Member of: ADB, Benelux, BLEU, CCC, Council of Europe, DAC, EC, ECE,
ECOSOC, EIB, EMS, ESA, GATT, IAEA, IBRD, ICAC, ICAO, ICES, ICO, IDA,
IDB—Inter-American Development Bank, IEA, IFAD, IFC, ILO, ILZSG, IMF, IMO,
INTELSAT, INTERPOL, IOOC, IPU, ITC, ITU, NATO, OAS (observer), OECD, UN, UNESCO,
UPU, WEU, WHO, WIPO, WMO, WSG
Diplomatic representation: Ambassador Herman DEHENNIN; Chancery at 3330 Garfield Street NW, Washington DC 20008; telephone (202) 333-6900; there are Belgian Consulates General in Atlanta, Chicago, Houston, Los Angeles, and New York; US—Ambassador Maynard W. GLITMAN; Embassy at 27 Boulevard du Regent, B-1000 Brussels (mailing address is APO New York 09667); telephone [32] (2) 513-3830; there is a US Consulate General in Antwerp
Flag: three equal vertical bands of black (hoist side), yellow, and red; the design was based on the flag of France
- Economy Overview: This small private-enterprise economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the 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)