Pages Navigation Menu

Daily Dutch News in English

Dutch economy growing for the fourth consecutive quarter

It was for the fourth quarter in a row that the Dutch economy grew during the first quarter of 2015. The growth rate was 0.4 percent from the previous quarter, according to the first calculations of the currently available data.

Contributions to Dutch economic growth are widening: investments, consumption and the balance of exports and imports all contribute positively. The Dutch economy was up 2.4 percent from the first quarter of 2014, according to the latest figures released by Statistics Netherlands.

Dutch economy grew by 2.4 percent from last year
In the first quarter of 2015 the Dutch economy had increased by 2.4 percent over the first quarter of 2014, mainly because of higher investments, more exports and more household consumption. Government consumption increased slightly as well.

More exports of oil products, natural gas, means of transport and machinery
Exports of Dutch products grew slightly faster that re-exports in the first quarter. Exports of oil products, natural gas, and means of transport, machinery and equipment, were substantially greater than in the first quarter of 2014. More services were exported as well. The imports of goods and services did not keep pace with the exports though.

Consumers spent more on gas and electrical devices
Consumer confidence improved as well, since consumers were confident in March for the first time since the summer of 2007, on balance. Consumers spent more on furniture and electrical equipment. Consumers also spent more in hotels and restaurants.

More invested in homes and means of transport
People spent considerably more in homes than in the first quarter of 2014, and in means of transport for goods and individuals. Spending on trucks and trailers, etc. increased in particular.

Enterprises and institutions invested more in machinery and installations, telecommunication and software. Producers in manufacturing are positive about their future production. The degree of capacity utilisation in the second quarter was at its highest level since the start of the crisis in 2008.