The economy of the Netherlands is the 17th largest in the world in 2019 (in terms of Gross domestic product; GDP) according to the World Bank and International Monetary Fund. Its GDP per capita was estimated at roughly $57,101 in the fiscal year 2019/20 which makes it one of highest-earning nations in the world.
Netherland distribution of workforce from last 5 years:
Netherland distribution of GDP across economic sectors:
Here attached the last 10 years chart of Netherland GDP:(amount in billion USD)
Sectors of the Economy:
Dutch agriculture is a major player globally and is currently the biggest exporter of agricultural goods after the United States. Dutch agriculture exports rose 8% to the equivalent of €9.9 billion in 2019.
Germany is the largest international consumer of Dutch bio-products (€23.6 billion), followed by Belgium (€10.8 billion), the UK (€8.7 billion), and France (€7.7 billion). Ornamental plants and flowers are the hottest export items for the Netherlands, raking in about €5.8 billion in 2019. Dairy products, eggs, meat, and vegetables profit over €3.5 billion each.
European Union Common Agriculture Policy:
The CAP is a common policy for all EU countries. It is managed and funded at European level from the resources of the EU's budget.
The CAP takes action with:
- Income support through direct payments ensures income stability, and remunerates farmers for environmentally friendly farming and delivering public goods not normally paid for by the markets, such as taking care of the countryside;
- Market measures to deal with difficult market situations such as a sudden drop in demand due to a health scare, or a fall in prices as a result of a temporary oversupply on the market;
- Rural development measures with national and regional programs to address the specific needs and challenges facing rural areas.
Top 10 Agri food Exported from Netherland:(amount in billion Euros)
World's first floating farm in Netherland:
Industrial activity generates around 17.8% of the Dutch GDP, mainly through food-processing, the petrochemical industry, metallurgy and the transport equipment industry. The Netherlands is also one of the largest producers and distributors of oil and natural gas. The secondary sector employs 16% of the workforce. The World Bank estimates that the manufacturing sector alone accounts for 11% of the country's GDP.
Major Key Industry in Netherland:
Energy Sector: The energy industry in the Netherlands is one of the main export products of the country. As estimated, 25% of natural gas reserves in the European Union (EU) are located in the Netherlands. Expansive natural gas supplies were discovered in the Netherlands in 1959 and have generated significant revenues for decades. The Netherlands has had no other mining resources since the closure of the coal industry in 1974. The Groningen Gasveld, situated during Slochteren, is one of the largest natural gas fields in the country.
Chemicals: The chemical industry in the Netherlands is one of the most important economic sectors in the country. The country is home to the headquarters of 19 of the world's foremost multinational chemical companies, including Royal Dutch Shell, DSM, AkzoNobel and BASF. The country is also one of Europe's leading suppliers of chemical products and services. The extensive transport network in the Netherlands makes raw materials easily accessible.
The service sector is the most dominant and biggest contributor to Netherlands' economy. The service sector contributes as much as 69.75% to the GDP. The service sector includes financial services, transportation, goods distribution and tourism. The computer related industry is also a well -developed segment for the sector. The telecommunication industry holds a lot of potential as well.
Netherland is the hotspot for finance sector. The Netherlands as a whole ranks 2nd as biggest fintech nation of the EU and ranks 3rd in VC funding in Europe. With fintech and financial services providers finding a stable base to serve European markets in Amsterdam post-Brexit, the Dutch capital is quickly becoming a prominent financial hub connecting all of Europe.
Top 10 Companies in Netherland
|Company Name||Sector||Fortune 500 Rank|
|Royal Dutch Shell||Oil and Gas||3|
|Airbus||Aerospace and Defense||123|
|Louis Dreyfus Company||Food Production||303|
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