Dutch GDP Grows More Than Expected

The Dutch economy grew by 0.6% in the third quarter of 2026, following an upwardly revised expansion of 0.7% in Q2 and exceeding market expectations of 0.3%. Growth was primarily supported by a stronger trade balance and the restocking of natural gas reserves. Exports rose by 0.5% quarter-on-quarter, driven particularly by machinery and transport equipment, while imports increased at a slower pace. Government and household consumption both advanced by 0.4%, reflecting higher public spending on healthcare and civil servants’ salaries, as well as increased household expenditure on food and clothing. Investment, however, declined by 0.1%, mainly due to fewer aircraft imports. On the production side, mining and quarrying recorded the strongest growth in value added, at 6.9%, while manufacturing expanded by 2.7% and made the largest contribution to overall GDP growth, reflecting its economic importance and strong performance in machinery. Year-on-year, GDP increased by 2.1%.

The Dutch economy expanded by 0.6% in the three months to June 2026, revised up from an initial estimate of 0.4% and following 0.3% growth in the previous period. This marked the strongest growth since the third quarter of 2024 and was driven entirely by domestic demand. Household consumption increased by 0.8%, after a 0.5% gain in the first quarter. In contrast, government spending slowed (0.5% vs 0.7%), as did gross investments in fixed assets (0.3% vs 0.7%), reflecting a smaller increase in business and household investment (1% vs 1.2%) and declining government investment (-3.3% vs -0.9%). Meanwhile, both exports and imports grew by 1.4%. On the production side, the highest growth was recorded in trade, transport and hospitality (2.1% vs 0.2%), industry (1.5% vs -2%), commercial services (1.2% vs 0.6%), and business services (1% vs 0.1%). Yearly, GDP rose by 1.6% in the second quarter, revised up from a preliminary estimate of 1.3% and following a 1.4% increase in the prior quarter.

The Dutch economy expanded by 0.4% quarter-on-quarter in Q2 2026, accelerating slightly from the 0.3% growth recorded in Q1 and exceeding economists’ expectations of a 0.2% increase. The stronger-than-expected performance was driven mainly by domestic demand. Household spending rose by 0.5%, supported by higher purchases of passenger cars, food, beverages and tobacco, while business investment also increased by 0.5%, led by greater spending on electronic equipment despite weaker construction investment. Government consumption also contributed, rising 0.4% due to higher healthcare expenditure and public sector wages. External trade provided a small drag on growth, as exports increased by 1.2%, while imports rose even faster at 1.4%. On the production side, the strongest growth came from the trade, accommodation and food services, transportation and storage sectors, while manufacturing also performed well, particularly the machinery and petroleum industries.