Global GDP Growth: Overview
Inflation-adjusted base year prices are used to calculate real GDP. Real GDP changes serve as a gauge of economic growth and show whether the economic activity has increased or decreased. According to real GDP, the world's top five economies are the US, China, Japan, Germany, and India. After the US, China had the largest real GDP in 2021 with a value of $12.7 trillion. With a $6 trillion real GDP during the same period, Japan came in third place internationally. Germany and India are the other two largest economies, with real GDPs of $3.8 trillion and $2.9 trillion, respectively.
Netherlands Exports: Overview
According to Global Data, exports of the Netherlands grew by 4.8% in 2021, compared to the previous year, following a contraction on 7.8% in 2020 – a year when the COVID-19 pandemic ravaged economies around the world, particularly in the country's main export destination, the EU. The year 2021 recorded an export boost from higher-than-expected growth in the country’s main trading partners.
Nuclear reactors, boilers, machinery, and mechanical appliances’ share of total exports has remained somewhat volatile during 2018–2021, with its share decreasing slightly from 13.3% in 2018 to 13% in 2021. Mineral fuels and mineral oils’ share decreased from 13.8% in 2018 to 12.2% in 2021. Electrical machinery and equipment and parts thereof was the third largest export item in 2021, accounting for 10.1%.
The Netherlands’ accounted for 7.9% of the world’s nuclear reactors, boilers, machinery, and mechanical appliances exports in 2021, making the country the fifth largest exporter in the world. Germany, Belgium, and the US were the Netherlands’ top three trading partners in 2021; they accounted for 36.6% of total trade (exports and imports).
Netherlands Exports as a % of GDP
Exports as a % of GDP of Netherlands was 93.5% in 2021, while the Netherlands’ exports as a % of GDP decreased by 9.4% year on year basis in 2021, and between 2010-2021, the exports as a % of GDP in the Netherlands increased by 7.4%. The exports as a % of GDP were highest in the year 2019 at 107.1%, and lowest in the year 2010 at 87.0%.
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