Belgium

Description of Belgium

Belgium, nestled in the heart of Europe, is a country with a rich history, diverse culture, and strategic geopolitical importance. As a founding member of the European Union and host to key international organizations, Belgium plays a significant role in shaping European politics and economics. Known for its waffles, chocolates, and stunning architecture, Belgium seamlessly blends tradition with modernity, making it a fascinating country to explore. Join us as we delve into the intricate web of geopolitical and macroeconomic dynamics that define Belgium's place in the global arena.

Population And Age Structure

Population, total: Belgium has a population of 11,538,604, which is below the average population of 40,097,746. Belgium's population ranks 80th out of 194 countries.

Population ages 0-14 (% of total population): The percentage of population ages 0-14 in Belgium is 16.79%, below the average of 27.34%. Belgium ranks 153rd out of 194 countries in this category.

Population ages 0-14, total: Belgium's total population ages 0-14 is 1,937,735, below the average of 10,327,379. Belgium ranks 99th out of 194 countries.

Population ages 15-64 (% of total population): In Belgium, 64% of the population falls between ages 15-64, slightly above the average of 63.44%. Belgium ranks 107th out of 194 countries.

Population ages 15-64, total: Belgium has 7,384,578 individuals aged 15-64, below the average of 26,003,407. Belgium's rank is 79th out of 194 countries.

Population ages 65 and above (% of total population): The percentage of population ages 65 and above in Belgium is 19.21%, significantly higher than the average of 9.22%. In this category, Belgium ranks 23rd out of 194 countries.

Population ages 65 and above, total: The total population of individuals aged 65 and above in Belgium is 2,216,291, below the average of 3,766,959. Belgium ranks 46th out of 194 countries.

Summary

Belgium has a below-average total population with a higher percentage of individuals aged 65 and above compared to the global average. The country ranks lower in terms of total population and the percentage of people in the age group of 0-14 and 15-64, indicating an aging population demographic. These indicators are crucial for policymakers to address healthcare, pension, and workforce planning as the proportion of elderly individuals is higher than the global average, which may impact the country's future social welfare and economic development.

Population Miscellaneous

- Belgium's rural population is 221,657, significantly below the attribute average of 18,044,041. Belgium ranks 158 out of 190 countries in this category.
- The percentage of Belgium's total population living in rural areas is 1.92%, well below the average of 41.16%. The country ranks 189 out of 190 countries in this aspect.
- Belgium's urban population stands at 11,316,947, lower than the average of 22,425,747. Belgium ranks 55 out of 194 countries in urban population.
- With 98.08% of its population residing in urban areas, Belgium surpasses the average of 59.69%. The country is ranked 6 out of 194 in this metric.
- The age dependency ratio in Belgium is 56.25%, slightly below the average of 59.22%. Belgium ranks 88 out of 194 countries in this regard.
- Belgium's crude birth rate of 9.9 per 1,000 people is below the average of 19.38. It ranks 157 out of 192 countries.
- The country's crude death rate is 11 per 1,000 people, exceeding the average of 8.21. Belgium ranks 32 out of 192 in this category.
- Belgium's total fertility rate is 1.55 births per woman, lower than the average of 2.60. The country is ranked 148 out of 190 nations for this statistic.

Summary

Belgium's demographic profile reveals a significant urban population dominance, with only a small percentage residing in rural areas. The country also exhibits lower-than-average birth rates and total fertility rate, indicating a declining population growth trend compared to the global averages. These indicators are crucial for policymakers to address potential labor force shortages, aging population concerns, and sustainable economic development strategies in Belgium.

Military

- In terms of Military expenditure (current USD), Belgium's value of $5,317,451,270.94 is below the average of $12,904,993,617.17. Belgium ranks 35th out of 149 countries in this attribute data.
- For Military expenditure (% of GDP), Belgium's value of 1.01% is below the average of 1.90%. Belgium ranks 111th out of 148 countries in this attribute data.
- Belgium's Arms imports (SIPRI trend indicator values) of $90,000,000 is significantly lower than the average of $205,522,123.89. Belgium ranks 39th out of 113 countries.
- In terms of Arms exports (SIPRI trend indicator values), Belgium's value of $27,000,000 is well below the average of $705,705,882.35. Belgium ranks 28th out of 34 countries.
- The total number of Armed forces personnel in Belgium is 24,000, which is below the average of 165,908.54. Belgium ranks 96th out of 164 countries in this attribute data.
- The percentage of Armed forces personnel in the total labor force in Belgium is 0.46%, below the average of 1.28%. Belgium ranks 117th out of 164 countries in this attribute data.

