Economy of Belgium
Economy of Belgium
Currency
Euro
Fiscal year
Calendar year
Trade
organisations
EU, WTO and OECD
Statistics
GDP
$376 billion (2007)
GDP growth
2.7% (2007)
GDP per capita $35,300 (2007 est.)
GDP by sector
agriculture (1.1%), industry
(24.5%), services (74.4%)
(2007 est.)
Inflation (CPI)
1.8% (2007 est.)
Population
below poverty
line
15.2% (2007 est.)
Labour force
4.96m (2007)
Labour force
by occupation
services (73%), industry
(25%), agriculture (2%)
(2007 est.)
Unemployment 7.5% (2007 est.)
Main
industries
engineering and metal
products, motor vehicle
assembly, processed food
and beverages, chemicals,
basic metals, textiles, glass,
petroleum
External
Exports
$269.6 billion f.o.b (2005)
Main export
partners
Germany 19.4%, France
17.3%, Netherlands 11.7%,
United Kingdom 8.2%,
United States 6.4%, Italy
5.3%(2005)
Imports
$264.5 billion f.o.b. (2005)
Main import
partners
Netherlands 17.8%,
Germany 17.2%, France
11.4%, United Kingdom
6.8%, Ireland 6.5%, United
States 5.4% (2005)
Gross External
Debt
€ 279.9 bn (94.3 % of GDP)
(2006)
Public finances
Public Debt
US$1.313 trillion (2007)
Revenues
$219.3 billion (2007 est.)
Expenses
$220.3 billion (2007 est.)
Economic aid
$1.978bn (2006)
All values, unless otherwise stated, are in US
dollars
The modern, private enterprise economy of
Belgium has capitalized on its central geo-
graphic location, highly developed transport
network, and diversified industrial and com-
mercial base. Industry is concentrated mainly
in the populous Flemish area in the north
(Flemish diamond), around Brussels and in
the 2 biggest Walloon cities : Liège and
Charleroi (Sillon industriel). 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. About three-quarters of its
trade is with other EU countries. Belgium be-
came a charter member of the Economic and
Monetary Union (EMU) in January 1999. The
dioxin crisis - beginning in June 1999 wi