The Netherlands' economy returned to expansion in the fourth quarter after contracting in the previous quarter, largely led by a favourable trade balance and increased household consumption, preliminary data from the Central Bureau of Statistics showed on Tuesday.
Gross domestic product advanced 0.6 percent sequentially in the December quarter, reversing a 0.2 percent fall in the third quarter, which was the first contraction since early 2021.
Economists were looking for a 0.1 percent fall for the final quarter of 2022.
During the fourth quarter, the trade balance and household consumption contributed most to growth, the agency said.
On the expenditure-side, household consumption grew 0.9 percent, and government consumption was 0.4 percent higher compared to the third quarter.
The trade balance also made a positive contribution in the fourth quarter, as exports climbed 2.4 percent, and imports rose at a comparatively slower pace of 2.2 percent.
In 2022, the economy expanded 4.5 percent compared to a 4.9 percent growth in 2021. The overall increase was mainly due to higher household consumption and the increase in the trade balance.
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