Economy - overview This highly developed and affluent economy is based on private enterprise.The government makes its presence felt, however, through many regulations,permit requirements, and welfare programs affecting most aspects of economicactivity. Industrial activity features food-processing, oil-refining, andmetalworking. The highly mechanized agricultural sector employs only 4% ofthe labor force but provides large surpluses for export and the domestic food-processingindustry. Indeed, the Netherlands ranks third worldwide in value of agriculturalexports, behind the US and France. Sharp cuts in subsidy and social securityspending have been accompanied by sustained growth in output and employment.The Dutch will almost certainly qualify for the first wave of countries enteringthe Economic and Monetary Union (EMU) in 1999.

GDP purchasing power parity - $317.8 billion (1996 est.)

GDP - real growth rate 2.7% (1996 est.)

GDP - per capita purchasing power parity - $20,500 (1996 est.)

GDP - composition by sector
agriculture: 3%
industry: 26%
services: 71% (1993)

Inflation rate - consumer price index 2% (1996 est.)

Labor force
total: 6.4 million (1993)
by occupation: services 73%, manufacturing and construction 23%, agriculture 4% (1994)

Unemployment rate 6.5% (November 1996)

Budget
revenues: $107.2 billion
expenditures: $118.9 billion, including capital expenditures of $NA (1996 est.)

Industries agroindustries, metal and engineering products, electrical machineryand equipment, chemicals, petroleum, fishing, construction, microelectronics

Industrial production growth rate 2.9% (1996 est.)

Electricity - capacity 18.65 million kW

Electricity - production 78 billion kWh

Electricity - consumption per capita 5,140 kWh (1995 est.)

Agriculture - products grains, potatoes, sugar beets, fruits, vegetables; livestock

Exports
total value: $176.2 billion (f.o.b., 1996)
commodities: manufactures and machinery, chemicals; processed food and tobacco, agriculturalproducts
partners: EU 75% (Germany 29%, Belgium-Luxembourg 13%, UK 9%), Central and EasternEurope 3%, US 4% (1994)

Imports
total value: $159.7 billion (c.i.f., 1996)
commodities : raw materials and semifinished products, consumer goods, transportationequipment, crude oil, food products
partners: EU 61% (Germany 24%, Belgium-Luxembourg 12%, UK 9%), US 8% (1994)

Debt - external $0

Economic aid
donor : ODA, $3.4 billion (1996)

Currency 1 Netherlands guilder, gulden, or florin (f.) = 100 cents

Exchange rates Netherlands guilders, gulden, or florins (f.) per US$1 - 1.8009 (January1997), 1.6859 (1996), 1.6057 (1995), 1.8200 (1994), 1.8573 (1993), 1.7585(1992)

Fiscal year calendar year

NOTE: The information regarding Netherlands on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Netherlands Economy 1997 information contained here. All suggestions for corrections of any errors about Netherlands Economy 1997 should be addressed to the CIA.