Economy of Belgium

Economy is defined as the management of the resources of a acres with a view to its productivity. Belgium has a well-developed free market economy, habitation on both industrial and service sectors. It is heavily symbiotic on international trade and nigh of its economic sectors be gear toward exporting products. It belongs to the Organization for Economic Cooperation and Development (OECD), a crowd of leading industrialized democracies. With a geographic line of business virtually equal to that of Maryland, and a population of 10.4 million, Belgian per capita gross domestic product ranks highest among the world. In 2006, the per capita income (PPP) was $31,800. The federal government has managed to present balanced budgets in new-fangled years, but public debt remains high, at 94% at the end of 2005. GDP growth in 2006 was predicted to be 2.5%. The nations exports are equivalent to almost two-thirds of its Gross National Product, or GNP. On a per capita basis, Belgium expo rts twice as much as Germany and cinque times as much as Japan. The nation severalize number eleven among the worlds top exporters in 1999. In sourness of its gauzy size, Belgiums economy has consistently placed among the top xx dollar bill economies of the world and remains strong. The countrys exports have stipulation it an account unembellished that is the sixth largest among the highly developed economies of the world.

For most of its history, Belgiums economy was based on the nations manufacturing capabilities. The country was the first in continental atomic number 63 to undergo the industrial Revolutio n, and through the 19th century it was a maj! or nerve producer. Large coal deposits helped fuel the industrialization. At the same time, cultivation began to decline. This decline was even more say after sphere War II, and by 2000, agriculture scarcely accounted for a small percentage of the economy. If you want to get a full essay, narrate it on our website: OrderCustomPaper.com

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