Northern Ireland - Netherlands Trade and Export Society

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- NI-NL Trade and Export Society Events and Relevant Business News the message from the Dutch Bureau for Economic Policy Analysis (Dec 2016).

Household consumption is the main driving force behind the economic growth in the Netherlands. The disposable income of households will increase thanks to the ongoing rise in employment, in combination with real wage increases. The strong growth in the housing market forms an additional stimulus for consumption.

The decrease in unemployment of 2016 is projected to continue in 2017, when around 475,000 people are expected to be unemployed; which is 65,000 less than in 2016. Employment will increase next year by 120,000 people, following the 2016 increase of 100,000 meaning unemployment will decrease to 5.3%. This projected increase will mostly be due to companies in the market sector.

The international situation, however, remains uncertain. The consequences of Brexit, for now, appear less severe than expected, but the economic and political situation in the European Union continues to be uncertain.

For 2017, the projected increase in purchasing power of 0.7% is less strong than that of 2016. However, for both this year and 2017, GDP is projected to grow by 2.1% and in 2017, after many years of deficit, the budget will be balanced.