| Economy - overview | This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP grew by 1.8%, the unemployment rate decreased slightly to 7.2% from 8.3% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 4.2% in 2011 and 3.3% in 2012. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank. |
| GDP (purchasing power parity) | $420.6 billion (2012 est.)
$420.5 billion (2011 est.)
$413.1 billion (2010 est.)
note: data are in 2012 US dollars |
| GDP (official exchange rate) | $476.8 billion (2012 est.) |
| GDP - real growth rate | 0% (2012 est.)
1.8% (2011 est.)
2.4% (2010 est.) |
| GDP - per capita (PPP) | $38,100 (2012 est.)
$38,400 (2011 est.)
$38,100 (2010 est.)
note: data are in 2012 US dollars |
| GDP - composition by sector | agriculture: 0.7%
industry: 22.3%
services: 77% (2012 est.) |
| Population below poverty line | 15.2% (2007 est.) |
| Labor force | 5.055 million (2012 est.) |
| Labor force - by occupation | agriculture: 2%
industry: 25%
services: 73% (2007 est.) |
| Unemployment rate | 7.6% (2012 est.)
7.2% (2011 est.) |
| Unemployment, youth ages 15-24 | total: 21.9%
male: 21.5%
female: 22.5% (2009) |
| Household income or consumption by percentage share | lowest 10%: 3.4%
highest 10%: 28.4% (2006) |
| Distribution of family income - Gini index | 28 (2005)
28.7 (1996) |
| Investment (gross fixed) | 22.1% of GDP (2012 est.) |
| Budget | revenues: $227.3 billion
expenditures: $243.2 billion (2012 est.) |
| Taxes and other revenues | 47.7% of GDP (2012 est.) |
| Budget surplus (+) or deficit (-) | -3.3% of GDP (2012 est.) |
| Public debt | 101.1% of GDP (2012 est.)
98% of GDP (2011 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment. debt instruments for the social funds are not sold at public auctions. |
| Inflation rate (consumer prices) | 2.4% (2012 est.)
3.5% (2011 est.) |
| Central bank discount rate | 1.5% (31 December 2012)
1.75% (31 December 2010)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area |
| Commercial bank prime lending rate | 4.3% (31 December 2012 est.)
3.93% (31 December 2011 est.) |
| Stock of narrow money | $168.4 billion (31 December 2012 est.)
$170.4 billion (31 December 2011 est.)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders |
| Stock of money | $NA
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money and quasi money circulating within their own borders |
| Stock of quasi money | $NA |
| Stock of broad money | $543.2 billion (31 December 2012 est.)
$547.2 billion (31 December 2011 est.) |
| Stock of domestic credit | $542.4 billion (31 December 2012 est.)
$559.2 billion (31 December 2011 est.) |
| Market value of publicly traded shares | $229.9 billion (31 December 2011)
$269.3 billion (31 December 2010)
$261.4 billion (31 December 2009) |
| Agriculture - products | sugar beets, fresh vegetables, fruits, grain, tobacco; beef, veal, pork, milk |
| Industries | engineering and metal products, motor vehicle assembly, transportation equipment, scientific instruments, processed food and beverages, chemicals, basic metals, textiles, glass, petroleum |
| Industrial production growth rate | 5.6% (2011 est.) |
| Current Account Balance | -$4.8 billion (2012 est.)
-$3.709 billion (2011 est.) |
| Exports | $314.6 billion (2012 est.)
$332.3 billion (2011 est.) |
| Exports - commodities | machinery and equipment, chemicals, finished diamonds, metals and metal products, foodstuffs |
| Exports - partners | Germany 18.7%, France 16.9%, Netherlands 12.5%, UK 7.2%, Italy 4.6%, US 4.5% (2011) |
| Imports | $325.2 billion (2012 est.)
$342.3 billion (2011 est.) |
| Imports - commodities | raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, oil products |
| Imports - partners | Netherlands 19.9%, Germany 15%, France 10.8%, UK 6%, US 5.3%, Ireland 4.5%, China 4.2% (2011) |
| Reserves of foreign exchange and gold | $29.43 billion (31 December 2011 est.)
$26.81 billion (2010 est.) |
| Debt - external | $1.399 trillion (30 June 2011)
$1.241 trillion (30 June 2010) |
| Stock of direct foreign investment - at home | $1.184 trillion (31 December 2012 est.)
$1.095 trillion (31 December 2011 est.) |
| Stock of direct foreign investment - abroad | $999.8 billion (31 December 2012 est.)
$951.1 billion (31 December 2011 est.) |
| Exchange rates | euros (EUR) per US dollar -
0.7838 (2012 est.)
0.7185 (2011 est.)
0.755 (2010 est.)
0.7198 (2009 est.)
0.6827 (2008 est.) |
| Fiscal year | calendar year |
