Management Of International Placement

Capital: Amsterdam
Population:16,407,000 (2006)
Official language: Dutch, Frisian
Time: GMT plus 1-2hr
Currency: Euro
Web Domain: .nl
Major religion: Christianity
International dialling code: +31

Economy

Overview: The Netherlands has a prosperous and open economy, which depends heavily on foreign trade. The economy is noted for stable industrial relations, moderate unemployment and inflation, a sizable current account surplus, and an important role as a European transportation hub.

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 Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002.

The country continues to be one of the leading European nations for attracting foreign direct investment. Economic growth slowed considerably in 2001-04, as part of the global economic slowdown, but for the four years before that, annual growth averaged nearly 4%, well above the EU average.

History

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 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 EEC (now the EU), and participated in the introduction of the euro in 1999.