What type of economy does belgium have?

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Krystal Okuneva asked a question: What type of economy does belgium have?
Asked By: Krystal Okuneva
Date created: Mon, Aug 2, 2021 10:20 AM
Date updated: Thu, Aug 4, 2022 10:24 AM

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Video answer: Gross domestic product

Gross domestic product

Top best answers to the question «What type of economy does belgium have»

  • Belgium has a free-enterprise economy, with the majority of the gross domestic product (GDP) generated by the service sector. The Belgian economy also is inextricably tied to that of Europe.
  • Belgium - Overview of economy. Belgium has a well-developed free market economy, based on both industrial and service sectors. It is heavily dependent on international trade and most of its economic sectors are geared toward exporting products. The nation's exports are equivalent to almost two-thirds of its GNP .
  • Belgium has a diverse modern capitalist economy with exports equating to over two-thirds of its annual GDP. According to the World Bank, its exports were over US$468 billion in 2018. It ranks 18th in the world in terms of GDP per capita, with an average household annual income of US$30,364.
  • Population: 11.5 million
  • GDP (PPP):$572.9 billion 1.4% growth 1.7% 5-year compound annual growth$54,545 per capita
  • Unemployment: 5.6%
  • Inflation (CPI): 1.2%
  • FDI Inflow:$9.7 billion
  • Economy of Belgium. Belgium has a free-enterprise economy, with the majority of the gross domestic product (GDP) generated by the service sector. The Belgian economy also is inextricably tied to that of Europe. The country has been a member of a variety of supranational organizations, including the Belgium-Luxembourg Economic Union (BLEU), the Benelux Economic Union, and the EU.

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