Belgium economy driven by its foreign trade

Belgium has poor natural resource and is extremely difficult to start out a business there with no materials. So what they did was? Belgium started to import the raw materials and they processed it to finished goods, then they sold it on the markets.

This was the strategy adopted by Belgium to keep running the industrial sectors. But the surprising part about the Belgium economy was these finished goods which were made from imported raw materials driven industrial sector contributes 27% to the economy of Belgium.

The one of the main reason for these valuable contributions was its first-rate transport network.

Belgium has a tremendous transportation system the canals, docks, railroads, public road all connected to the industrial area for the faster transport of raw materials to the industry and also for the easy shipment of finished goods to the market.

World trade zone

The service sector of Belgium contributes 75% to the GDP of Belgium. As the world trade becomes the most important to accelerate the economy of Belgium. The prime factor for Belgium to become the trade zone of the world is it centralized geographic location; Belgium is located centrally at the Europe.

The other factors to attract the business persons from all over the world towards the trade zone of Belgium are skilled labors and multi lingual peoples.

Foreign investments

One third of Belgium trade is with European countries and now Belgium government seeking new ways to promote trade with other countries also. Foreign investments which yields and regulates employment to the citizens of Belgium are always welcomed by the Belgium government. Almost 10% of industries in Belgium are owned by foreigners and the majority of the companies are US based companies.

The GDP of Belgium economy was around $380 million and Belgium is the country which has highest GDP per capital in the world.