Netherlands' economic recession eased in the first quarter, with gross domestic product (GDP) declining at a slower rate than in the previous quarter, preliminary data released by the Central Bureau of Statistics showed Wednesday.
The GDP dropped a seasonally adjusted 0.1 percent quarter-over-quarter in the first quarter, slower than the 0.4 percent fall seen in the fourth quarter. The rate of decline in the latest period matched economists' expectations.
Compared to the first quarter of 2012, the unadjusted GDP fell 1.7 percent during the three months ended March, after dropping 1.2 percent in the December quarter.
Final consumption expenditure dropped 1.7 percent annually, and investments in fixed assets fell by 11.6 percent. Meanwhile, there was a 2.3 percent year-on-year rise in exports and imports.
Separately, the agency said exports from the Netherlands decreased a calendar-adjusted 1.6 percent year-on-year to EUR37.6 billion in March.
The value of imports fell by 3.8 percent annually to EUR32.6 billion. The net trade resulted in a surplus of EUR 4.9 billion, which was higher by EUR0.7 billion than a year earlier.
Further, the statistical office said that the country's unemployment rate increased to 8.2 percent in April from 8.1 percent in March. In April last year, the jobless rate was 6.2 percent.
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