Dutch GDP Expands 0.4% In Q4

(RTTNews) - The Dutch economy expanded for the third straight quarter in the three months ending December, though at a slower pace, preliminary data from the Central Bureau of Statistics showed on Friday.

Gross domestic product rose 0.4 percent sequentially in the fourth quarter, following a 0.8 percent increase in the third quarter.

The overall growth in the fourth quarter was mainly attributable to the trade balance and investments, and consumption also made a positive contribution, the agency said.

Considering demand components, investments in fixed assets advanced 3.0 percent. Trade balance increased by more than 7 percent as exports of goods and services climbed by 0.4 percent, while imports dropped by 0.6 percent.

Both household and government expenditure grew 0.9 percent in each case during the final quarter of 2024.

On a yearly basis, GDP advanced 1.8 percent in the fourth quarter, and the growth rate for the whole year 2024 was 0.9 percent compared to only a 0.1 percent rise in 2023. With an increase of 3.1 percent, government consumption contributed the most to growth in 2024.

Data showed that household consumption in the Netherlands grew 1.8 percent annually in December, faster than the 0.9 percent gain in November. Consumers bought both more goods and more services at the end of the year.

Separate official data showed that exports remained stagnant in December compared to last year, following a 4.2 percent growth in November. Exports of petroleum products, crude oil, and natural gas were lower, while outflows of food and luxury goods, chemical products, and machinery were higher.