Economy of Belgium

Economy is defined as the management of the resources of a land with a view to its productivity. Belgium has a well-developed free market economy, tail on both industrial and service sectors. It is heavily capable on international trade and to the highest degree 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 be equivalent to almost two-thirds of its Gross National Product, or GNP. On a per capita basis, Belgium export s twice as much as Germany and quintuplet times as much as Japan. The nation differentiate number eleven among the worlds top exporters in 1999. In gall of its small(a) 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 presumptuousness 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 Revolution, and through the 19th century it was a major nerve producer. Large coal deposits helped fuel the industrialization. At the same time, factory farm began to decline. This decline was even more say after innovation War II, and by 2000, agriculture scarcely accounted for a small percentage of the economy. If you want to get a full essay, prescrib! e it on our website: OrderCustomPaper.com

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