About The Netherlands
Background: The 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 a brutal 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 EC, and participated in the introduction of the euro in 1999.
Location: Western Europe, bordering the North Sea, between Belgium and Germany.
Economy – overview: The Netherlands is a prosperous and open economy in which the government has successfully reduced its role since the 1980s. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs no more than 4% of the labour force but provides large surpluses for the food-processing industry and for exports. The Dutch rank third worldwide in value of agricultural exports, behind the US and France. The Netherlands successfully addressed the issue of public finances and stagnating job growth long before its European partners. This has helped cushion the economy from a slowdown in the euro area. Strong 3.8% GDP growth in 1998 was followed by an only slightly lower 3.4% expansion in 1999. The outlook remains favorable, with real GDP growth in 2000 projected at 3.25%, along with a small budget surplus. The Dutch were among the first 11 EU countries establishing the euro currency zone on 1 January 1999.
The Netherlands are one hour ahead of Greenwich Mean Time (GMT).
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