he populous Flemish area in the north, although
the government is encouraging reinvestment in the southern region
of Walloon. With few natural resources Belgium must import essential raw
materials, making its economy closely dependent on the state of world
markets. In 1988 over 70% of trade was with other EC countries. During the
period 1986-88 the economy profited from falling oil prices and a lower
dollar, which helped to improve the terms of trade. Real GDP grew
by an average of 3.5% in 1986-89, up from 1.5% in 1985. However, a
large budget deficit and 10% unemployment cast a shadow on the
economy.

GDP: $136.0 billion, per capita $13,700; real growth rate 4.5%
(1989 est.)

Inflation rate (consumer prices): 3.6% (1989 est.)

Unemployment rate: 9.7% est. (1989 est.)

Budget: revenues $45.0 billion; expenditures $55.3 billion,
including capital expenditures of NA (1989)

Exports: $100.3 billion (f.o.b., 1989) Belgium-Luxembourg Economic
Union; commodities--iron and steel, transportation equipment,
tractors, diamonds, petroleum products;
partners--EC 74%, US 5%, Communist countries 2% (1988)

Imports: $100.1 billion (c.i.f., 1989) Belgium-Luxembourg Economic
Union; commodities--fuels, grains, chemicals, foodstuffs;
partners--EC 72%, US 5%, oil-exporting less developed countries 4%,
Communist countries 3% (1988)

External debt: $27.5 billion (1988)

Industrial production: growth rate 6.4% (1988)

Electricity: 17,325,000 kW capacity; 62,780 million kWh produced,
6,350 kWh per capita (1989)

Industries: engineering and metal products, processed food and beverages,
chemicals, basic metals, textiles, glass, petroleum, coal

Agriculture: accounts for 2% of GDP; emphasis on livestock
production--beef, veal, pork, milk; major crops are sugar beets, fresh
vegetables, fruits, grain, and tobacco; net importer of farm products

Aid: donor--ODA and OOF commitments (1970-87), $4.3 billion

Currency: Belgian franc (plural--francs); 1 Belgian franc (BF) = 100
centimes

Exchange rates: Belgian francs (BF) per US$1--35.468 (January 1990),
39.404 (1989), 36.768 (1988), 37.334 (1987), 44.672 (1986), 59.378 (1985)

Fiscal year: calendar year

- Communications
Railroads: Belgian National Railways (SNCB) operates 3,667 km
1.435-meter standard gauge, government owned; 2,563 km double track; 1,978 km
electrified; 191 km 1.000-meter gauge, government owned and operated

Highways: 103,396 km total; 1,317 km limited access,