Netherlands' GDP higher than neighbours', rises 0.6% QoQ in Q4 2022

Exports including that of goods rose by 2.4 per cent compared to Q3 2022. Imports were up by 2.2 per cent. The trade balance made a positive contribution to growth in Q4, according to the first quarterly estimate conducted by the Dutch national statistical office CBS.

The economy grew by 3 per cent in Q4 2022 compared to Q4 2021. With the Q4 figure being known, the first provisional growth figure for the year 2022 is also known. GDP grew by 4.5 per cent last year. That is slightly less than in 2021, when the economy grew by 4.9 per cent. It is the first time economic growth rates have reached this level in two consecutive years this century.

Exports were 5.2 per cent higher than in 2021. Imports were 4.3 per cent higher, so the trade balance made a positive contribution to economic growth.

The economies of France and Belgium grew by 0.1 per cent, while the GDP of Germany—the largest economy in the European Union (EU)—contracted by 0.2 per cent. On average, growth in the EU stood at 0 per cent. Furthermore, UK’s economy remained the same in size, while that of the US grew by 0.7 per cent.

ALCHEMPro News Desk (NB)