Economic growth 3.1 percent in first quarter

15/05/2008 15:00

The Dutch economy continues to perform well. In the first quarter of 2008, the volume of the gross domestic product (GDP) was 3.1 percent up on the same quarter in 2007. The first quarter had one working day fewer than the first quarter of 2007 though. After correction for calendar and seasonal effects, the volume of GDP was only 0.2 percent up on the fourth quarter of 2007.

At 5.8 percent, export growth remained vigorous in the first quarter. Imports of goods and services grew slightly more than exports, by 6.4 percent. Fixed capital formation increased by 5.9 percent compared with the first quarter of 2007. Households spent 2.2 percent more on goods and services. The growth rate of consumer spending on durable goods was the lowest for nearly three years. The volume of government consumption was 1.2 percent up on the same period one year previously.

Production increased across the board in the first quarter. Higher production by the mineral extraction sector, in particular, contributed to economic growth. The sectors building and construction, transport and wholesale also achieved far better output results. In manufacturing on the other hand production remained almost unchanged on the first quarter of 2007.

Disposable for final expenditure and final expenditure (volume)

Disposable for final expenditure and final expenditure (volume)