Economy

Key facts
*  Currency: the €uro

    GDP: $493.7 billion (est 2017)

*  GDP per capita:  €46,600 (est 2017)
*  Unemployment: 5.1% (August 2020)
*  Inflation: 0.9% (Sept 2020)

Industries and exports
*  Economy dynamic in Flanders, lagging behind in Wallonia
*  Heavily service oriented
*  Steel and Chemicals production in Sambre and Meuse valleys
*  Antwerp main port
    Petrochemical industry near Antwerp oil refineries

*  Textile production – important since the Middle Ages – cotton, linen, wool, carpets, blankets – Ghent, Kortrijke, Tournai
*  Lace making – Brussels, Mechelen, Bruges
*  Diamond cutting – Antwerp
*  Exports – transportation equipment, diamonds, foodstuffs, chemicals.
    Main trading partners – within EU.
*  Transport: dense railroad system. Network of canals.

Exports to Germany 16.6%, France 14.9%, Netherlands 12.0%, UK 8.4%, Italy 4.9% 2017)

Lace from Bruges
Belgian fine lace