The Dutch economy grew by 0.2% quarter-on-quarter in Q1 2026, revised up from an initial estimate of 0.1%, but down from 0.4% growth in Q4, marking the slowest pace of expansion in a year. The loss of momentum was largely due to weaker external demand: exports of goods and services declined by 0.2% after a 0.7% increase in the previous quarter, while imports inched up 0.1% for a second consecutive quarter.
In contrast, domestic demand remained robust. National final expenditure rose by 0.5%, rebounding from a 0.1% decline in Q4. Household consumption increased by 0.3% after stagnating in the previous quarter, government spending grew by 0.7%, and gross fixed capital formation strengthened to 0.7% from 0.1%, supported by higher investment from businesses, households, and the public sector. Changes in inventories were unchanged at -0.2% of GDP.
On an annual basis, GDP expanded by 1.4%, revised up from the preliminary estimate of 1.2%, but easing from 1.8% recorded in the previous period.
