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THE NETHERLANDS
Year of EU entry Founding member
Political system Constitutional monarchy
Capital city Amsterdam
Total area 41,864 km2
Population 16.2 million
Currency euro |
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Overview
The Netherlands, as the name indicates, is low-lying territory, with one-third of the country at or below sea level. Many areas are protected from flooding by dykes and sea walls. Much land has been reclaimed from the sea, the Flevoland polder being the most recent example.
The Dutch Parliament (or Staten Generaal) consists of two chambers. The first with 75 members is indirectly elected and has limited powers. The second chamber, or lower house, is directly elected and controls the government. Members of both houses serve a four-year term. Given the balance among Dutch political parties, all governments are coalitions.
Industrial activity is predominantly in food processing, chemicals, petroleum refining, electrical and electronic machinery. It has a dynamic agricultural sector. The port of Rotterdam is the busiest in Europe, serving a vast hinterland which stretches into Germany and central Europe.
The Netherlands has a history of great painters. The 17th century was the age of the Dutch Masters, such as Rembrandt van Rijn, Johannes Vermeer and Jan Steen. The 19th and 20th centuries are no less remarkable for their high-calibre artists like Vincent van Gogh and Piet Mondriaan.
Well-known Dutch specialities include raw herring, smoked eel and pea soup, not forgetting Dutch cheeses such as Edam or Gouda.
Economy
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 mechanised agricultural sector employs no more than 2% 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 2001-05, as part of the global economic slowdown, but for the four years before that, annual growth averaged nearly 4%, well above the EU average.
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