Economy
Figures - Macroeconomic Trends
The Dutch economy grew by 2.9 percent in 2017, a level that is considerably more robust than in 2016 when economic growth stood at 2.2 percent. It also represents the highest level of growth since the crisis. Growth in 2017 is wide ranging. More has been invested, exported and consumed than in 2016. It was foreign trade, however, that remained the driving force behind the Dutch economy in 2017.
Economic growth in the Netherlands was reported in almost all regions. Economic shrinkage was only apparent in Groningen due to the decline in natural gas production. The economies of Friesland and Drenthe were also inhibited by developments in the natural gas sector. The strongest growth took place in Southeast North Brabant and Flevoland (especially in the city of Almere). Southeast North Brabant (Eindhoven and the surrounding area) thanked its growth to industry and business services. In Almere the economy picked up due to strong economic growth among lease companies.
For the first time since 2008, Dutch government finances are back in line with European standards. At the end of 2017, the national debt amounted to 421 billion euros or 57.1 percent of gross domestic product (GDP). In 2016, this figure was 62 percent. European regulations state that the debt of countries in the euro zone must be below 60 percent of GDP.
The balance of government revenue and expenditure was exceptionally high, at 9 billion euros. This represents 1.2 percent of GDP. The Netherlands has kept to the European deficit limit of 3 percent since 2013.
Consumer confidence slipped a notch in May 2018 (down 3), but is still well above the average over the past twenty years. For the past year consumer confidence has been fluctuating between 23 and 26. Producer confidence was also up in May 2018, after sliding in March and April. Producer confidence remains well above the average of the past twenty years (0.8). In May 2018 producers were more positive about expected activity than in the previous month.