Summary

Belgium's military expenditure, arms imports, arms exports, number of armed forces personnel, and percentage of armed forces personnel in the total labor force are all below global averages, indicating a relatively low level of military involvement compared to other countries. These statistics are important as they suggest that Belgium prioritizes other areas of national development over military spending and emphasizes diplomatic solutions over military force in international affairs.

Natural Resources

1. Belgium's forest area covers 6,893 sq. km, which is significantly below the attribute average of 211,606 sq. km. This ranks Belgium at 131 out of 191 countries in the dataset.

2. The land area of Belgium is 30,280 sq. km, much lower than the attribute average of 665,166 sq. km, placing Belgium at rank 136 out of 194 countries.

3. With a surface area of 30,530 sq. km, Belgium falls well below the attribute average of 689,779 sq. km, ranking at 136 out of 194 countries.

4. Belgium's arable land spans 864,876.6 hectares, significantly below the attribute average of 7,329,543.16 hectares, placing Belgium at rank 113 out of 190 countries.

5. The land under cereal production in Belgium is 304,350 hectares, much lower than the attribute average of 4,206,011.63 hectares, ranking Belgium at 114 out of 174 countries.

6. Belgium receives an average annual precipitation depth of 847 mm, below the attribute average of 1,157.83 mm. Belgium is ranked 100 out of 178 countries in terms of precipitation depth.

7. In terms of renewable internal freshwater resources, Belgium has a total of 12 billion cubic meters, significantly lower than the attribute average of 240.41 billion cubic meters. This places Belgium at rank 118 out of 178 countries.

Summary

Belgium's key macroeconomic indicators, such as its forest area, land area, arable land, cereal production, precipitation depth, and renewable internal freshwater resources, all fall below global averages. These rankings indicate a limited natural resource base and potential challenges in agriculture and water management for Belgium on the global stage. It is critical for Belgium to focus on sustainable land use practices, water conservation, and resource management to ensure long-term economic stability and environmental sustainability.

Resource Rents

Belgium's total natural resources rents account for 0.028% of its GDP, significantly lower than the attribute average of 4.63%. This places Belgium at a rank of 160 out of 175 countries in the dataset.

In terms of forest rents, Belgium's value is 0.014% of its GDP, notably lower than the average of 1.53%. This places Belgium at a rank of 148 out of 174 countries.

For oil rents, Belgium's percentage stands at 0.015% of its GDP, well below the average of 2.51%. This ranks Belgium at 89 out of 117 countries in the dataset.

Regarding natural gas rents, Belgium contributes a mere 0.00003% of its GDP to this aspect, significantly lower than the average of 1.25%. This places Belgium at a rank of 94 out of 96 countries.

Summary

Belgium's contribution to natural resources rents, forest rents, oil rents, and natural gas rents as percentages of its GDP are all significantly below global averages, ranking relatively low among countries in these aspects. These indicators suggest that Belgium has limited reliance on natural resource-based income compared to many other nations, potentially indicating a more diversified economy with less exposure to commodity price volatility.

Commodities

- Cereal production in Belgium is 2,565,850 metric tons, below the average of 17,249,945. This ranks Belgium 84th out of 174 countries. - Aquaculture production in Belgium is 209 metric tons, significantly below the average of 679,642. Belgium ranks 141st out of 180 countries. - Capture fisheries production in Belgium is 19,953.8 metric tons, well under the average of 467,453. Belgium ranks 123rd out of 190 countries. - Total fisheries production in Belgium is 20,162.8 metric tons, much lower than the average of 1,153,914. Belgium ranks 127th out of 182 countries. - Fertilizer consumption in Belgium is 259.04 kilograms per hectare of arable land, above the average of 159.04. Belgium ranks 26th out of 187 countries.

