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Economy
- overview: The Netherlands is a prosperous and open economy
in which the government has successfully reduced its role
since the 1980s. 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 Netherlands successfully addressed
the issue of public finances and stagnating job growth long
before its European partners. This has helped cushion the
economy from a slowdown in the euro area. Strong 3.8% GDP
growth in 1998 was followed by an only slightly lower 3.4%
expansion in 1999. The outlook remains favorable, with real
GDP growth in 2000 projected at 3.25%, along with a small
budget surplus. The Dutch were among the first 11 EU countries
establishing the euro currency zone on 1 January 1999.
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GDP:
purchasing power parity - $365.1 billion (1999 est.)
GDP
- real growth rate: 3.4% (1999 est.)
GDP
- per capita: purchasing power parity - $23,100
(1999 est.)
GDP
- composition by sector:
agriculture: 3.5%
industry: 26.8%
services: 69.7% (1998 est.)
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One of our main export products: Cheese |
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| Population
below poverty line: NA% |
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Household
income or consumption by percentage share:
lowest 10%: 2.9%
highest 10%: 24.7% (1991) |
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| Inflation
rate (consumer prices): 2.2% (1999 est.) |
Labor
force: 7 million (1998 est.) |
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| Labor
force - by occupation: services 73%, industry 23%,
agriculture 4% (1998 est.) |
Unemployment
rate: 3.5% but generous welfare benefits have prompted
large numbers to drop out of the labor market (1999 est.)
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Budget:
revenues: $163 billion
expenditures: $170 billion, including capital expenditures
of $NA (1999 est.) |
Industries:
agroindustries, metal and engineering products, electrical
machinery and equipment, chemicals, petroleum, construction,
microelectronics, fishing |
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| Industrial
production growth rate: 3% (1999) |
Electricity
- production: 88.736 billion kWh (1998) |
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Electricity
- production by source:
fossil fuel: 91.32%
hydro: 0.11%
nuclear: 4.08%
other: 4.49% (1998) |
Electricity
- consumption: 94.325 billion kWh (1998) |
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| Electricity
- exports: 400 million kWh (1998) |
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Electricity
- imports: 12.2 billion kWh (1998) |
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| Agriculture
- products: grains, potatoes, sugar beets, fruits,
vegetables; livestock |
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Exports:
$169 billion (f.o.b., 1998) |
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| Exports
- commodities: machinery and equipment, chemicals,
fuels; foodstuffs |
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Exports
- partners: EU 78% (Germany 27%, Belgium-Luxembourg
13%, France 11%, UK 10%, Italy 6%), Central and Eastern
Europe, US (1998)
Imports:
$152 billion (f.o.b., 1998)
Imports
- commodities: machinery and transport equipment,
chemicals, fuels; foodstuffs, clothing
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| Also
one of our most famous exported products: Tulips |
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Imports
- partners: EU 61% (Germany 20%, Belgium-Luxembourg 11%,
UK 10%, France 7%), US 9%, Central and Eastern Europe (1998)
Debt
- external: $0
Economic
aid - donor: ODA, $3.4 billion (1999)
Currency:
1 Netherlands guilder, gulden, or florin (f.) = 100 cents;
note - to be replaced by the euro on 1 January 2002
Exchange
rates: euros per US$1 - 0.9867 (January 2000), 0.9386
(1999); Netherlands guilders, gulden, or florins (f.) per
US$1 - 1.8904 (January 1999), 1.9837 (1998), 1.9513 (1997),
1.6859 (1996), 1.6057 (1995)
note: on 1 January 1999, the EU introduced a common
currency that is now being used by financial institutions
in some member countries at a fixed rate of 2.20371 guilders
per euro; the euro will replace the local currency in consenting
countries for all transactions in 2002
Fiscal
year: calendar year
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