Dutch economy continues recovery

15/02/2011 09:30

The Dutch economy grew by 2.4 percent in the fourth quarter compared to the same period in 2009, versus 1.8 percent in the third quarter compared to last year’s third quarter. If the working-day pattern and the effects of seasonal variation are taken into account, the gross domestic product (GDP) grew by 0.6 percent in the fourth quarter compared with the third quarter.

In the fourth quarter, exports were 11.3 percent higher than one year previously. Imports were up 10.7 percent. Household consumption picked up again: the volume was 1.5 percent up on one year previously. Government consumption increased by 1.2 percent, slightly less than in previous quarters. For the first time in two years, total fixed capital formation grew again slightly, by 0.5 percent.

Producers of goods generated 3.1 percent more output than one year previously. The manufacturing industry performed particularly well. Output in the construction sector was still lower than in the same period twelve months previously, but by less than in previous quarters.

In the whole year 2010, the Dutch economy grew by 1.7 percent, partly compensating the 3.9 percent contraction in 2009. The article “Exports boost economy in 2010” focuses on the economic recovery in 2010, and on developments in the conditions for exports, household consumption and investment as shown by Statistics Netherlands’ economic radars.

Disposable for final expenditure and final expenditure (volume)

Disposable for final expenditure and final expenditure (volume)

More figures can be found in the Business cycle dossier.