Forex News

GDP growth in the Netherlands improved in the second quarter

Economic growth in the Netherlands improved slightly in the three months to June, as evidenced by preliminary data from the Central Bureau of Statistics published on Tuesday.
Gross domestic product grew by 0.7 percent in the second quarter, slightly higher than the 0.6 percent growth recorded in the previous quarter. Meanwhile, it was expected that growth will remain stable at 0.6 percent.
The overall growth in the second quarter was mainly due to foreign trade and investment.
On an annualized basis, GDP growth increased from 2.8 percent in the first quarter to 2.9 percent in the second quarter.
In addition, the statistical office showed that the volume of exports decreased by 0.7 percent compared to the same period last year, after an increase of 4.6 percent in May. Moreover, the drop in the indicator is observed for the first time in four years.
In June, the volume of exports of oil, metals and chemical products was lower than the figure noted in the previous year.
Meanwhile, the volume of imports in June increased by 2.5 percent compared to last year.