The Dutch economy shrank by 8.5 percent on quarter in the three months to June 2020, the steepest pace of contraction since the series began in 1988, following a 1.5 percent contraction in the previous quarter. That was the second consecutive quarterly decline in GDP, which means the country officially entered a recession due to the coronavirus health crisis that ravaged business activity and global demand. Household consumption slumped 11.3 percent (vs -2.6 percent in Q1), fixed investment tumbled 11.3 percent (vs 0.6 percent in Q1) and government spending decreased 3.1 percent (vs -1.5 percent in Q1). In addition, net external demand contributed negatively to the GDP as exports plunged 10.3 percent and imports were down 9.5 percent. On a yearly basis, the economy shrank by a record 9.4 percent.
GDP Growth Rate in Netherlands averaged 0.45 percent from 1988 until 2020, reaching an all time high of 1.70 percent in the first quarter of 1999 and a record low of -8.50 percent in the second quarter of 2020. This page provides - Netherlands GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Netherlands GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Statistics Netherlands
GDP Growth Rate in Netherlands is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Netherlands to stand at 0.90 in 12 months time. In the long-term, the Netherlands GDP Growth Rate is projected to trend around 0.60 percent in 2021 and 0.50 percent in 2022, according to our econometric models.