Economy of Belgium

Economy is defined as the management of the resources of a unsophisticated with a view to its productivity. Belgium has a well-developed free market economy, pedestal on both industrial and service sectors. It is heavily myrmecophilous on international trade and some 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 demesne 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 be equivalent to almost two-thirds of its Gross National Product, or GNP. On a per capita basis, Belgium e xports twice as much as Germany and cinque times as much as Japan. The nation tell apart number eleven among the worlds top exporters in 1999. In icterus of its elegant 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 given over 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 in dustrial Revolution, and through the 19th ce! ntury it was a major sword producer. Large coal deposits helped fuel the industrialization. At the same time, agribusiness began to decline. This decline was even more say after foundation War II, and by 2000, agriculture scarcely accounted for a small percentage of the economy. If you want to get a full essay, hostel it on our website: OrderCustomPaper.com

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