Netherlands economy at a glance

Latest figures for Netherlands: inflation, growth, interest rates, jobs, bond yields, debt and taxes. Updated 6 November 2026. Open Netherlands on the interactive map →

Key figures

Indicator	Latest	Period	Previous
Inflation (consumer prices, year on year)	3.3%	October 2026	3.0% September 2026
Core inflation (excluding food and energy)	3.0%	October 2026	2.9% September 2026
Real GDP growth (year on year)	2.1%	Q3 2026	1.6% Q2 2026
Policy rate (European Central Bank)	2.50%	November 2026	2.50% October 2026
Unemployment rate	4.0%	September 2026	4.0% August 2026
10-year government bond yield	3.56%	September 2026	3.29% August 2026
Manufacturing PMI (Nevi / S&P Global Netherlands Manufacturing PMI)	55.0	October 2026	55.6 September 2026
Retail sales (year on year)	1.2%	September 2026	2.2% August 2026
Industrial production (year on year)	9.8%	August 2026	8.8% July 2026
Wages (year on year)	4.1%	Q3 2026
House prices (year on year)	2.9%	Q3 2026	4.1% Q2 2026
Stock market (AEX)	1,129	November 2026	+19.7% over 12 months

Questions and answers

What is the inflation rate in Netherlands?

Netherlands's annual inflation rate was 3.3% in October 2026, up from 3.0% in September 2026.

What is the interest rate in Netherlands?

The European Central Bank deposit facility rate is 2.50% (as of November 2026). The next rate decision is due on 17 December 2026.

How fast is Netherlands's economy growing?

Netherlands's real GDP grew 2.1% year on year in Q3 2026. The IMF's October 2026 World Economic Outlook forecasts growth of 1.5% in 2026 and 1.3% in 2027.

What is the unemployment rate in Netherlands?

Netherlands's unemployment rate was 4.0% in September 2026, unchanged from August 2026.

What is Netherlands's 10-year government bond yield?

Netherlands's 10-year government bond yield averaged 3.56% in September 2026.

How much government debt does Netherlands have?

Netherlands's government debt is about 44.7% of GDP (latest annual figure), with a budget deficit of 1.6% of GDP.

What is Netherlands's credit rating?

Netherlands's sovereign credit ratings: S&P AAA, Moody's Aaa, Fitch AAA.

What is the VAT rate in Netherlands?

Netherlands's standard VAT rate is 21% (2026 rules).

What is the corporate tax rate in Netherlands?

Netherlands's corporate income tax rate is 25.8% (2026 rules).

Who leads Netherlands?

Netherlands is led by Prime Minister Rob Jetten (D66), leading the Jetten I minority cabinet of D66, VVD and CDA; King Willem-Alexander (head of state). Next election: None called; next regular general election due by 2030 (an early collapse is widely discussed).

Outlook

The CPB's Budget Day forecast (September 2026) expects GDP growth of 1.4% in 2026 and 1.2% in 2027, CPI inflation of 3.3% falling to 2.7%, and unemployment edging up to about 4.0%, with median purchasing power slipping by 0.1% in 2027, the first fall in years. The CPB names energy and fuel prices, geopolitical and trade tensions, financial-market turbulence and the cabinet's minority position as the main risks. On the upside, strong chip-equipment demand linked to AI investment, shown in ASML's record third-quarter sales, is lifting industrial output and exports.

Why Netherlands matters for the world economy

The Netherlands is Europe's main logistics gateway: Rotterdam and the Dutch distribution network carry a large share of EU imports of energy, commodities and consumer goods, so Dutch trade data track import demand across the continent, and Germany and Belgium alone take about a third of its goods exports. It is home to ASML, the sole maker of EUV lithography machines, which reported record quarterly sales of EUR 11.7bn on 14 October 2026; Dutch export-licence decisions are therefore a key lever in US-China technology rivalry and in global chip supply. It also hosts the TTF gas benchmark, which sets European gas prices during the current energy shock, and its large pension funds are significant investors in global bond and equity markets.

