Economy Overview
The government has pledged to pursue a reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes have generally made Belgian wages more competitive regionally, but risk worsening tensions with trade unions and triggering extended strikes.
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, pharmaceuticals, base metals, textiles, glass, petroleum
Industrial Production Growth Rate
2.2% (2016 est.)
Labor Force
5.291 million (2016 est.)
Labor Force by Occupation
Agriculture: 1.3%
Industry: 18.6%
Services: 80.1% (2013 est.)
Unemployment Rate
8.5% (2015 est.)
Population Below Poverty Line
15.1% (2013 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 3.4%
Highest 10%: 28.4% (2006)
Distribution of Family Income Gini Index
28.7 (1996)
Budget
Revenues: $236.9 billion
Expenditures: $249.1 billion (2016 est.)
Public Debt
106% of GDP (2015 est.)
Central Bank Discount Rate
0.3% (31 December 2010)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$181.6 billion (31 December 2015 est.)
Stock of Broad Money
$524.9 billion (31 December 2015 est.)
Stock of Domestic Credit
$661.2 billion (31 December 2015 est.)
Market Value of Publicly Traded Shares
$374.3 billion (31 December 2013 est.)
Reserves of Foreign Exchange and Gold
$24.1 billion (31 December 2015 est.)
Debt External
$1.214 trillion (31 March 2015 est.)
Stock of Direct Foreign Investment at Home
$1.034 trillion (31 December 2015 est.)
Stock of Direct Foreign Investment Abroad
$1.012 trillion (31 December 2015 est.)
Exchange Rates
0.7752 (2012 est.)
