Economy - overview:
The Netherlands has a prosperous and open economy, which depends
heavily on foreign trade. The economy is noted for stable industrial
relations, moderate unemployment and 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 2% of the labor
force but provides large surpluses for the food-processing industry
and for exports. The Netherlands, along with 11 of its EU partners,
began circulating the euro currency on 1 January 2002. The country
continues to be one of the leading European nations for attracting
foreign direct investment. Economic growth slowed considerably in
2001-06, as part of the global economic slowdown, but for the four
years before that, annual growth averaged nearly 4%, well above the
EU average.
GDP (purchasing power parity):
$512 billion (2006 est.)
GDP (official exchange rate):
$612.7 billion (2006 est.)
GDP - real growth rate:
2.9% (2006 est.)
GDP - per capita (PPP):
$31,700 (2006 est.)
GDP - composition by sector: agriculture: 2.1% industry: 23.9% services: 73.9% (2006 est.)
Labor force: 7.6 million (2006 est.)
Labor force - by occupation: agriculture: 2% industry: 19% services: 79% (2004 est.)
Unemployment rate:
5.5% (2006 est.)
Population below poverty line:
10.5% (1999)