The Netherlands' gross domestic product expanded 0.6 percent on quarter in the three months to December 2022, recovering from a 0.2 percent contraction in the previous period and easily beating market consensus of a 0.1 percent fall, a preliminary estimate showed. The Dutch economy was able to avoid a recession despite rising inflation and higher borrowing costs, helped by solid household consumption and a strong increase in exports. Private consumption increased 0.9 percent, as consumers spent more on services such as culture and recreation, catering and transport and communication. In addition, fixed investment was up 0.5 percent, mainly boosted by investment in housing, buildings and infrastructure. Net external demand has also contributed positively to the GDP as exports rose by 2.4 percent and imports were up by a softer 2.2 percent. source: Statistics Netherlands
GDP Growth Rate in Netherlands averaged 0.54 percent from 1988 until 2022, reaching an all time high of 6.30 percent in the third quarter of 2020 and a record low of -7.90 percent in the second quarter of 2020. 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 March of 2023.
GDP Growth Rate in Netherlands is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Netherlands GDP Growth Rate is projected to trend around 0.40 percent in 2024, according to our econometric models.