The Netherlands economy grew by a record 7.8 percent on quarter in the three months to September 2020, faster than an initially estimates of a 7.7 percent growth, partially recovering from an unprecedented contraction of 8.5 percent in the previous period and beating market expectations of a 7.7 percent expansion. Household consumption was the main driver of growth, rising 8.9 percent (-11.3 percent in Q2), while other positive contributions came from public spending (7.2 percent vs -3.1 percent) and investment (7.2 vs -11.3 percent). Also, net external demand contributed positively to the GDP growth, as exports rose by 8.3 percent (vs -10.3 percent in Q2), while imports increased at a softer 6.7 percent (vs -9.5 percent in Q2). Year-on-year, the economy shrank 2.5 percent, easing from a record 9.4 percent contraction in the second quarter. source: Statistics Netherlands
GDP Growth Rate in Netherlands averaged 0.51 percent from 1988 until 2020, reaching an all time high of 7.80 percent in the third quarter of 2020 and a record low of -8.50 percent in the second quarter of 2020. This page provides - Netherlands GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Netherlands GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Growth Rate in Netherlands is expected to be -1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Netherlands to stand at 1.40 in 12 months time. In the long-term, the Netherlands GDP Growth Rate is projected to trend around 1.00 percent in 2021 and 0.50 percent in 2022, according to our econometric models.