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Daily Dutch News in English

Dutch economy grows 1.7%

Today, both the Central Bureau of Statistics in the Netherlands and the Federal Statistical Office Germany published the growth figures for 2010.

The economy grew by 3.6 percent in Germany and in the Netherlands with 1.7 percent.

The Dutch economy benefits from increased exports and growth in Germany.

The German Minister of Economic Affairs Rainer Brüderle predicted a “XXL-growth”, already last year. And in January he could report that Germany is striding forward.

Germany is recovering faster than many other European countries from the crisis. The traditional motors of the economy, industry and exports, are doing well again. And finally domestic consumption increased as well: Germans not only earn money, they spend also.

The German economy is heavily dependent on exports. This is an advantage when it other parts of the world are doing well, like now in China, India and Brazil. These countries buy plenty of cars, machinery and chemicals.

In 2010, German exports grew by 18.5 percent. Last year household spending grew by an average by 1.2 percent.

Germans expect to spend even more in 2011. That’s a big difference with countries such as France, Britain and Spain, where public expectations are negative.