The Netherlands Economy

Working abroad sounds like an adventure to many people. However, job search in the Netherlands requires more than just the obvious Netherlands CV writing and translation, it requires thorough preparation. You will experience problems that probably did not even come to your mind when you decided to get the Netherlands jobs.

Do not take too lightly the influence a job in the Netherlands can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and out of the ordinary management culture.

art_warning Netherlands EconomyMost visits to the Netherlands are trouble-free but you should be aware of the global risk of indiscriminate international terrorist attacks, which could be against civilian targets, including places frequented by foreigners.

Netherlands economy - overview: The Netherlands has a prosperous and open economy, which depends heavily on foreign trade. The Dutch economy is the fifth-largest economy in the euro-zone and 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 no more than 2% of the labor force but provides large surpluses for the food-processing industry and for exports.

The Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.9% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector.

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, resulted in a government budget deficit of 5.3% in 2010 that contrasted sharply with a surplus of 0.7% of GDP in 2008.

The government began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 4.2% of GDP.

Labor force - by occupation: agriculture 3%, industry 21%, services 76% (2005 est.)

Unemployment rate: 5.2% (2011 est.), 4.6% (2007 est.), 3% (2002 est.)

Natural resources: natural gas, petroleum, arable land

Industries: agro industries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing

euro_banknotes Netherlands EconomyCurrency: Euro (EUR; symbol €) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents

Credit/Debit Cards and ATMs: All major credit and debit cards are widely accepted. ATMs are widely available.

Traveler is Cheques: Widely accepted. To avoid additional exchange rate charges, travelers are advised to take traveler’s cheques in Euros, Pounds Sterling or US Dollars.

Exchange rates: Euros (EUR) per US dollar - 0.7107 (2011 est.), 0.755 (2010 est.), 0.7198 (2009 est.), 0.6827 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.06 (2002), 1.12 (2001), 1.09 (2000), 0.94 (1999)

Inflation rate (consumer prices): 2.3% (2011 est.), 2.6% (2008 est.)

Other Netherlands Economy Info

We hope that your Netherlands job search has been successful and you will get Netherlands visa too. So, if your Netherlands cover letter and Netherlands CV are ready, you may distribute them to your future employers and start preparing for a Netherlands job interview.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the Netherlands economy info!


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