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Extensive travel and tourism guide for Holland, Europe

Holland - Economy

Economy - overview: The Netherlands is a prosperous and open economy depending heavily on foreign trade. The economy is noted for stable industrial relations, moderate inflation, a sizable current account surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs no more than 4% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The country continues to be one of the leading European nations for attracting foreign direct investment. Economic growth slowed considerably in 2001-02, as part of the global economic slowdown, but for the four years before that, annual growth averaged nearly 4%, well above the EU average.

GDP: purchasing power parity - $434 billion (2002 est.)

GDP - real growth rate: 0.3% (2002 est.)

GDP - per capita: purchasing power parity - $26,900 (2002 est.)

GDP - composition by sector:
agriculture: 3.1%
industry: 25.7%
services: 71.2% (2001 est.)

Population below poverty line: NA

Household income or consumption by percentage share:
lowest 10%: 2.8%
highest 10%: 25.1% (1994)

Distribution of family income - Gini index: 32.6 (1994)

Inflation rate (consumer prices): 3.4% (2002 est.)

Labor force: 7.2 million (2000)

Labor force - by occupation:
services 73%, industry 23%, agriculture 4% (1998 est.)

Unemployment rate: 3% (2002 est.)

Budget:
revenues: $134 billion
expenditures: $134 billion, including capital expenditures of $NA (2001 est.)

Industries: agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing

Industrial production growth rate: 0% (2002 est.)

Electricity - production: 88.32 billion kWh (2001)

Electricity - production by source:
fossil fuel: 89.9%
hydro: 0.1%
other: 5.7% (2001)
nuclear: 4.3%

Electricity - consumption: 99.42 billion kWh (2001)

Electricity - exports: 4.209 billion kWh (2001)

Electricity - imports: 21.49 billion kWh (2001)

Oil - production: 46,200 bbl/day (2001 est.)

Oil - consumption: 895,300 bbl/day (2001 est.)

Oil - exports: 1.418 million bbl/day (2001)

Oil - imports: 2.284 million bbl/day (2001)

Oil - proved reserves: 88.06 million bbl (January 2002 est.)

Natural gas - proved reserves: 1.693 trillion cu m (January 2002 est.)

Agriculture - products: grains, potatoes, sugar beets, fruits, vegetables; livestock

Exports: $243.3 billion f.o.b. (2002)

Exports - commodities: machinery and equipment, chemicals, fuels; foodstuffs

Exports - partners: EU 77.1% (Germany 25.7%, Benelux 12.5%, UK 10.5%, France 10.0%, Italy 5.9%) (2002)

Imports: $201.1 billion f.o.b. (2001 est.)

Imports - commodities: machinery and transport equipment, chemicals, fuels; foodstuffs, clothing

Imports - partners: EU 53.1% (Germany 17.6%, Benelux 9.6%, UK 6.7%, France 5.5%), US 8.7% (2002)

Economic aid - donor: ODA, $3.5 billion (2000 est.)

Currency: euro (EUR)
note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries

Currency code: EUR

Exchange rates: euros per US dollar - 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999)

Fiscal year: calendar year

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