Politics

Jetten's three-party minority cabinet, in office since early 2026, holds 66 of 150 lower-house seats and is about 16 votes short in the Senate, so every budget and reform needs opposition votes from either the left (Pro) or the right (JA21, BBB). The coalition presented its first budget on 15 September after last-minute internal talks failed to secure opposition backing, and talks with seven opposition parties resumed in late October after it dropped planned welfare cuts, leaving Box 3 wealth taxation and asylum rules as the main bargaining points. Public support is low: a September poll found only 16% confidence in the cabinet, and an August survey found most voters expect it to fall early, which makes fiscal policy (planned 2027 tax rises of about EUR 6bn, extra infrastructure and defence spending) uncertain.

System: Parliamentary constitutional monarchy.

Economy and taxes

GDP: US$1,333 billion
Population: 18.1 million
Government debt: 44.7% of GDP
Budget balance: −1.6% of GDP
Current account: 7.6% of GDP
Exports: 80.7% of GDP
Main exports: Machinery including semiconductor lithography equipment (ASML), refined petroleum and natural gas, chemicals, pharmaceuticals, food and agricultural products, re-exports via Rotterdam
Top export markets: Germany (22.2%), Belgium (11.5%), France (7.6%), United Kingdom (6.3%), United States (4.9%)
IMF growth forecast: 1.5% in 2026, 1.3% in 2027
IMF inflation forecast: 2.9% in 2026, 2.8% in 2027
Currency: EUR
Freelancer tax: A self-employed person earning the average wage (EUR 69,380 a year) pays about 27.7% of it in income tax and social contributions (2026 rules)
Top income tax rate: 49.5%
Gold reserves: 612.5 tonnes (September 2026)
Energy self-sufficiency: 23% (2024)

Recent news

4 November 2026 Dutch inflation rises to 3.7% in October as energy costs climb CBS
CBS's flash estimate shows consumer prices 3.7% higher than a year earlier in October, up from 3.4%, while the EU-harmonised rate rose to 3.3% from 3.0%. Energy including motor fuel was 14.4% dearer, and prices of other goods also rose faster.
4 November 2026 Netherlands nominates former DNB chief Klaas Knot to succeed Lagarde at the ECB DutchNews
The Dutch government put forward Klaas Knot, who led De Nederlandsche Bank from 2011 to 2025, as its candidate for ECB president after Lagarde said she will leave early. He is seen as a front-runner, with Spain's Pablo Hernandez de Cos the main rival, and finance ministers confirm candidates next Monday.
3 November 2026 Jetten offers EUR 350m in sweeteners as the Dutch budget still lacks a majority DutchNews
With the coalition 10 seats short in the lower house, Jetten dropped a planned VAT rise on flower bulbs and added small sums for farming and the police to court smaller parties. Talks with the left- and right-wing opposition blocs have failed, and crucial votes are due next week.
30 October 2026 Dutch economy grows 0.6% in the third quarter, helped by trade and gas restocking CBS
CBS's first estimate shows GDP rose 0.6% from the second quarter, when growth was revised up to 0.7%, and 2.1% from a year earlier. A better trade balance and the refilling of natural gas reserves drove growth, while household and government spending each rose 0.4%.
26 October 2026 Dutch minority cabinet restarts budget talks with seven opposition parties DutchNews
The D66-VVD-CDA coalition needs at least two opposition parties to pass next year's budget. Having dropped planned welfare cuts, it must find money elsewhere, while left and right are split over taxing savings and investments (Box 3) and over asylum rules.
26 October 2026 Cabinet plans to cut 25,000 civil service jobs by 2035 to save EUR 3.5bn NL Times
State Secretary Eric van der Burg said about 16% of central government jobs will go, with some departments losing up to 60% of posts, alongside more digital services and less office space, to close a EUR 3.5bn budget gap.

Headlines and summaries are compiled daily from the linked reports with AI assistance.