How big is the Dutch economy?
The size of the Dutch economy is measured in terms of its gross domestic product (GDP), which surpassed 1 trillion euros in 2023. GDP is the sum of all the goods and services produced in a country in one year. The Dutch economy is about four times larger than the Portuguese economy, for example, and almost twice the size of the Belgian economy. Meanwhile, the German economy is about four times the size of the Dutch economy.
The Netherlands’ gross domestic product (GDP) in 2023 was 1,068 billion euros, not adjusted for price changes.noot1 The Dutch economy surpassed 1 trillion euros for the first time last year. Dutch GDP has grown relatively strongly in recent years, partly due to the economic recovery following the Covid-19 pandemic, but also due to higher inflation.
In 1995, Dutch GDP was 330 billion euros. By 2002, it had reached 500 billion euros. Since 1995, the only years in which the Netherlands’ GDP had contracted were 2009 and 2020. Those were, respectively, the years in which the world financial crisis and the COVID-19 crisis struck.
| Year | Gross domestic product (GDP) |
|---|---|
| 1995 | 330 |
| 1996 | 345 |
| 1997 | 370 |
| 1998 | 395 |
| 1999 | 420 |
| 2000 | 452 |
| 2001 | 483 |
| 2002 | 503 |
| 2003 | 515 |
| 2004 | 532 |
| 2005 | 553 |
| 2006 | 587 |
| 2007 | 623 |
| 2008 | 651 |
| 2009 | 630 |
| 2010 | 643 |
| 2011 | 656 |
| 2012 | 658 |
| 2013 | 666 |
| 2014 | 679 |
| 2015 | 699 |
| 2016 | 720 |
| 2017 | 751 |
| 2018 | 787 |
| 2019 | 830 |
| 2020 | 816 |
| 2021 | 892 |
| 2022 | 994 |
| 2023* | 1068 |
| * provisional figures | |
Netherlands is now the fifth-largest economy in the EU
The Dutch economy is now the fifth-largest in the European Union. Germany is the EU’s largest economy with a GDP of over 4 trillion euros. France and Italy have the next largest economies.
The United States has the largest economy in the world, followed by China. The Netherlands ranks 18th in the world, in terms of its economic output.
| Land | Gross domestic product |
|---|---|
| Germany | 4122 |
| France | 2803 |
| Italy | 2085 |
| Spain | 1462 |
| Netherlands | 1068 |
| Poland | 751 |
| Belgium | 585 |
| Sweden | 541 |
| Ireland | 505 |
| Austria | 478 |
| Denmark | 374 |
| Romania | 325 |
| Czechia | 306 |
| Finland | 275 |
| Portugal | 266 |
| Greece | 220 |
| Hungary | 196 |
| Slovakia | 123 |
| Bulgaria | 94 |
| Luxembourg | 79 |
| Croatia | 76 |
| Lithuania | 72 |
| Slovenia | 63 |
| Latvia | 40 |
| Estonia | 38 |
| Cyprus | 30 |
| Malta | 19 |
Notes
Economy
In this article, the economy is shown based on actual prices, so without adjustment for price changes. This is a measure of the size of the economy and is used, for example, to express government debt as a percentage of GDP. When discussing economic growth, on the other hand, the size of the economy is adjusted for price changes in order to look at changes in the size of GDP: economic growth.