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Netherlands Economy 1996

Overview:

This highly developed and affluent economy is based on private enterprise. The government makes its presence felt, however, through many regulations, permit requirements, and welfare programs affecting most aspects of economic activity. The trade and financial services sector contributes over 50% of GDP. Industrial activity provides about 25% of GDP and is led by the food-processing, oil-refining, and metalworking industries. The highly mechanized agricultural sector employs only 4% of the labor force, but provides large surpluses for export and the domestic food-processing industry. Indeed the Netherlands ranks third worldwide in value of agricultural exports, behind the US and France. High unemployment and a sizable budget deficit are currently the most serious economic problems. Many of the economic issues of the 1990s will reflect the course of European economic integration.

National product:

GDP - purchasing power parity - $275.8 billion (1994 est.)

National product real growth rate:

2% (1994 est.)

National product per capita:

$17,940 (1994 est.)

Inflation rate (consumer prices):

2.5% (December 1994)

Unemployment rate:

8.8% (December 1994)

Budget:

revenues:

$109.9 billion

expenditures:

$122.1 billion, including capital expenditures of $NA (1992 est.)

Exports:

$153 billion (f.o.b., 1994 est.)

commodities:

metal products, chemicals, processed food and tobacco, agricultural products

partners:

EC 77% (Germany 27%, Belgium-Luxembourg 15%, UK 10%), Central and Eastern Europe 10%, US 4% (1991)

Imports:

$137 billion (f.o.b., 1994 est.)

commodities:

raw materials and semifinished products, consumer goods, transportation equipment, crude oil, food products

partners:

EC 64% (Germany 26%, Belgium-Luxembourg 14%, UK 8%), US 8% (1991)

External debt:

Industrial production:

growth rate -1.5% (1993 est.); accounts for 25% of GDP

Electricity:

capacity:

17,520,000 kW

production:

72.4 billion kWh

consumption per capita:

5,100 kWh (1993)

Industries:

agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, fishing, construction, microelectronics

Agriculture:

accounts for 4.6% of GDP; animal production predominates; crops - grains, potatoes, sugar beets, fruits, vegetables; shortages of grain, fats, and oils

Illicit drugs:

important gateway for cocaine, heroin, and hashish entering Europe; European producer of illicit amphetamines and other synthetic drugs

Economic aid:

donor:

ODA and OOF commitments (1970-89), $19.4 billion

Currency:

1 Netherlands guilder, gulden, or florin (f.) = 100 cents

Exchange rates:

Netherlands guilders, gulden, or florins (f.) per US$1 - 1.7178 (January 1995), 1.8200 (1994), 1.8573 (1993), 1.7585 (1992), 1.8697 (1991), 1.8209 (1990)

Fiscal year:

calendar year

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