Summary

Belgium's agricultural sector shows mixed performance compared to global averages. While cereal production is significantly below average, the country fares better in aquaculture, capture fisheries, and total fisheries production. The high fertilizer consumption per hectare of arable land also indicates a relatively efficient agricultural sector. These indicators are crucial as they reflect Belgium's food security, economic contribution from agriculture, and environmental impact due to fertilizer usage.

Intellectual Property

For Patent applications by nonresidents, Belgium's value of 288 is significantly below the average of 6538.40. This places Belgium at rank 52 out of 129 countries in the dataset.

Regarding Patent applications by residents, Belgium's value of 862 is notably lower than the average of 19037.56. This ranks Belgium at 37 out of 117 countries.

Belgium's value of 17015.55 for Scientific and technical journal articles is above the average of 15103.76. This places Belgium at a strong rank of 28 out of 192 countries.

For Charges for the use of intellectual property payments, Belgium's value of 3420383355.10 exceeds the average of 3218843494.39. Belgium is ranked 24 out of 143 countries in this aspect.

Belgium's value of 3735997594.58 for Charges for the use of intellectual property receipts is higher than the average of 3191687117.58, positioning Belgium at rank 16 out of 122 countries.

With 5410.83 Researchers in R&D per million people, Belgium shows a figure well above the average of 2556.45. This places Belgium at a notable rank of 11 out of 72 countries in the dataset.

Summary

Belgium exhibits strengths in scientific and intellectual property sectors, with above-average values in scientific research, intellectual property payments and receipts, and a high number of researchers per million people. Although the country may have lower patent application figures compared to some nations, its robust presence in scientific publications and intellectual property transactions indicate a focus on innovation and knowledge-intensive activities. These indicators are crucial as they demonstrate Belgium's commitment to research and development, innovation, and the commercialization of intellectual property, highlighting its competitiveness in the global economy.

Broad Economy Attributes

1. GDP (current US$): Belgium's GDP is $526,264,230,147.39, which is higher than the average GDP of $442,870,224,838.68. Belgium ranks 23 out of 189 countries included in the data.

2. GDP, PPP (current international $): Belgium's GDP, based on purchasing power parity, is $643,354,115,322.59, below the average of $734,141,122,350.78. Belgium ranks 35 out of 181 countries.

3. GDP per capita (current US$): Belgium's GDP per capita is $45,609.00, significantly higher than the average of $15,462.11. Belgium ranks 19 out of 190 countries.

4. GDP per capita, PPP (current international $): Belgium's GDP per capita, based on purchasing power parity, is $55,756.67, much higher than the average of $21,251.89. Belgium ranks 16 out of 181 countries.

5. GNI (current US$): Belgium's Gross National Income is $531,671,614,966.38, above the average GNI of $452,040,815,370.70. Belgium ranks 23 out of 185 countries.

6. GNI, PPP (current international $): Belgium's GNI, based on purchasing power parity, is $649,964,603,129.17, below the average of $730,698,223,823.47. Belgium ranks 35 out of 181 countries.

7. GNI per capita, PPP (current international $): Belgium's GNI per capita, based on purchasing power parity, is $56,330.00, significantly higher than the average of $20,615.75. Belgium ranks 15 out of 181 countries.

Summary

Belgium boasts a strong economy as evidenced by its GDP, GDP per capita, and GNI metrics all surpassing global averages. Particularly notable is Belgium's high GDP per capita and GNI per capita, indicating a relatively affluent population. These indicators are crucial as they reflect Belgium's economic prosperity, standard of living, and purchasing power, showcasing its competitiveness and stability in the global market.

Broad Value Added

1. Gross value added at basic prices (GVA) (current US$): Belgium's GVA is $472,436,182,560.16, ranking 22 out of 176 countries. This value is above the attribute average of $360,070,943,595.12.

2. Agriculture, forestry, and fishing, value added (% of GDP): Belgium's value added in this sector is 0.68% of its GDP, ranking 173 out of 182 countries. This percentage is significantly below the attribute average of 10.86%.

