Economy of the Netherlands

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Economy - overview: The Netherlands is a prosperous and open economy depending heavily on foreign trade. The economy is noted for stable industrial relations, moderate inflation, a sizable current account surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs no more than 4% of the labor force but provides large surpluses for the food-processing industry and for exports. The Dutch rank third worldwide in value of agricultural exports, behind the United States and France. The Dutch economy has expanded by 3% or more in each of the last four years and real GDP growth is likely to be about 3.6% in 2001. The government in 2001 will implement its most comprehensive tax reform since World War II, designed to reduce high income tax levels and redirect the fiscal burden onto consumption. The Dutch were among the first 11 EU countries establishing the euro currency zone on 1 January 1999.

GDP: purchasing power parity - $388.4 billion (2000 est.)
GDP - real growth rate: 3.4% (1999 est.), 4% (2000 est.)
GDP - per capita: purchasing power parity - $24,400 (2000 est.)
GDP - composition by sector:
agriculture:  3.3%
industry:  26.3%
services:  70.4% (2000 est.)
Household income or consumption by percentage share:
lowest 10%: 2.8%
highest 10%: 25.1% (1994)
Inflation rate (consumer prices): 2.2% (1999 est.), 2.6% (2000 est.)
Labor force: 7.2 million (2000)
Labor force - by occupation: services 73%, industry 23%, agriculture 4% (1998 est.)
Unemployment rate: 2.6% (2000 est.)
Budget:
revenues:  $134 billion
expenditures:  $134 billion, including capital expenditures of $NA (2001 est.)
Industries: agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing
Industrial production growth rate: 3% (1999), 3.2% (2000)
Electricity - production: 85.294 billion kWh (1999)
Electricity - production by source:
fossil fuel:  90.25%
hydro:  0.11%
nuclear:  4.27%
other:  5.37% (1999)
Electricity - consumption: 97.76 billion kWh (1999)
Electricity - exports: 3.97 billion kWh (1999)
Electricity - imports: 22.407 billion kWh (1999)
Agriculture - products: grains, potatoes, sugar beets, fruits, vegetables; livestock
Exports: $169 billion (f.o.b., 1998), $210.3 billion (f.o.b., 2000)
Exports - commodities: machinery and transport equipment, chemicals, fuels; foodstuffs, clothing
Exports - partners: EU 78% (Germany 26%, Belgium-Luxembourg 12%, France 12%, UK 11%, Italy 6%), Central and Eastern Europe, US (2000)
Imports: $152 billion (f.o.b., 1998), $201.2 billion (c.i.f., 2000 est.)
Imports - commodities: machinery and transport equipment, chemicals, fuels; foodstuffs, clothing
Imports - partners: EU 56% (Germany 18%, Belgium-Luxembourg 10%, UK 5%, France 6%), US 9%, Central and Eastern Europe (2000)
Debt - external: $0
Economic aid - donor: ODA, $3.5 billion (2000 est.)
Currency: euro (EUR)

SOURCE: The World Factbook

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