Economy of Belgium

Economy is defined as the management of the resources of a artless with a view to its productivity. Belgium has a well-developed free market economy, constitute on both industrial and service sectors. It is heavily hooklike on international trade and more or less 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 theater 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 argon equivalent to almost two-thirds of its Gross National Product, or GNP. On a per capita basis, Belgium exp orts twice as much as Germany and quintette times as much as Japan. The nation separate number eleven among the worlds top exporters in 1999. In virulence of its atomic size, Belgiums economy has consistently placed among the top twenty dollar bill economies of the world and remains strong. The countrys exports have devoted 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 Revo lution, and through the 19th century it was ! a major brand producer. Large coal deposits helped fuel the industrialization. At the same time, horticulture began to decline. This decline was even more say after humanness War II, and by 2000, agriculture scarcely accounted for a small percentage of the economy. If you want to get a full essay, localise it on our website: OrderCustomPaper.com

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