(guilder), on 1 January 1999, along with 15 other adopters of the Euro. Actual euro coins and banknotes followed on 1 January 2002. One euro was equivalent to 2.20371 Dutch guilders.
The Netherlands' location gives it prime access to markets in the UK and Germany, with the port of Rotterdam being the largest port in Europe. Other important parts of the economy are international trade (Dutch colonialism started with cooperative private enterprises such as the VOC), banking and transport. The Netherlands successfully addressed the issue of public finances and stagnating job growth long before its European partners. Amsterdam is the 5th busiest tourist destination in Europe with more than 4.2 million international visitors. Since the enlargement of the EU large numbers of migrant workers have arrived in the Netherlands from central and eastern Europe.
The country continues to be one of the leading European nations for attracting foreign direct investment and is one of the five largest investors in the United States. The economy experienced a slowdown in 2005, but in 2006 recovered to the fastest pace in six years on the back of increased exports and strong investment. The pace of job growth reached 10-year highs in 2007. The Netherlands moved up from the 11th position in the Global Competitiveness Index to the 9th position in 2007.
One of the largest natural gas fields in the world is situated near Slochteren. Exploitation of this field resulted in a total revenue of €159 billion since the mid 1970s. With just over half of the reserves used up and an expected continued rise in oil prices, the revenues over the next few decades are expected to be at least that much.
Agriculture
A highly mechanised agricultural sector employs 4% of the labour force but provides large surpluses for the food-processing industry and for exports. The Dutch rank third worldwide in value of agricultural exports, behind the United States and France,
