Economic growth 3.5% in 2007

18 Feb '08

3 min read

Based on Statistics Netherlands' first estimate of fourth quarter growth in 2007, Dutch economic growth in 2007 came to 3.5 percent. This is the highest growth rate since 2000. In 2006 economic growth was 3.0 percent.

Again exports contributed most to economic growth, but fixed capital formation and consumption also played an important part. The construction industry and commercial services showed above average production growth rates.

Economic growth 4.4 percent in fourth quarter:
Dutch economic growth was 4.4 percent in the fourth quarter of 2007. This is the highest growth rate for more than seven years. The fourth quarter did have one working day more than in 2006.

Exports again grew strongly in the fourth quarter of 2007. The increase in imports was considerably smaller. Household consumption also picked up strongly. Just as in the third quarter the production of natural gas boosted economic growth in the fourth quarter.

Quarter-on-quarter growth 1.2 percent:
Economic growth was 1.2 percent in the fourth quarter compared with the third quarter of 2007. This quarter-on-quarter growth is the second highest in nearly four years. Only in the third quarter was it higher, at 1.9 percent.

Exports up substantially again:
The volume of exports of goods and services in 2007 was 6.4 percent larger than in 2006. This is fractionally lower than the growth in 2006. Exports of Dutch manufactured products grew by nearly just as much as in 2006, while the increase in re-exports was slightly smaller.

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