Economy - overview:
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.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Belgium on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Belgium Economy 2011 information contained here. All suggestions for corrections of any errors about Belgium Economy 2011 should be addressed to the CIA.
$394.9 billion (2010 est.)
country comparison to the world: 31
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$461.3 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
1.6% (2010 est.)
country comparison to the world: 162
[see also: GDP - real growth rate country ranks ]
$37,900 (2010 est.)
country comparison to the world: 28
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 0.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
22.1%
[see also: GDP - composition by sector - industry country ranks ]
services:
77.2% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
5.02 million (2009 est.)
country comparison to the world: 74
[see also: Labor force country ranks ]
agriculture: 2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
25%
[see also: Labor force - by occupation - industry country ranks ]
services:
73% (2007 est.)
[see also: Labor force - by occupation - services country ranks ]
8.1% (2010 est.)
country comparison to the world: 92
[see also: Unemployment rate country ranks ]
15.2% (2007 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 3.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
28.4% (2006)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
28 (2005)
country comparison to the world: 121
[see also: Distribution of family income - Gini index country ranks ]
20.8% of GDP (2009 est.)
country comparison to the world: 80
[see also: Investment (gross fixed) country ranks ]
revenues: $220.6 billion
[see also: Budget - revenues country ranks ]
expenditures:
$242.6 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
102.5% of GDP (2010 est.)
country comparison to the world: 9
[see also: Public debt country ranks ]
2.3% (2010 est.)
country comparison to the world: 69
[see also: Inflation rate (consumer prices) country ranks ]
1.75% (31 December 2009)
country comparison to the world: 113
note:
this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
[see also: Central bank discount rate country ranks ]
6.15% (31 December 2009 est.)
country comparison to the world: 129
[see also: Commercial bank prime lending rate country ranks ]
$172.9 billion (31 December 2010 est)
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 circulating within their own borders
[see also: Stock of narrow money country ranks ]
$539.4 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$801.1 billion (31 December 2009 est.)
country comparison to the world: 17
[see also: Stock of domestic credit country ranks ]
$261.4 billion (31 December 2009)
country comparison to the world: 27
[see also: Market value of publicly traded shares country ranks ]
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% (2009 est.)
country comparison to the world: 79
[see also: Industrial production growth rate country ranks ]
82.17 billion kWh (2007 est.)
country comparison to the world: 36
[see also: Electricity - production country ranks ]
84.88 billion kWh (2007 est.)
country comparison to the world: 33
[see also: Electricity - consumption country ranks ]
6.561 billion kWh (2008 est.)
[see also: Electricity - exports country ranks ]
17.16 billion kWh (2008 est.)
[see also: Electricity - imports country ranks ]
11,220 bbl/day (2009 est.)
country comparison to the world: 82
[see also: Oil - production country ranks ]
608,200 bbl/day (2009 est.)
country comparison to the world: 27
[see also: Oil - consumption country ranks ]
433,700 bbl/day (2008 est.)
country comparison to the world: 31
[see also: Oil - exports country ranks ]
1.12 million bbl/day (2008 est.)
country comparison to the world: 16
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 202
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 205
[see also: Natural gas - production country ranks ]
16.87 billion cu m (2009 est.)
country comparison to the world: 39
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 57
[see also: Natural gas - exports country ranks ]
16.78 billion cu m (2009 est.)
country comparison to the world: 14
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 203
[see also: Natural gas - proved reserves country ranks ]
-$1.129 billion (2010 est.)
country comparison to the world: 141
[see also: Current account balance country ranks ]
$279.2 billion (2010 est.)
country comparison to the world: 16
[see also: Exports country ranks ]
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.)
country comparison to the world: 17
[see also: Imports country ranks ]
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.)
[see also: Reserves of foreign exchange and gold country ranks ]
$1.241 trillion (30 June 2010)
country comparison to the world: 12
[see also: Debt - external country ranks ]
$741.7 billion (31 December 2010 est.)
country comparison to the world: 6
[see also: Stock of direct foreign investment - at home country ranks ]
$632.8 billion (31 December 2010 est.)
country comparison to the world: 10
[see also: Stock of direct foreign investment - abroad country ranks ]
euros (EUR) per US dollar - 0.7715 (2010), 0.7179 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006)
This page was last modified 09-Feb-11