Dutch industry has never produced as much as it does now. Not only ASML, but also the refineries are running at full capacity. Confidence is returning in many sectors. So is our industry not doomed after all?

The largest increase in production in four years. It was a headline you saw popping up in various media outlets this week, based on a report from Statistics Netherlands (CBS). Good news, of course, but as a reader, you’re not sure how to interpret it after years of being fed nothing but dismal reports. Are we finally climbing out of the rut we were in? Is this just the ASML effect?

The news is actually much better than that. Our industry is now producing more than ever, as can be seen from the CBS’s underlying database . If you look back twenty years, you’ll see a few clear setbacks, such as the credit crisis and the subsequent slow recovery during the euro crisis. The brief COVID-19 slump. And then the setback caused by the Russian invasion of Ukraine and rising energy prices.

While we were in that last slump, we began a public debate. Suddenly, there was an enemy at our doorstep on our eastern European border. Our BFF on the other side of the Atlantic turned out not to be as “forever” as we thought. And China was building an awe-inspiring industrial base that would blow us away. In a world where a geopolitical wildfire could flare up at any moment, we were hopelessly naive. Our industry was fair game for anyone who wished us ill.

But just look at this!

Not only are we producing more, but—without even realizing it—manufacturing has also become increasingly important to our economy. We thought we were transitioning to a service-based economy—which, of course, is partly true—but manufacturing is still claiming a slightly larger share of our economic pie. From a low of 9% in 2009 to 11% last year.

To put that 11% into perspective: The industry thus contributed 105 billion euros to our economy (GDP). That is (slightly) more than the financial sector (50 billion) and the ICT sector (47 billion) combined.

Where is that growth coming from?

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