consulate(s) general: Amsterdam
Flag description: three equal horizontal bands of red (top), white, and blue; similar to the flag of Luxembourg, which uses a lighter blue and is longer
Netherlands Economy
Economy - overview: The Netherlands is a prosperous and open economy depending heavily on foreign trade. The economy is noted for stable industrial relations, moderate inflation, a sizable current account surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs no more than 4% of the labor force but provides large surpluses for the food-processing industry and for exports. The Dutch rank third worldwide in value of agricultural exports, behind the US and France. The Dutch economy has expanded by 3% or more in each of the last four years and real GDP growth is likely to be about 3.6% in 2001. The government in 2001 will implement its most comprehensive tax reform since World War II, designed to reduce high income tax levels and redirect the fiscal burden onto consumption. The Dutch were among the first 11 EU countries establishing the euro currency zone on 1 January 1999.
GDP: purchasing power parity - $388.4 billion (2000 est.)
GDP - real growth rate: 4% (2000 est.)
GDP - per capita: purchasing power parity - $24,400 (2000 est.)
GDP - composition by sector: agriculture: 3.3%
industry: 26.3%
services: 70.4% (2000 est.)