Dutch economy grows 0.8% QoQ, 1.7% YoY in Q3 2024: CBS

16 Nov '24

1 min read

Dutch economy grows 0.8% QoQ, 1.7% YoY in Q3 2024: CBS

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Price-adjusted Dutch GDP rose by 0.8 per cent quarter on quarter (QoQ) in Q3 2024, according to the first estimate from Statistics Netherlands.
In Q2, the economy grew by 1.1 per cent QoQ.
The Dutch economy was 1.7 per cent larger YoY in Q3 2024.
In Q3 2024, exports of goods and services grew by 0.4 per cent QoQ, while such imports rose by 0.6 per cent QoQ; the trade balance fell by 1 per cent.

Price-adjusted Dutch gross domestic product (GDP) increased by 0.8 per cent quarter on quarter (QoQ) in the third quarter (Q3) this year, according to the first estimate from Statistics Netherlands (CBS).

In Q2, the economy grew by 1.1 per cent QoQ.

The Dutch economy was 1.7 per cent larger year on year (YoY) in Q3 2024. The contribution of trade balance to this growth was slightly negative.

The Q3 growth—both QoQ and YoY—were primarily due to public and household consumption.

Household consumption in Q3 2024 increased by 0.8 per cent QoQ. Adjusted for price changes, consumers mainly spent more on clothing, home furnishing and energy.

Public consumption grew by 0.8 per cent QoQ, while investment in fixed assets increased by 0.7 per cent QoQ.

In Q3 2024, exports of goods and services grew by 0.4 per cent QoQ, while such imports rose by 0.6 per cent QoQ; the trade balance fell by 1 per cent.

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