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 imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium’s trade is with other EU countries. In 2009 Belgian GDP contracted by 2.7%, the unemployment rate rose slightly, and the budget deficit worsened because of large-scale bail-outs in the financial sector. Belgium’s budget deficit widened to 4.8% of GDP in 2010, while public debt was just over 100% of GDP. Belgian banks have been severely affected by the international financial crisis with three major banks receiving capital injections from the government. An ageing population and rising social expenditures are also increasing pressure on public finances, making it likely the government will need to implement unpopular austerity measures to assuage investor concerns about Belgium’s ability to restore fiscal balance.

$394.9 billion (2010 est.)

$388.7 billion (2009 est.)

$399.5 billion (2008 est.)

$461.3 billion (2010 est.)

1.6% (2010 est.)

-2.7% (2009 est.)

0.8% (2008 est.)

$37,900 (2010 est.)

$37,300 (2009 est.)

$38,400 (2008 est.)

5.02 million (2010 est.)

8.1% (2010 est.)

7.9% (2009 est.)

15.2% (2007 est.)

28 (2005)

28.7 (1996)

20.8% of GDP (2010 est.)

102.5% of GDP (2010 est.)

101% of GDP (2009 est.)

2.3% (2010 est.)

0% (2009 est.)

1.75% (31 December 2009)

3% (31 December 2008)

6.15% (31 December 2009 est.)

7.03% (31 December 2008 est.)

$172.9 billion (31 December 2010 est)

$178.7 billion (31 December 2009 est)

$539.4 billion (31 December 2010 est.)

$536.7 billion (31 December 2009 est.)

$801.1 billion (31 December 2009 est.)

$767.1 billion (31 December 2008 est.)

$261.4 billion (31 December 2009)

$167.4 billion (31 December 2008)

$386.4 billion (31 December 2007)

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

4% (2010 est.)

82.17 billion kWh (2007 est.)

84.88 billion kWh (2007 est.)

6.561 billion kWh (2008 est.)

17.16 billion kWh (2008 est.)

11,220 bbl/day (2009 est.)

608,200 bbl/day (2009 est.)

433,700 bbl/day (2008 est.)

1.12 million bbl/day (2008 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

16.87 billion cu m (2009 est.)

0 cu m (2008 est.)

16.78 billion cu m (2009 est.)

0 cu m (1 January 2010 est.)

-$1.129 billion (2010 est.)

$1.251 billion (2009 est.)

$279.2 billion (2010 est.)

$261.1 billion (2009 est.)

machinery and equipment, chemicals, finished diamonds, metals and metal products, foodstuffs

Germany 19.58%, France 17.71%, Netherlands 11.84%, UK 7.21%, US 5.37%, Italy 4.77% (2009)

$281.7 billion (2010 est.)

$261.3 billion (2009 est.)

raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, oil products

Netherlands 17.93%, Germany 17.14%, France 11.69%, Ireland 6.26%, US 5.74%, UK 5.07%, China 4.09% (2009)

$NA (31 December 2010 est.)

$23.98 billion (31 December 2009 est.)

$1.241 trillion (30 June 2010)

$1.354 trillion (31 December 2008)

$741.7 billion (31 December 2010 est.)

$705.2 billion (31 December 2009 est.)

$632.8 billion (31 December 2010 est.)

$595.8 billion (31 December 2009 est.)

euros (EUR) per US dollar - 0.7715 (2010), 0.7179 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006)