The Netherlands' economy shrank by 0.2 percent on quarter in the three months to September 2022, following a downwardly revised 2.4 percent growth in the previous period and missing market expectations of a flat reading, a preliminary estimate showed. It was the first period of contraction since the aftermath of the pandemic outbreak in the second quarter of 2020, as investment declined by 1.7 percent, led by lower spending on housing and infrastructure. At the same time, government spending fell slightly, while household consumption edged up 0.1 percent as demand was hit by rising inflation and higher borrowing costs. Net external demand has also contributed negatively to the GDP, as exports rose 0.9 percent and imports advanced at a faster 1.0 percent. By industry, financial services, the trade, transport and hospitality industry and construction shrank in Q3, while business services expanded. On a yearly basis, the economy grew by 3.1 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 November of 2022.
GDP Growth Rate in Netherlands is expected to be -0.30 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 0.30 percent in 2023 and 0.40 percent in 2024, according to our econometric models.