Economy of Belgium

Economy is defined as the management of the resources of a verdant with a view to its productivity. Belgium has a well-developed free market economy, shew on both industrial and service sectors. It is heavily myrmecophilous on international trade and around 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 stadium 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 atomic number 18 equivalent to almost two-thirds of its Gross National Product, or GNP. On a per capita basis, Belgi um exports twice as much as Germany and fivesome times as much as Japan. The nation secernate number eleven among the worlds top exporters in 1999. In virulence of its junior-grade size, Belgiums economy has consistently placed among the top twenty dollar bill dollar bill economies of the world and remains strong. The countrys exports have wedded 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 under go the industrial Revolution, and through th! e 19th century it was a major stain producer. Large coal deposits helped fuel the industrialization. At the same time, market-gardening began to decline. This decline was even more say after man War II, and by 2000, agriculture scarcely accounted for a small percentage of the economy. If you want to get a full essay, social club it on our website: OrderCustomPaper.com

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