Imports G&S in Netherlands

Netherlands Imports G&S | Economic News & Forecasts

Netherlands - Imports Goods and Services

Economic growth picks up pace in Q2 on the back of fixed investment growth and the external sector

The Dutch economy picked up pace in the second quarter according to the first estimate of Statistics Netherlands released on 14 August, with calendar-adjusted quarter-on-quarter growth coming in at 0.7% (Q1: +0.6% quarter-on-quarter). A year-on-year comparison, however, showed that the economy decelerated. In the second quarter, economic growth came in at 2.9% in non-working-day adjusted terms, up from the first quarter’s 2.8% expansion.

Domestic demand in Q2 was carried by fixed investment, which expanded 0.7% over the previous quarter. Nevertheless, this was significantly down from the first quarter’s 2.5% growth rate. Household consumption was flat in Q2 (Q1: +1.4% quarter-on-quarter) despite unemployment remaining at a near-decade low throughout the second quarter. Growth in government consumption, meanwhile, slowed markedly to 0.2% from Q1’s 0.4%.

The external sector rebounded from the first quarter’s slump during which net exports dragged on growth. In the second quarter, exports expanded 0.9% (Q1: -0.6% qoq) partially thanks to a noteworthy rebound in goods exports. Imports, meanwhile, contracted 0.1% (Q1: +0.3% qoq), likely linked to weaker domestic demand as the pace of growth in goods imports moderated markedly while services imports contracted.

Looking ahead, the Dutch economy is expected to continue growing at a solid pace this year on the back of public and private consumption, and fixed investment. However, the contribution of net exports is expected to moderate on higher oil prices and slower world trade growth. Downside risks stem from Brexit—the United Kingdom ranks among the most important trading partners of the Netherlands—and the possibility of a flare-up in trade tensions between the U.S. and the EU.

A detailed national accounts breakdown will be released on 21 September.


Netherlands GDP Forecast


The government expects the economy to grow 2.9% in 2018 and 2.7% in 2019. Met the why particular Consensus Forecast panelists, however, see GDP growing at a softer pace of 2.6% in 2018, which is down 0.1 percentage points from last month’s projection. For 2019, the panel expects the economy to expand 2.1%.

Netherlands - Imports G&S Data

2013  2014  2015  2016  2017  
Imports (G&S, annual variation in %)1.0  4.2  8.4  4.1  5.4  

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Netherlands Facts

ValueChangeDate
Bond Yield0.605.70 %Sep 19
Exchange Rate1.180.65 %Sep 20
Stock Market547-0.57 %Sep 20

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