The netherlands economy

See Article History Alternative Titles:

The netherlands economy

Bring fact-checked results to the top of your browser search. Economy Since World War IIthe Netherlands has been a highly industrialized country occupying a central position in the economic life of western Europe. Although agriculture accounts for a small percentage of the national income and labour forceit remains a highly specialized contributor to Dutch exports.

Because of the scarcity of mineral resources—with the important exception of natural gas—the country is dependent on large imports of basic materials.

What country do you live in?

The Netherlands has a market economy, but the state traditionally has been a significant participant in such fields as transportation, resource extraction, and heavy industry. The government also employs a substantial percentage of the total labour force and effects investment policy.

Nonetheless, during the s, when the ideological climate favoured market economics, considerable privatization was initiated, government economic intervention was reduced, and the welfare state was restructured.

Nonetheless, the Netherlands has, relatively speaking, a highly regulated mixed economy. Since World War II, economic development has been consciously stimulated by government policy, and state subsidies have been granted to attract industry and services toward the relatively underdeveloped north and certain other pockets of economic stagnation.

Despite these subsidies, the western part of the country remains the centre of new activity, especially in the service sector. Dutch dairy farming is highly developed; the milk yield per acre of grassland and the yield per cow are among the highest in the world. A good percentage of the total milk production is exported after being processed into such dairy products as butter, cheese, and condensed milk.

Meat and eggs are produced in intensively farmed livestock holdings, where enormous numbers of pigs, calves, and poultry are kept in large sheds and fed mainly on imported fodder.

Most cereals for human consumption as well as fodder are imported. Horticulture carried on under glass is of special importance. The export of hothouse tomatoes, cucumbers, bell peppers, cut flowers, and houseplants has greatly increased, and the Netherlands now contains a substantial share of the total European horticultural area under glass.

Open-air horticulture also produces fruit, vegetables, cut flowers, and bulbs, the latter from the world-famous colourful bulb fields. Only one-tenth of the land is forested.

The Dutch fishing industrywhile not large, is nevertheless significant. At the beginning of the 21st century, three-fourths of the fish consumed in the Netherlands was foreign-caught, yet about four-fifths of the total catch was exported.

As a result, the country is unusual in exporting more fish than it imports. Allan Cash Photolibrary Resources and power With the increasing use of oil and especially natural gas, coal mining concentrated in the southeast was discontinued in because of the rising cost of production.

The Netherlands imports several million tons of coal annually to meet domestic and industrial needs, including those of such industrial installations as the steel works of IJmuiden at the mouth of the North Sea Canal.

The production of crude oilof which there are minimal deposits, covers only a small part of Dutch requirements.

The netherlands economy

The wells are located near Schoonebeek, in the northeast, and in the southwest. Large amounts of crude oil are imported for refining in the Netherlands, and much of the refined petroleum is exported. The discovery of natural gas in had a tremendous influence on the development of the Dutch economy.

The gas fields are in the northeastern Netherlands—with the largest field at Slochteren—and beneath the Dutch sector of the North Sea. Under the Geneva Convention ofthe Netherlands was allocated a 22,square-mile 57,square-km block of the continental shelf of the North Sea, an area larger than the country itself.

Technological advances led to an increase in offshore production in the last decades of the 20th century.

Expert Insight

One-third of the natural gas produced is exported, primarily to countries of the European Union EUhelping to improve the balance of payments in the economic sector—in which the Netherlands has usually had its largest deficit.Netherlands GDP Growth Rate The Netherlands is the sixth-largest economy in the Euro Zone and important transportation hub in Europe.

The Dutch economy depends heavily on foreign trade, with exports accounting . Limburg (/ ˈ l ɪ m b ɜːr ɡ /, Dutch pronunciation: [ˈlɪmbʏrx] (); Dutch and Limburgish: (Nederlands-)Limburg; French: Limbourg, French pronunciation:) is the southernmost of the 12 provinces of the is in the southeastern part of the country, stretched out from the north, where it touches the province of Gelderland, to the south, where it internationally borders Belgium.

Netherlands - Economy: Since World War II, the Netherlands has been a highly industrialized country occupying a central position in the economic life of western Europe.

The World Factbook — Central Intelligence Agency

Although agriculture accounts for a small percentage of the national income and labour force, it remains a highly specialized contributor to Dutch exports. The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and low unemployment.

Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. Gross domestic product (millions of Ranking Economy US dollars) 1 United States 19,, 2 China 12,, About Amsterdam.

Amsterdam is the Netherlands’ capital, known for its artistic heritage, elaborate canal system and narrow houses with gabled facades, legacies of the city’s 17th-century Golden Age.

Global Competitiveness Report - Reports - World Economic Forum