3. Agriculture, forestry, and fishing, value added (current US$): Belgium's value added in this sector is $3,574,160,064.12, ranking 86 out of 182 countries. It is below the attribute average of $19,924,732,828.07.

4. Services, value added (% of GDP): In Belgium, services contribute 69.71% to the GDP, ranking 21 out of 183 countries. This is higher than the attribute average of 56.72%.

5. Services, value added (current US$): Belgium's service sector value added is $366,853,515,982.26, ranking 21 out of 183 countries, which is above the attribute average of $295,837,711,130.69.

6. Industry (including construction), value added (current US$): Belgium's industry value added is $102,008,506,513.77, ranking 33 out of 183 countries. This value is below the attribute average of $118,421,095,413.50.

Summary

Belgium demonstrates a strong service sector, with services contributing significantly to its GDP compared to the global average. However, the country lags behind in the agriculture, forestry, and fishing sectors in terms of both GDP contribution and value added. This emphasizes Belgium's reliance on its service industry for economic growth, potentially highlighting the need for diversification and development in other sectors to ensure long-term economic stability and resilience.

Manufacturing Value Added

Belgium's Manufacturing, value added (current US$) is $11,702,796,532.85 below the average, ranking 30 out of 173 countries. Belgium's Manufacturing, value added (% of GDP) is 0.35% above the average, ranking 79 out of 173 countries.

Belgium excels in Medium and high-tech manufacturing value added (% manufacturing value added), with a difference of 28.32% above the average, ranking 9 out of 149 countries. Chemicals (% of value added in manufacturing) in Belgium is 23.79% above the average, ranking 3 out of 89 countries.

On the other hand, Belgium's Food, beverages and tobacco (% of value added in manufacturing) is 8.16% below the average, ranking 57 out of 92 countries. Machinery and transport equipment (% of value added in manufacturing) is below average by 1.05%, ranking 45 out of 93 countries.

Belgium's Textiles and clothing (% of value added in manufacturing) is significantly below average by 4.53%, ranking 64 out of 93 countries. Other manufacturing (% of value added in manufacturing) is also below average by 11.43%, ranking 79 out of 94 countries.

Summary

Belgium stands out in Medium and High-tech manufacturing as well as Chemicals production, ranking among the top performers globally. However, the country lags behind in Food, beverages, and tobacco manufacturing, Machinery and transport equipment production, Textiles and clothing manufacturing, and Other manufacturing sectors. These findings are crucial as they highlight Belgium's strengths in high value-added industries while also pointing towards areas that may require further development to enhance overall economic competitiveness and diversification.

Money

For Inflation, consumer prices (annual %), Belgium has a value of 0.74%, which is significantly below the average of 8.26%. This places Belgium at a rank of 112 out of 165 countries in the data set.

Regarding Inflation, GDP deflator (annual %), Belgium's value of 1.60% is lower than the average of 6.90%. This positions Belgium at the 108th rank out of 188 countries in the dataset.

Summary

Belgium demonstrates a commendable economic performance with below-average values in both inflation indicators. With inflation rates of 0.74% for consumer prices and 1.60% for GDP deflator, Belgium ranks 112th and 108th out of 165 and 188 countries respectively. These low inflation rates signify relative price stability in the economy, which can contribute to promoting consumer confidence, encouraging investment, and fostering sustainable economic growth in the long term.

Consumption Expenditure

1. Final consumption expenditure (current US$): In Belgium, the final consumption expenditure is $388.25 billion, slightly above the average of $381.63 billion. Belgium ranks 22nd out of 159 countries in this category.

2. Final consumption expenditure (% of GDP): Belgium's final consumption expenditure as a percentage of GDP is 73.78%, below the average of 82.37%. This places Belgium at the 115th rank out of 159 countries.

3. General government final consumption expenditure (current US$): Belgium's expenditure by the general government is $128.43 billion, significantly higher than the average of $93.68 billion. Belgium ranks 19th out of 158 countries.

