People who would like to get Netherlands information should know that Netherlands is one of the largest economy in the world and is the hub of most of the business activities within European Union. The economy of Netherlands is largely dependent on industry.
Major industrial sectors of Netherlands are electrical machineries, petroleum refineries, food processing and chemicals industry.
Economy of Netherlands
Netherlands can be regarded as one of the largest economy in the world. For the last couple of years Netherlands observed a steady GDP(Gross Domestic Product) growth rate, which is expected to grow by a substantial percentage in the coming years.
The most crucial part of Netherlands information is that the economy of Netherlands is mostly dependent of foreign trade.
Major industrial sectors in Netherlands
The economy of Netherlands is primarily dependent on major industrial sectors like electrical, electronics, textiles, heavy industries like iron, steel, petroleum refineries, processed foods, chemicals, plastics etc.
The agricultural sector of Netherlands is extremely mechanized and more or less 2% of total labor force of Netherlands are engaged in agricultural industry. Major products of agricultural sector are beets, potatoes and grains.
One of the major industries in Netherlands is cheese industry. The other industry on which Netherlands’s economy is partially dependent is cattle and poultry industry. Over time the growth of cattle and poultry industry is rising. Fishing is another occupation.
Currency of Netherlands is EURO
1 USD is equal to EUR1.124
Dutch One Euro coin is equal to 100 cent
GDP growth rate
GDP of Netherlands in the year 2006 was $629,911 billion and GDP growth rate was 2.9%
Industrial sector wise GDP rate ( year 2002)
In agriculture sector GDP grew by 2%, in manufacturing sector it was by 19%, and in other service sector it was by 79%.
The inflation rate in the year 2006 was 1.3%.
Last Updated on : 25th June 2013