De Nederlandsche Bank (DNB) published balance of payments statistics showing the Netherlands’ current account balance was 9.9% of GDP in the first quarter of 2025, broadly unchanged from the same period a year earlier. Imports and exports of goods and services both increased, with a slightly higher goods trade surplus offset by weaker net income from abroad. Goods exports rose by EUR 8.4 billion while imports increased by EUR 4.4 billion, lifting the goods balance by EUR 4.0 billion, with growth recorded both within and outside the euro area. Services imports and exports each increased by almost EUR 5 billion, leaving the services balance roughly unchanged. The primary income balance was slightly negative at -EUR 0.7 billion, down EUR 2.6 billion year on year, reflecting lower net interest income: interest receipts were EUR 3.5 billion lower and payments EUR 1.4 billion lower, a net decline of EUR 2.1 billion. DNB noted the current account balance is a European Union Macroeconomic Imbalance Procedure indicator, for which a surplus above 6% of GDP may trigger further review. Alongside the first-quarter release, DNB revised earlier years’ figures based on newly available information. The current account balance for 2024 was revised to 9.1% of GDP from 9.9%, and the 2023 figure to 9.4% from 9.9%, mainly due to trade balance adjustments consistent with revised Statistics Netherlands figures.
De Nederlandsche Bank 2025-06-24
De Nederlandsche Bank reports Dutch current account surplus at 9.9% of GDP in Q1 2025 and revises 2023-2024 figures lower
De Nederlandsche Bank published balance of payments statistics showing the Netherlands' current account balance at 9.9% of GDP in Q1 2025, unchanged from the previous year. Goods exports rose by EUR 8.4 billion, while imports increased by EUR 4.4 billion, resulting in a EUR 4.0 billion increase in the goods balance. DNB revised previous years' figures, adjusting the 2024 current account balance to 9.1% of GDP and the 2023 figure to 9.4%, mainly due to trade adjustments.