4. General government final consumption expenditure (% of GDP): The general government's expenditure in Belgium accounts for 24.40% of the GDP, surpassing the average of 18.71%. Belgium holds the 25th rank out of 158 countries.

5. Household and NPISHs Final consumption expenditure (current US$): With a final expenditure of $259.82 billion, Belgium spends less than the average of $290.13 billion. In this category, Belgium is ranked 25th out of 158 countries.

6. Households and NPISHs final consumption expenditure (% of GDP): Households and NPISHs' expenditure in Belgium represents 49.37% of the GDP, falling short of the average of 63.68%. Belgium is positioned at the 131st rank out of 158 countries.

Summary

Belgium's final consumption expenditure is slightly above average in terms of total expenditure, but below average when measured as a percentage of GDP. The general government's expenditure is significantly higher than average, contributing more to GDP compared to the average. However, household and NPISHs' expenditure falls below the average percentage of GDP.

These findings are important as they provide insights into how different sectors contribute to Belgium's economy. A high general government expenditure could indicate increased public sector investments and services, while lower household expenditure may signal potential challenges in private consumption and economic growth.

Equities

Belgium's S&P Global Equity Indices have decreased by -7.43% annually, which is significantly below the attribute average of 2.06%. This places Belgium at a rank of 54 out of 79 countries in the dataset.

Summary

Belgium's S&P Global Equity Indices have shown a concerning annual decrease of -7.43%, ranking the country at 54 out of 79 countries in the dataset, significantly below the average performance of 2.06%. This downturn indicates a potential loss of investor confidence in Belgium's economic prospects, leading to decreased capital inflows and potential challenges for the country's economic growth and stability.

Investment

- Foreign direct investment, net (BoP, current US$): Belgium's value of $5,632,446,683.86 is above the average by $7,247,682,664.36, ranking 15th out of 169 countries.
- Foreign direct investment, net inflows (BoP, current US$): With a value of -$27,359,654,516.00, Belgium falls below the average significantly by $33,108,925,596.15, ranking 180th out of 182 countries.
- Foreign direct investment, net inflows (% of GDP): Belgium's value of -5.20% is lower than the average by 7.81%, ranking 173rd out of 178 countries.
- Foreign direct investment, net outflows (BoP, current US$): With a value of -$21,727,207,832.15, Belgium is below the average by $27,435,198,948.21, ranking 152nd out of 156 countries.
- Foreign direct investment, net outflows (% of GDP): Belgium's value of -4.13% is less than the average by 5.13%, ranking 147th out of 155 countries.
- Portfolio Investment, net (BoP, current US$): Belgium's value of $23,074,049,380.75 is notably above the average by $22,394,490,211.17, ranking 14th out of 159 countries.
- Portfolio equity, net inflows (BoP, current US$): Belgium's value of $8,491,695,536.06 is below the average by $705,450,458.64, ranking 9th out of 125 countries.

Summary

Belgium exhibits strong performance in terms of foreign direct investment inflows and outflows, ranking relatively high in net FDI and portfolio investments globally. However, it lags behind in FDI inflows as a percentage of GDP, indicating potential room for improvement in attracting direct investments relative to its economic size. These indicators are crucial as they reflect Belgium's attractiveness to foreign investors, its capital flows, and its integration into the global financial system.

Broad Trade Attributes

Trade (% of GDP): Belgium's trade value accounts for 155.26% of its GDP, which is significantly higher than the average of 82.34%. This places Belgium at rank 13 out of 163 countries in the dataset.

Merchandise trade (% of GDP): Belgium's merchandise trade as a percentage of GDP is 155.78%, much higher than the average of 60.01%. This places Belgium at rank 7 out of 186 countries in the dataset.

Trade in services (% of GDP): Belgium's trade in services represents 45.18% of its GDP, above the average of 24.63%. Belgium is ranked 16 out of 171 countries in the dataset for this attribute.

External balance on goods and services (current US$): Belgium has a balance of $10,524,309,167.47 in goods and services, significantly higher than the average of $3,405,509,011.13. Belgium is ranked 30 out of 163 countries in this dataset.

