WASHINGTON--()--A new report by the Royal Netherlands Embassy shows the continuing strength of the economic ties between the United States and the Netherlands supported nearly 680,000 American jobs in 2011, an increase of 9 percent from the previous year.
“This agreement will be crucial to the continued growth of both our economies”
The report, Economic Ties Between the USA and the Netherlands, A Partnership that Works, also shows a mutual and steady faith in both countries’ economies, as both Dutch and American businesses continue to invest in both countries.
These tangible ties between Pennsylvania and the Netherlands resulted in a 5% increase in jobs and 8% increase in Dutch Foreign Direct Investment in Pennsylvania, while Pennsylvania had a 29% increase in exports to the Netherlands.
Dutch investment and Pennsylvania’s exports to the Netherlands supported 45,912 jobs in the Keystone State. This figure equals the population of York, PA. The Netherlands was the 6th largest foreign investor with $2.6 billion in 2011, which amounted to 5.1% of total foreign direct investment. The Netherlands’ was Pennsylvania’s 7th largest export market. In 2011, the state exported $1.4 billion in goods (mostly petroleum and coal products) to the Netherlands. Imports from the Netherlands totaled $819.3 million. Chemical goods accounted for 36% of Pennsylvania’s imports from the Netherlands.
“De Lage Landen, a fully owned subsidiary of Rabobank Group, is happy to call Pennsylvania home for our U.S. headquarters since 1999,” said Carlo van Kemenade, Managing Director, The Americas. “Our Wayne office employs roughly 1,000 members who support our asset-based financing programs for equipment manufacturers all over the world, as well as dealers and distributors in the U.S. Our U.S. team is not only a major driver of our financial success, but also a responsible business partner in the local area with a focus on sustainability and community involvement.”
Dutch roots also extend to Pennsylvania’s demographics, where 248,835 people are of Dutch descent. Companies such as Akzo Nobel, American Beverage Corporation, DSM, and ING are a few of the Dutch businesses based in Pennsylvania.
“As the global economy continues on the road to financial recovery, our Economic Ties report proves that durable, bilateral ties consistently yield results for both nations,” stated Stephen Raes, Minister of the Economic Department of the Royal Netherlands Embassy. “Imagine how much stronger these ties can be when the US and European Union establish a Transatlantic Trade and Investment Partnership.”
The United States and the European Union, of which the Netherlands is a key nation, recently announced the start of negotiations on a Transatlantic Trade and Investment Partnership. The Netherlands strongly supports such a partnership.
“This agreement will be crucial to the continued growth of both our economies,” said Ambassador Rudolf Bekink. “The numbers in our Economic Ties report can be the seeds to the bountiful trade opportunities that will open up. In nearly every critical trade indicator, such as goods and services imported and exported to each country, the Dutch-US economic ties saw increases.”
Investment from and trade with the Netherlands creates dividends on both sides of the Atlantic. Economic Ties reveals:
- The Netherlands retained its place as the third largest foreign investor in the United States, where Dutch investment in American companies amounted to $240 billion.
- American companies increased their investment in the Netherlands to $595 billion, making the Netherlands the United States’ largest destination country of US foreign direct investment.
- The trade exchange of goods and services between the Netherlands and the United States increased to $81 billion, a 26% increase from 2010.
More than 850 Dutch companies called the United States home in 2011. Economic Ties illustrates their impact and gives a national and state-by-state analysis of the Dutch-US economic relationship. While this relationship can be seen in virtually every state in the US, Texas, California and Pennsylvania are the top three states where Dutch investment supports the most jobs. Texas and California also lead the states with the most Dutch foreign direct investment. Additionally, they also top the list of states that export the most goods and services to the Netherlands.
The Top 5 States/Territories for Jobs, FDI and Exports to the Netherlands
|Top 5 Jobs 2011||Top 5 Dutch FDI 2011||Top 5 Exports to the Netherlands 2011|
|Share*||billion USD||Share**||billion USD|
|1. Texas||98,271||1. Texas||7.7%||12.6||1. Texas||3.5%||8.8|
|2. California||63,278||2. California||5.3%||7.4||2. California||2.9%||4.6|
|3. Pennsylvania||45,912||3. Massachusetts||11.4%||3.9||3. Louisiana||5.7%||3.1|
|4. New York||42,881||4. New York||3.6%||3.7||4. Puerto Rico||13.8%||2.5|
|5.Massachusetts||39,743||5. Connecticut||16.1%||2.8||5. New York||2.6%||2.2|
|* This represents the share of Dutch FDI in total FDI for each state|
|** This represents the share of each state's foreign exports|
Statistics in Economic Ties are based on: the U.S. Department of Commerce’s Bureau of the Census, the U.S. Department of Commerce’s Bureau of Economic Analysis and the U.S. Department of Commerce’s International Trade Administration.
For more than 400 years, the Netherlands and the United States have been joined by the values of freedom, justice and an entrepreneurial spirit. A vibrant economic force, the Netherlands is also the third largest investor in America and a reliable trade and investment partner to the U.S. The Royal Netherlands Embassy, Dutch Consulates General and Honorary Consuls in the U.S. promote strong bilateral relations between the United States and the Netherlands in the areas of peace and stability; international law; energy and climate; water management; international human rights; and creative industries. The Netherlands and the United States: Two countries, one spirit united by values, history and a vision of the future.
More information: Key Topics - The Royal Netherlands Embassy in Washington DC
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