![]() The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. Its highly mechanised agricultural sector employs no more than 2% of the labour force, but provides large surpluses for the food-processing industry and for exports. ![]() Industrial activity is predominantly in food processing, chemicals, petroleum refining, high-tech, financial services, the creative sector and electrical machinery. ![]() The economy is noted for stable industrial relations, fairly low unemployment and inflation, a sizable current account surplus (which, compared to the size of the country, is even more than Germany) and an important role as a European transportation hub Rotterdam is the biggest port in Europe and Amsterdam has one of the biggest airports in the world. The Netherlands has a prosperous and open economy, which depends heavily on foreign trade. However, the unforeseen consequences of the country's energy wealth originally impacted the competitiveness of other sectors of the economy, leading to the theory of Dutch disease, after the discovery of the vast Groningen gas field. Over the following decades, the sale of natural gas generated a significant rise in revenue for the Netherlands. ![]() Currently the Netherlands accounts for more than 25% of all natural gas reserves in the European Union. The Netherlands has had steady natural gas resources since 1959, when a wellspring was discovered. Its GDP per capita at purchasing power parity was estimated at $72,973 in the fiscal year 2023, which makes it one of the highest-earning nations in the world. The economy of the Netherlands is the 18th largest in the world in 2021 (in terms of Gross domestic product GDP) according to the World Bank and the International Monetary Fund. OECD, 2012 Part-time employment rate (%) in OECD countries. ![]() All values, unless otherwise stated, are in US dollars.ĭutch exports in 2006 The labour productivity level of the Netherlands is one of highest in Europe. ![]()
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