note
on 1 January 1999, the EU introduced the euro as a common currency that is now being used by financial institutions in the Netherlands at a fixed rate of 2.20371 Netherlands guilders per euro and will replace the local currency for all transactions in 2002
The Netherlands is a prosperous and open economy depending heavily on foreign trade. The economy is noted for stable industrial relations, moderate 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 labor force but provides large surpluses for the food-processing industry and for exports. The Dutch rank third worldwide in value of agricultural exports, behind the US and France. The Dutch economy has expanded by 3% or more in each of the last four years and real GDP growth is likely to be about 3.6% in 2001. The government in 2001 will implement its most comprehensive tax reform since World War II, designed to reduce high income tax levels and redirect the fiscal burden onto consumption. The Dutch were among the first 11 EU countries establishing the euro currency zone on 1 January 1999.
Industry:
agroindustries, metal and engineering products, electrical machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing
Ethnicgroups:
Dutch 91%, Moroccans, Turks, and other 9% (1999 est.)
Vaccination requirements:
No vaccination requirements for any international traveller.
