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Economic Overview of - Belgium

 
This modern, private-enterprise economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the populous Flemish area in the north. With few natural resources, Belgium must import substantial quantities of raw materials and export a large volume of manufactures, making its economy unusually dependent on the state of world markets. Roughly three-quarters of its trade is with other EU countries. Public debt is more than 80% of GDP. On the positive side, the government succeeded in balancing its budget during the 2000-2008 period, and income distribution is relatively equal. Belgium began circulating the euro currency in January 2002. Economic growth and foreign direct investment dropped in 2008. In 2009 Belgium is likely to have negative growth, growing unemployment, and a 3% budget deficit, stemming from the worldwide banking crisis.
$390.5 billion (2008 est.)
country comparison to the world: 30
$385.5 billion (2007)
$375.7 billion (2006)
note: data are in 2008 US dollars
$495.4 billion (2008)
1.3% (2008)
country comparison to the world: 179
2.6% (2007 est.)
3% (2006 est.)
$37,500 (2008 est.)
country comparison to the world: 27
$37,100 (2007 est.)
$36,200 (2006 est.)
note: data are in 2008 US dollars
agriculture: 1%
industry: 24.2%
services: 74.9% (2008 est.)
4.99 million (2008)
country comparison to the world: 72
agriculture: 2%
industry: 25%
services: 73% (2007 est.)
6.5% (2008)
country comparison to the world: 83
7.5% (2007 est.)
15.2% (2007 est.)
lowest 10%: 3.4%
highest 10%: 28.4% (2000)
28 (2005)
country comparison to the world: 121
21.3% of GDP (2008 est.)
country comparison to the world: 89
revenues: $251.3 billion
expenditures: $254.2 billion (2008 est.)
80.8% of GDP (2008)
country comparison to the world: 12
4.5% (2008)
country comparison to the world: 76
1.8% (2007 est.)
4%
country comparison to the world: 119
note: this is the European Central Bank`s rate on the marginal lending facility, which offers overnight credit to banks in the euro area
2.1% (30 January 2009)
country comparison to the world: 162
$953.6 million
country comparison to the world: 126
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money and quasi money circulating within their own borders (31 December 2007)
NA
$767.7 billion (31 December 2007)
country comparison to the world: 19
$386.4 billion (31 December 2007)
country comparison to the world: 24
sugar beets, fresh vegetables, fruits, grain, tobacco; beef, veal, pork, milk
engineering and metal products, motor vehicle assembly, transportation equipment, scientific instruments, processed food and beverages, chemicals, basic metals, textiles, glass, petroleum
2% (2008 est.)
country comparison to the world: 120
82.94 billion kWh (2007 est.)
country comparison to the world: 34
85.54 billion kWh (2006 est.)
country comparison to the world: 33
9.035 billion kWh (2007 est.)
15.78 billion kWh (2007 est.)
8,671 bbl/day (2007 est.)
country comparison to the world: 85
628,500 bbl/day (2007 est.)
country comparison to the world: 27
528,700 bbl/day (2005)
country comparison to the world: 29
1.119 million bbl/day (2005)
country comparison to the world: 15
0 bbl (1 January 2006 est.)
country comparison to the world: 192
0 cu m (2007 est.)
country comparison to the world: 95
17.39 billion cu m (2007 est.)
country comparison to the world: 37
0 cu m (2007 est.)
country comparison to the world: 51
17.34 billion cu m (2007 est.)
country comparison to the world: 14
0 cu m (1 January 2006)
country comparison to the world: 106
$3.972 billion (2008 est.)
country comparison to the world: 35
$372.9 billion f.o.b. (2008 est.)
country comparison to the world: 13
machinery and equipment, chemicals, finished diamonds, metals and metal products, foodstuffs
Germany 19.5%, France 16.7%, Netherlands 11.9%, UK 7.6%, US 5.7%, Italy 5.2% (2007)
$375.2 billion f.o.b. (2008 est.)
country comparison to the world: 14
raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, oil products
Germany 17.7%, Netherlands 17.6%, France 11.2%, UK 6.2%, US 5.4%, Ireland 4.9%, China 4.1% (2007)
$16.51 billion (2007 est.)
country comparison to the world: 58
$1.313 trillion (30 June 2007)
country comparison to the world: 10
$733.9 billion (2008 est.)
country comparison to the world: 7
$581.9 billion (2008 est.)
country comparison to the world: 10
euros (EUR) per US dollar - 0.6827 (2008), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004)
 
 
 
 
 
 
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