Featured statistic: USD 16 billion

Date 12 December 2006

At end-September 2006, oil-exporting countries’ deposits with banks in the Netherlands totalled almost USD 16 billion.

Chart Total deposits of oil exporting countries held with banks in the Netherlands

In the past decade, these deposits have grown substantially (nearly fivefold). Many oil-exporting countries have deposited their increased amount of petrodollars with foreign banks. 

Deposits of the OPEC countries outstanding in theNetherlandstotal over USD 10 billion, the vast majority of which (more than two-thirds) are denominated in US dollars. In recent years, primarily deposits fromLibyaandRussia(a non-OPEC country) have surged, each country holding about USD 2.5 billion in deposits in theNetherlands.  

By holding deposits in theNetherlands, oil-exporting countries (the OPEC countries in particular) are increasingly providing the Dutch banking system with liquidity.