The Netherlands' economy shrank 1.7 percent on quarter in the first three months of 2020, the steepest period of contraction since the first quarter of 2009 and compared to market expectations of a 3 percent slump, a preliminary estimate showed, as the coronavirus pandemic hit demand and activity. Household consumption tumbled 2.7 percent, the biggest decline since the start of the series in 1987, and fixed investment fell 1.1 percent. In addition, government spending dropped 1.4 percent, and both exports and imports were sharply down. On the production side, the sharpest contractions were seen in the culture, recreation, sports & other services, the trade, transport, catering & storage, and the government, education & health care sectors.
GDP Growth Rate in Netherlands averaged 0.52 percent from 1988 until 2020, reaching an all time high of 1.70 percent in the first quarter of 1999 and a record low of -3.60 percent in the first quarter of 2009. This page provides - Netherlands GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Netherlands GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Statistics Netherlands
GDP Growth Rate in Netherlands is expected to be -10.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Netherlands to stand at 2.20 in 12 months time. In the long-term, the Netherlands GDP Growth Rate is projected to trend around 0.60 percent in 2021 and 0.50 percent in 2022, according to our econometric models.