The Dutch industrial sector saw a notable rebound in the second quarter, with total turnover rising by 8.4% compared to the same period last year—the strongest year-on-year increase since late 2022, according to data from Statistics Netherlands (CBS).
Oil prices drive headline growth
The oil and gas extraction segment delivered a remarkable 68.9% surge in turnover, reflecting elevated global energy prices. Excluding this powerhouse, overall industrial turnover still expanded, but at a more modest pace of 2.6%.
Performance across subsectors
- Manufacturing (excluding repair and installation): +9.4% year-on-year
- Manufacturing (excluding oil and gas extraction): +0.8%
- Repair and installation: –12.7%
Despite these gains, output volumes paint a more cautious picture. Total industrial production volumes slipped by 0.3% versus Q2 last year, while quarter-on-quarter turnover dipped by 1.1% between Q1 and Q2.
Outlook and challenges
Economists at CBS warn that the uplift from high oil prices may not be sustained. Energy-intensive producers continue to face supply chain disruptions and potential shifts in global demand. Excluding oil and gas extraction, the broader industrial sector remains on only a slight upward trajectory, with volumes under pressure heading into the second half of the year.