The Dutch economy is projected to grow by 1.3% in 2025, following a 0.8% growth in 2024, according to ING Research. This modest recovery is primarily driven by consumer spending, despite high inflation and rising prices.
The economy’s growth faces challenges due to high costs for wages, raw materials, and energy, coupled with labor shortages. ING anticipates a decrease in job vacancies, easing the tight labor market.
Geopolitical tensions persist, with newly elected U.S. President Donald Trump announcing import tariffs that could hinder Dutch exports to the U.S. However, ING suggests that the impact will be more significant on the U.S. economy itself due to increased import costs for American consumers.
Source: NOS