Dutch household spending on nearly half of commonly used services or products is expected to go down in the wake of the coronavirus pandemic in 2020. This according to economic predictions from Dutch bank ING, based on the experiences the Canadian economy had in 2002/2003 with SARS. Even though ING does not mention explicitly how much Dutch expenses will go down (more that it will or not, hence the colors), it does provide a picture of how Canada's expenses responded almost 20 years earlier. The source chose Canada, as it was one of the Western economies that was struck relatively hard by the SARS pandemic. From that experience, the bank concludes, for example, that consumers bought more products in supermarkets in the first few months (February and March 2003) with expenses only going down around May 2003. Following this same pattern, and the potential effect of government measures in the Netherlands, the bank's economic model predicted that 46 percent of all household spending would be affected either in March directly or even in the following months of the COVID-19 outbreak.
Coronavirus (COVID-19) predicted impact on household spending on different products and services in the Netherlands as of March 2020
Red = predicted decrease, green = predicted increase, grey = stays virtually the same; Numbers concern the share in total domestic household spending in 2018; More detailed category explanations are found under the "Details" tab.
Supplementary notes
Numbers concern household spending in 2018, likely the latest available numbers when the source made its prediction. The source used and modified certain product groups as defined within the so-called SBI 2008, or Standard Industrial Classification, from the Dutch Bureau of Statistics (CBS).
Due to the graphic lay-out a simplified version of the source's categories was used. The original Dutch categories as listed by ING, and their full English translations (as close as was possible to the SBI 2008 definitions from CBS), were as follows:
1. Products and services with a decrease:
Maaltijd- en drankverstrekking (in English: Restaurant services)
Kleding en textiel (Clothing and textiles)
Motorbrandstoffen (Fuels)
Vervoermiddelen (Vehicles)
Diensten met betrekking tot recreatie (Recreational services)
Diensten met betrekking tot vervoer (Transportational services)
Logiesverstrekking (Hotel services)
Schoenen en lederwaren (Leather goods and shoes)
Diensten met betrekking tot cultuur (Cultural services)
Overige diensten (Other services), such as (vehicle) repairs, hairdressers and other personal services, education etc.
Woninginrichting en woningdecoratie (Home furnishing)
Elektrische apparatuur (Household appliances)
Overige duurzame goederen (Other durable consumer goods), such as books, optics, jewelry, watches, sports goods, toys, recreational goods etc.
Diensten met betrekking tot huis en tuin (Home and garden services)
2. Products and services with an increase
Medische diensten (Medical services)
Kruidenierswaren (Groceries)
Energie en water (Energy and water)
Aardappelen, groente en fruit (Potatoes, vegetables and fruit)
Vlees- en vleesproducten (Meat and meat products)
Brood, broodproducten, gebak en banket (Bread, rusk, bread products, confectionery
Zuivel, eieren, oliën en vetten (Dairy products, oils and fats
Alcoholvrije dranken (Alcoholic beverages)
Vis (Fish)
Financiële en zakelijke diensten (Financial and business services)
Diensten mbt vervoer en communicatie (Transport, communication services)
Alcoholhoudende dranken (Non-alcoholic beverages)
3. Products and services that stay virtually the same
Toegerekende huurwaarde eigen woning (Imputed rental value of owner-occupied housing)
Werkelijke huur (Real rent)
Overige goederen (Other goods not mentioned so far)
Producten voor persoonlijke verzorging (Personal care products)
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ING Economisch Bureau. (March 25, 2020). Coronavirus (COVID-19) predicted impact on household spending on different products and services in the Netherlands as of March 2020 [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1109139/coronavirus-impact-on-household-spending-in-the-netherlands/
ING Economisch Bureau. "Coronavirus (COVID-19) predicted impact on household spending on different products and services in the Netherlands as of March 2020." Chart. March 25, 2020. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1109139/coronavirus-impact-on-household-spending-in-the-netherlands/
ING Economisch Bureau. (2020). Coronavirus (COVID-19) predicted impact on household spending on different products and services in the Netherlands as of March 2020. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1109139/coronavirus-impact-on-household-spending-in-the-netherlands/
ING Economisch Bureau. "Coronavirus (Covid-19) Predicted Impact on Household Spending on Different Products and Services in The Netherlands as of March 2020." Statista, Statista Inc., 25 Mar 2020, https://www.statista.com/statistics/1109139/coronavirus-impact-on-household-spending-in-the-netherlands/
ING Economisch Bureau, Coronavirus (COVID-19) predicted impact on household spending on different products and services in the Netherlands as of March 2020 Statista, https://www.statista.com/statistics/1109139/coronavirus-impact-on-household-spending-in-the-netherlands/ (last visited November 22, 2024)
Coronavirus (COVID-19) predicted impact on household spending on different products and services in the Netherlands as of March 2020 [Graph], ING Economisch Bureau, March 25, 2020. [Online]. Available: https://www.statista.com/statistics/1109139/coronavirus-impact-on-household-spending-in-the-netherlands/
