The Dutch economy expanded by just 0.1% quarter-on-quarter in Q1 2026, after a downwardly revised 0.4% increase in the previous quarter and below the anticipated 0.2%, according to preliminary estimates. Growth was driven by public consumption, investment, and inventory accumulation, while net exports exerted a drag on overall performance.
Fixed investment rose by 0.7%, supported primarily by higher spending on aircraft and machinery. Public consumption increased by 0.5%, reflecting stronger outlays on healthcare and wages. Household consumption was flat over the quarter.
Externally, exports of goods and services declined by 0.6%. Goods exports fell 1.2%, with notable weakness in machinery and transport equipment, whereas services exports increased by 0.8%. Imports were unchanged. On a year-on-year basis, GDP grew by 1.2%, driven mainly by inventory changes and higher public consumption.
