The share of the Netherlands and the European Union in the total global economy has almost halved in the past 35 years.
This is mainly due to the strong growth of China and other emerging countries, reports the Central Bureau of Statistics (CBS) on Saturday.
In 1980 the Netherlands still accounted for 1.3 percent of the world economy, compared to 0.7 percent last year. Figures from the statistics agency show that the economies of all Western countries have grown in size in recent decades, but their relative importance has declined. The growth rate of, in particular, a number of Asian countries was much higher.
The share of China in 35 years grew from 2.4 to 16.6 percent. The economy of China is now more than 22 times as large as that of the Netherlands. In 1980 the Chinese economy was not even twice as big as ours.
The share of the countries that currently belong to the EU fell from 30 to 17 percent in the period under review. The United States also saw their economic importance drop between 1980 and 2014, but the decline from 22 to 16 per cent was far less robust than in Europe.
China is not the only country in Asia that has experienced strong growth, according to Statistics Netherlands. The share of all Asian emerging economies grew from 9 to 30 percent. In addition, the importance of Japan and South Korea is not even taken into account.
Despite the strong growth of the economy, the level of prosperity in China is still much lower than in the Netherlands when the gross domestic product (GDP) per capita is considered. Chinese per capita GDP is only a quarter of that in the Netherlands.
The Dutch GDP per capita was around 39,000 euros last year. The EU is on average 23 percent below. With Ireland, the Netherlands is even more at the top European level, and it only has to tolerate Luxembourg above itself.