BELGIUM

Presented by

Hareesh Borigi(12010221035).

DEMOGRAPHICS

Population:10,444,268 (July 2013 est.) Age structure:0-14 years: 15.7% (male 835,569/female 801,959) 

15-24 years: 11.8% (male 629,753/female 603,550) 25-54 years: 40.6% (male 2,145,075/female 2,100,014) 55-64 years: 13.2% (male 681,946/female 695,188) 65 years and over: 18.7% (male 819,694/female 1,131,520) (2013 est.)

Median age: total: 42.8 years  male: 41.5 years  female: 44.2 years (2013 est.).

Population growth rate0.05% (2013 est.) Birth rate10 births/1,000 population (2013 est.) Death rate10.7 deaths/1,000 population (2013 est.)

ECONOMIC INDICATORS OF BELGIUM

SOURCE: Countryeconomy.com

CURRENCY CONVERSIONS

1 euro = 1.36 us dollar. 1 euro = 83.8 INR.

BACKGROUND OF BELGIUM

Political background:

With a population of 10.4 million people in a territory comparable to the state of Maryland, Belgium is a densely populated country, sitting on the cultural and linguistic border of Germanic and Latin Europe. 

In December 2011, the new Di Rupo government came to power, after 540 days of political stalemate.

The Belgian capital of Brussels is home to the headquarters of the European Union (EU) and of the North Atlantic Treaty Organization (NATO), as well as hundreds of international institutions, associations and multinational corporations.

MARKET OVERVIEW

Belgium enjoys one of the highest per capita incomes in Europe, with a relatively balanced income distribution, resulting in widely-spread purchasing power.

The U.S. ranks as Belgium’s 5th principal trading partner; with Belgium ranked 18th for largest U.S. trading partner.

Bilateral trade was worth over $41 billion for the year 2010. Moreover is Belgium successful in the international rankings.

-       TI Corruption Perceptions Index 2011, Rank 19

-       Heritage Economic Freedom Index 2011, Rank 32

-       World Bank Doing Business 2012, Rank 28

MARKET ENTRY

Exporters can penetrate the Belgian market through importers/distributors, wholesalers or specialized retailers, depending on their products and their company size. 

Interested exporters will have to focus on innovation, quality and competitive pricing to successfully penetrate the market. 

Belgium is a highly competitive market in which the Belgian importer is looking for the best quality at the lowest price. 

 It is important to remember that while Belgium is a significant market in its own right, it is also the country of entry for many imports originating from many countries, with final destinations all throughout Europe. 

INVESTING IN BELGIUM Potential investors: Getting Started 

If you are considering investment in Belgium, here are some steps you may wish to consider as you get started:

Register with the U.S. Embassy – If you are planning a visit to consider investment, let us know by sending an email to the contact addresses on this page.

Visit host country resources, such as Foreign Investment Offices:    •    Invest in Wallonia     •    Flanders Investment & Trade (FIT)    •    Brussels Enterprise Agency (BEA) 

Contact local U.S. business support organizations, such as the American Chamber of Commerce in Belgium or American Chamber of Commerce to the European Union. 

Subscribe to our embassy Facebook page or Twitter feed.

CONTINUED

Current investors: Staying Connected If you are a current U.S. investor in Belgium, the

U.S Embassy wants to stay in touch. Here are a few steps you can take to keep the channels of communication open:

Register with the U.S. Embassy – If you are active in Belgium, let us know by sending an email to the contact addresses on this page.

Add us to your mailing lists – we are always happy to stay informed

Subscribe to our embassy Facebook page or Twitter feed

Set up a meeting with our economic or commercial team to discuss any issues that arise

INVESTMENT CLIMATE

Belgium has traditionally maintained an open economy, highly dependent on international trade for its well-being.

Since WWII, foreign investment has played a vital role in the Belgian economy, providing technology and employment. 

Both the federal and the regional governments encourage foreign investment on a national treatment basis. 

Belgium's legal system is independent of the government and is a means for resolving commercial disputes or protecting property rights. Belgium is a member of the International Center for the Settlement of Investment Disputes (ICSID) and regularly includes provision for ICSID arbitration in investment agreements.

EXPORTS OF BELGIUM

According to the 2009 estimates, Belgium had an export volume of $296.1 billion and ranked 13thin the world. This, however, showed a tremendous drop from the 2008 figures, which shone bright at $371.5 billion. The various export commodities include:

Machinery and equipment Chemicals Finished diamonds Metals and metal products Foodstuffs

IMPORTS OF BELGIUM

 According to the 2009 estimates, Belgium reported its import volume at $315 billion and ranked 11th in the world. This was, however, lower than the 2008 figure of $387.7 billion.

The various imported commodities are: Raw materials Machinery and equipment Chemicals Raw diamonds Pharmaceuticals Foodstuffs Transportation equipment Oil products