Dutch Economy: Growth, Recession, and Recent Developments

The Dutch Economy in Q2 2024

The Dutch economy grew by 1% in the second quarter of 2024 compared to the previous quarter, according to Statistics Netherlands (CBS).

However, this growth was not enough to prevent the economy from entering a recession, as it shrank by 0.3% on a quarterly basis.

This marks the first recession for the Netherlands since 2012.

The Dutch Economy in 2023

The Dutch economy expanded in the fourth quarter of 2023, ending the mild recession that hit the country in 2023.

This growth was driven by strong exports and investment.

However, the economy contracted in the second quarter of 2023, following a contraction in the first quarter.

The Dutch Economy in 2022

The Dutch economy grew more than anticipated in the second quarter of 2022, expanding at the fastest pace in two years.

This growth was driven by strong consumer spending and investment.

However, the economy contracted in the third quarter of 2022, following a contraction in the second quarter.

Factors Contributing to Economic Growth and Recession

Factors Contributing to Economic Growth

• Strong exports
• High levels of investment
• Low interest rates

Factors Contributing to Recession

• Decline in exports
• Fall in investment
• Rising interest rates

Conclusion

The Dutch economy has experienced a period of growth and recession in recent years.

The economy is now in a recession, but it is expected to recover in the second half of 2024.

The government is implementing a number of measures to support the economy, including tax cuts and infrastructure spending.