The Netherlands is an industrialised and competitive market with a population of over 17 million. Its geographical position makes it an important hub for Europe’s transport. Known for its economic stability, it is one of the most open and outward looking economies in the world. It is the largest exporter in the EU and second largest globally. A trading nation of old, almost 80% of the country’s economy is based on foreign trade. In 2018, the country moved to sixth place in the IMD world competitiveness rankings.