previous quarters. The growth rate of fixed capital formation was 2.7 percent compared to one year previously.

Production increased across the board in the fourth quarter, compared with twelve months previously. Among producers of goods, both mineral extraction and construction achieved far better output results. In the sector commercial services, production also improved substantially.

In 2007, economic growth was 3.5 percent, 0.5 percentage points up on 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)