The Dutch economy unexpectedly recorded negative quarter-on-quarter growth of 0.7 percent in the first three months of 2023, while most neighboring countries saw positive growth.
The economies of Belgium and France grew by 0.4 percent and 0.2 percent, respectively, in the first quarter of 2023 compared to the previous quarter. The economy of the United Kingdom grew by 0.1 percent, while that of Germany stagnated.
The Dutch economy’s contraction was mainly due to a fall in the trade balance and to greater withdrawals from stocks, especially through the demand for gas, according to the CBS.
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