The Netherlands has a prosperous and open economy in which the government has reduced its role since the 1980s. Industrial activity is predominantly in food-processing (Unilever, Heineken), financial services (ING), chemicals (DSM), petroleum refining (Shell), and electrical machinery (Philips, ASML).
The Netherlands has the 16th largest economy in the world, and ranks 7th in GDP (nominal) per capita. Between 1998 and 2000 annual economic growth (GDP) averaged nearly 4%, well above the European average. Growth slowed considerably from 2001 to 2005 with the global economic slowdown, but accelerated to 4.1% in the third quarter of 2007. Inflation is 1.3%, and unemployment is at 4.0% of the labour force. By Eurostat standards, unemployment in the Netherlands is at 4.1% (April 2010) - the lowest rate of all European Union member states.[36] The Netherlands also has a relatively low GINI coefficient of 0.326. Despite ranking only 7th in GDP per capita, UNICEF ranked the Netherlands 1st in child well-being.[37] On the Index of Economic Freedom Netherlands is the 13th most free market capitalist economy out of 157 surveyed countries.
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