Economy of the Netherlands

Economy of the NetherlandsEconomy of the Netherlands is the 16th largest in the world. The economic freedom index ranking Netherlands as the 13th country among the 157 surveyed.

Ranking 134th in the world in size of territory and 59th in terms of population, the Netherlands continue to be among the top twenty of the leading countries in terms of aggregate GDP (in 2010, according to estimates of the Central Bureau of Statistics of the Netherlands – 677 billion euros), the top ten – in terms of GDP per capita (40.7 thousand euros) and the total volume of imports and exports ( 650.1 billion euros) in the first five global investors abroad (about 480 billion U.S. dollars), the four economic leaders of the European Union.

The most important sectors of the economy:

• Mechanical Engineering;
• Petrochemicals;
• Aircraft;
• Shipbuilding;
• Iron and steel;
• Textiles;
• Furniture industry;
• Pulp and paper industry;
• Manufacturing of beer;
• Manufacturing of wearing apparel.

Heavy industry – oil refining, chemical industry, metallurgy and mechanical engineering are concentrated in coastal areas, particularly in Rotterdam, as well as Eymyaydene, Dordrecht, Arnhem and Nijmegen (all these cities are on navigable rivers or canals). There are many wind energy farms located at the seaside.

The Netherlands host the headquarters and manufacturing facilities such transnational and European companies, as VimpelCom, Royal Dutch / Shell (petrochemicals), Unilever (household chemicals and food), Royal Philips Electronics (electronics). Leading positions in the global economy is also occupied by the largest Dutch companies based in the Netherlands and multinational corporations (mainly with Dutch capital): Gasunie (production and distribution of gas), ING Group (insurance, finance), Hoogovens (metallurgy), DAF Trucks (automotive), Rhine – Shelde Verolme (shipbuilding), DSM” and Ferenigde Maschinenfabrik (engineering), Akzo -Nobel (chemical products), Aegon (insurance), KPMG (advisory services), Campina (food), Heineken (bewery).
The Dutch banking system is represented by such banks as ING Groep NV, ABN AMRO Bank and Rabobank.

The main imports are oil, automobiles, iron and steel, clothing, non-ferrous metals, foods, different transport equipment.
Main exports: chemical products, meat, greenhouse vegetables, flowers, natural gas, metal products.

Economy of the Netherlands has gained a good reputation for world-renowned companies, the largest firms, corporations, such as: Royal Dutch -Shell (extraction and processing of oil and other energy sources); Unilever (food, household chemicals, cosmetics, perfumes); Philips (household electrical appliances, electrical equipment); AKZO – Nobel (chemical products), Hoogovens (metallurgy), Fokker ( aeronautics), DAF Trucks (automotive), Rhine – Shelde Verolme (shipbuilding), Ferenihde Maschinenfabrik (engineering).

Agriculture in the Netherlands is highly intensive and important sector of the economy, although it was in 2005 occupied only about 1.0% of the population and produced less than 1.6% of GDP. In 2005, agricultural exports exceeded 17 billion euros (more than 6% of merchandise exports), about 80% of exports consume EU countries (Germany – 25%, UK – 12%). The structure is dominated by exports vegetables and flowers (12 billion euros) and the products of dairy farming (5 billion euros).

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