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Dutch economy up 1.1% in 2005

30 Mar '06
3 min read

Statistics Netherlands announces that the growth rate of the Dutch economy in 2005 reached 1.1 percent. This is lower than the 1.7 percent growth rate in 2004, but well above the figures for the years 2002-2003. This is according to the second estimate made by Statistics Netherlands. The economic growth rate is 0.2 percent point higher than in the first estimate of February.

Again, exports were the driving force behind the continuous but modest economic recovery in 2005. Furthermore there was another slight increase in investments. There was a very modest increase in the consumption of households and government. 2005 had two working days less than 2004

Upward adjustment of economic growth 2005:
The Dutch economic growth rate of 2005 was upwardly adjusted by 0.2 percent point in the second estimate made by Statistics Netherlands. This is because the growth rates of the first three quarters were upwardly adjusted by 0.2 once, and twice by 0.3 percent point. There was no change in the growth of the gross domestic product (GDP) in the fourth quarter.

In the first three quarters of 2005 exports of goods and services turned out higher. To a lesser extent this is true for imports. Furthermore investments were estimated to be a fraction higher and government consumption slightly lower.

Economic growth recovering in the course of the year:
In the fourth quarter of 2005, GDP was 1.6 percent higher than in the same quarter of 2004. This is thesame growth rate as in the two previous quarters.

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