Dutch Economic Growth Returns Amid Solid Export Growth

Strong Second Quarter Performance

The Dutch economy grew more than anticipated in the second quarter of 2024, expanding at its fastest pace in two years.

The economy grew by 1.0% in the second quarter compared with the first, and by 0.8% compared with the same period last year.

This marks the strongest quarterly growth since the start of monetary union 17 years ago.

The growth was primarily driven by a surge in exports, which increased by 6.2% in the second quarter.

This was largely due to increased demand for Dutch goods from other European countries, as well as from China and the United States.

Exports now account for more than 60% of Dutch GDP, making the country heavily reliant on international trade.

The Dutch government has forecast that the economy will continue to grow in the coming quarters, albeit at a slower pace.

However, there are some risks to this outlook, including the ongoing war in Ukraine and the potential for a global recession.