Netherlands
About Netherlands
Background:
The Dutch United Provinces declared their independence from Spain in 1579; during the 17th century, they became a leading seafaring and commercial power, with settlements and colonies around the world. After a 20-year French occupation, a Kingdom of the Netherlands was formed in 1815. In 1830 Belgium seceded and formed a separate kingdom. The Netherlands remained neutral in World War I, but suffered invasion and occupation by Germany in World War II. A modern, industrialized nation, the Netherlands is also a large exporter of agricultural products. The country was a founding member of NATO and the EEC (now the EU), and participated in the introduction of the euro in 1999.
PEOPLE
Population:
16,715,999 (July 2009 est.)
country comparison to the world: 59
Nationality:
noun: Dutchman(men), Dutchwoman(women)
adjective: Dutch
Ethnic groups:
Luxembourger 63.1%, Portuguese 13.3%, French 4.5%, Italian 4.3%, German 2.3%, other EU 7.3%, other 5.2% (2000 census)
Religions:
Roman Catholic 30%, Dutch Reformed 11%, Calvinist 6%, other Protestant 3%, Muslim 5.8%, other 2.2%, none 42% (2006)
Languages:
Dutch (official), Frisian (official)
GOVERNMENT
Country Name:
conventional long form: Kingdom of the Netherlands
conventional short form: Netherlands
local long form: Koninkrijk der Nederlanden
local short form: Nederland
Government type:
constitutional monarchy
Capital:
name: Amsterdam
geographic coordinates: 52 23 N, 4 54 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
note: The Hague is the seat of government; time descriptions apply to the continental Netherlands only, not to the Caribbean components
Independence:
23 January 1579 (the northern provinces of the Low Countries conclude the Union of Utrecht breaking with Spain; on 26 July 1581 they formally declared their independence with an Act of Abjuration; however, it was not until 30 January 1648 and the Peace of Westphalia that Spain recognized this independence)
Flag description:
three equal horizontal bands of red (top), white, and blue; similar to the flag of Luxembourg, which uses a lighter blue and is longer; the colors were those of WILLIAM I, Prince of Orange, who led the Dutch Revolt against Spanish sovereignty in the latter half of the 16th century; originally the upper band was orange, but because it tended to fade to red over time, the red shade was eventually made the permanent color; the banner is perhaps the oldest tricolor in continuous use
ECONOMY
Economy - overview:
The Netherlands economy is noted for stable industrial relations, moderate unemployment and inflation, a sizable current account surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The country has been one of the leading European nations for attracting foreign direct investment and is one of the four largest investors in the US. After 26 years of uninterrupted economic growth, the Netherlands' economy - which is highly open and dependent on foreign trade and financial services - was hard-hit by global economic crisis. Dutch GDP contracted 4.3% in 2009, while exports declined nearly 25% due to a sharp contraction in world demand. The Dutch financial sector has also suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In response to turmoil in financial markets, the government nationalized two banks and injected billions of dollars into a third, to prevent further systemic risk. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, have resulted in a government budget deficit of nearly 4.6% of GDP in 2009 that contrasts sharply with a surplus of 0.7% of GDP in 2008. With unemployment rising, the government of Prime Minister Jan Peter BALKENENDE is likely to come under increased pressure to keep the budget deficit in check while promoting economic recovery.
GDP (purchasing power parity):
$652.3 billion (2009 est.)
country comparison to the world: 22
$681.6 billion (2008 est.)
$668.3 billion (2007 est.)
note: data are in 2009 US dollars
GDP - per capita (PPP):
$39,000 (2009 est.)
country comparison to the world: 22
$40,900 (2008 est.)
$40,300 (2007 est.)
note: data are in 2009 US dollars
Budget:
revenues: $335.4 billion
expenditures: $372.5 billion (2009 est.)
Inflation rate (consumer prices):
1.2% (2009 est.)
country comparison to the world: 46
2.5% (2008 est.)
Industries:
agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing
Exports:
$397.6 billion (2009 est.)
country comparison to the world: 7
$531.7 billion (2008 est.)
Imports:
$358.9 billion (2009 est.)
country comparison to the world: 8
$474.8 billion (2008 est.)
Exchange rates:
euros (EUR) per US dollar - 0.7338 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005)
