This illustrates that the Dutch economy has acquired a kind of boom-bust character, which indicates a more volatile cyclical growth pattern. Another indication is given by the rise in the standard deviation of growth rates. This measure of volatility has almost doubled over the last four years, compared to the four years before.
For a significant part, the comparative strength of the upturn and the severity of the downturn in the Netherlands can be attributed to the open character of the Dutch economy. The spectacular growth of world trade since 1995 and the declining exchange rate of the euro have boosted exports.