Dutch Q2 Annual Growth Revised Higher

The Dutch economy expanded by 1.7% year-on-year in Q2 2025, easing from 2.2% growth in Q1 and marking the slowest annual expansion in a year, though revised up from preliminary estimates of 1.5%. The main drag on growth was slowing government spending (2.1% vs 2.8% in Q1) and a negative contribution from net external demand, as imports advanced 2.7%—faster than the 1.5% rise in exports. Meanwhile, growth picked up for household consumption (1.9% vs 2.1%) and fixed investments (2.8% vs 1.4%). On a quarter-on-quarter basis, GDP grew by 0.2%, slowing from 0.3% in Q1 and marking the softest quarterly growth since Q1 2024, though revised up from initial estimates of 0.1%.

The Dutch economy grew by 1.5% year-on-year in Q2 2025, the slowest pace in a year and down from 2.2% in Q1. Growth was mainly driven by higher government spending, household consumption, and investment. Government consumption rose 2.8%, household spending increased 1.0%, and investments climbed 2.5%. Exports grew 2.2%, but imports rose more sharply at 3.7%, meaning trade weighed on overall growth. By sector, industry, public services like government and healthcare, and trade-related sectors such as hospitality, transport, and storage contributed the most to the yearly expansion.

The Dutch economy expanded by 2.2% year-on-year in Q1 2025, revised up from the initially estimated 2% and marked the fastest growth since Q4 2022. The upward revision was mainly driven by a stronger trade balance, with exports rising 3.1% (vs 1.7%) and outpacing the 1.8% (vs 1.9%) increase in imports. Household consumption also rose slightly (1.2% vs 1.1%), while government spending grew at a slower pace (2.8% vs 3.1%). Fixed investments increased by 1.4%, moderating sharply from 6% in Q4. By sector, industry, government, and healthcare made the largest contributions to annual growth. On a quarterly basis, GDP rose 0.4%, revised up from an initial 0.1%, but slightly slower than the 0.5% growth recorded in Q4.