The Economy of the Netherlands

Netherlands Economysector.
With a prosperous and open economy, theThe Gross National Income in US $ in 2004 has
Netherlands depends mostly on foreign trade. Thereached at 523.1 billions having a per capita of
economy also enjoys stable industrial relations, low32,130.0 in US $.
unemployment and inflation rate, the countryNetherlands Economy comes under the
being an important European transportation hub.high-income made by OECD group countries as to
Industrial activity predominates in food processing,the classification made by the World Bank, based
chemicals, petroleum refining, and electricalon the income and region for the year 2006. The
machinery.county has a total surface area of 41,530.0
square kilometers, with a total forest area of
As of January 1, the Netherlands, along with 11 of3,600 square kilometers in 2000.
its EU partners, changed to euro currency, andThe country’s major agricultural products are
the country is one of the top European nations tofruits, vegetables, grains, sugar and livestock,
attract foreign investment.while the important industries in the country are
The Netherlands is currently the 16th largestchemicals, construction, petroleum, chemicals,
economy of the world, with the annual economicfishing, and construction. The country exports
growth (GDP), between 1998 and 2000, at nearlyfood, fuel, manufacturing, machines and
4%, high above the European average and inequipments, to France, Germany, Italy, UK, AND
2007, the yearly growth accelerated to 4.2%.Spain, and it imports items such as chemical, fuel,
Netherlands inflation is estimated at 1.3% whileand clothing, from the US, China, Germany and
unemployment in the Netherlands is estimated asBelgium.
the lowest of all EU members, at only 2.9%. TheAs far as trade is concerned, the Netherlands has
stern financial policies have made possible a deficitexperienced balance of trade as well as balance
of roughly 0.3% of GDP in 2005, down fromof payment surplus over the past few years.
2.1%, registered a year before. NetherlandsNetherlands is part of the founding member of
services sector plays an important part in thethe International Bank For Reconstruction and
country’s economy, and account for 75% ofDevelopment and an important member of IDA
the total GDP, being followed by the industriesand IFC.