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 2.0%, the unemployment rate decreased slightly to 7.7% 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. Despite the relative improvement in Belgium's budget deficit, public debt hovers near 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 arm of a Franco-Belgian bank. An ageing population and rising social expenditures are mid- to long-term challenges to public finances.

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.

This is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area

$170.4 billion (31 December 2011 est.)

$175.3 billion (31 December 2010 est.)

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

$562.7 billion (31 December 2011 est.)

$548.2 billion (31 December 2010 est.)

$576.6 billion (31 December 2011 est.)

$555.7 billion (31 December 2010 est.)

$229.9 billion (31 December 2011)

$269.3 billion (31 December 2010)

$261.4 billion (31 December 2009)

Sugar beets, fresh vegetables, fruits, grain, tobacco; beef, veal, pork, milk

Engineering and metal products, motor vehicle assembly, transportation equipment, scientific instruments, processed food and beverages, chemicals, basic metals, textiles, glass, petroleum

1.007 million bbl/day (2009 est.)

Machinery and equipment, chemicals, finished diamonds, metals and metal products, foodstuffs

Germany 18.7%, France 16.9%, Netherlands 12.5%, UK 7.2%, Italy 4.6%, US 4.5% (2011)

Raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, oil products

Netherlands 19.9%, Germany 14.8%, France 10.7%, UK 6%, US 5.3%, Ireland 4.5%, China 4.2% (2011)

$29.43 billion (31 December 2011 est.)

$1.068 trillion (31 December 2011 est.)

$988.3 billion (31 December 2010 est.)

$943.5 billion (31 December 2011 est.)

$868.6 billion (31 December 2010 est.)