External balance on goods and services (% of GDP): Belgium's external balance of goods and services is 1.99% of its GDP, which is above the average of -5.97%. Belgium is ranked 48 out of 163 countries for this attribute.

Summary

Belgium stands out in terms of trade performance, with its trade value, merchandise trade, and trade in services all significantly exceeding global averages and ranking among the top countries in the dataset. The country also maintains a strong external balance on goods and services, with a surplus much higher than the average. These indicators reflect Belgium's robust and competitive economy, emphasizing its strong position in the global market and its ability to generate wealth through trade.

Net Trade

Belgium's current account balance stands at $7.32 billion, significantly above the average of $1.44 billion, ranking 23rd out of 170 countries. The current account balance as a percentage of GDP is 1.39%, higher than the average of -2.36%, ranking 53rd out of 170 countries.

Net trade in goods and services for Belgium amounts to $10.41 billion, surpassing the average of $2.60 billion, ranking 29th out of 171 countries. The country's net primary income is $5.39 billion, well above the average of -$0.90 billion, ranking 13th out of 170 countries.

Belgium's net secondary income is at -$8.48 billion, much lower than the average of -$0.27 billion, ranking 156th out of 170 countries. The country's net trade in goods is $11.30 billion, exceeding the average of $1.30 billion, ranking 28th out of 171 countries.

Furthermore, Belgium's net capital account stands at -$285 million, lower than the average of $137 million, ranking 147th out of 159 countries. Lastly, the net financial account for Belgium is $6.30 billion, far above the average of -$0.47 billion, ranking 25th out of 170 countries.

Summary

Belgium's macroeconomic indicators reveal a strong current account balance, net trade in goods and services, and primary income, outperforming global averages and securing high rankings globally. However, the country displays a notable deficit in net secondary income, ranking low among its peers. These statistics are crucial as they showcase Belgium's robust trade position and financial stability, while also highlighting areas for potential improvement to ensure a more balanced economic performance.

Broad Export Attributes

Exports of goods, services and primary income in Belgium amount to $473.35 billion, significantly surpassing the average of $146.24 billion. Belgium ranks 15th out of 170 countries in this category.

Belgium's exports of goods and services, valued at $413.77 billion, also exceed the average of $122.94 billion. The country holds the 16th rank out of 170 countries in this aspect.

With exports of goods and services accounting for $413.81 billion, Belgium again outperforms the average of $129.60 billion, securing the 16th rank out of 163 countries.

Belgium's goods exports stand at $295.32 billion, well above the average of $93.31 billion. The country is ranked 16th out of 171 countries in this metric.

International tourism receipts in Belgium, comprising 1.80% of total exports, fall below the average of 9.74%. The country ranks 92nd out of 120 countries in this respect.

ICT goods exports in Belgium, representing 2.32% of total goods exports, are lower than the average of 3.81%. Belgium holds the 41st position out of 142 countries regarding this parameter.

Summary

Belgium demonstrates strong performance in various aspects of exports, surpassing global averages and securing high rankings among numerous countries. Particularly noteworthy is Belgium's significant export value across different categories, indicating a robust and diversified economy. However, the lower share of international tourism receipts and ICT goods exports compared to global averages suggests potential areas for growth and optimization to further enhance Belgium's economic competitiveness and sustainability in the long term.

Merchandise Exports

Analysis of Macro Economic Attributes for Belgium:

Summary

Belgium boasts a high value of merchandise exports compared to the global average, ranking 9th internationally. However, the country lags behind in the export of agricultural raw materials, food, fuel, ores, metals, and residual exports. These findings are crucial as they indicate Belgium's strong industrial sector but potential vulnerability due to its limited diversification in export commodities.

Technology Exports

Belgium's Manufactures exports account for 76.19% of its merchandise exports, significantly above the average of 42.62%. This places Belgium at a rank of 30 out of 152 countries.

The country's High-technology exports amount to $34,318,547,686, well above the average of $16,655,934,078. Belgium ranks 17 out of 151 countries in this aspect.

With High-technology exports constituting 15.26% of its manufactured exports, Belgium surpasses the average of 10.15%. The country is ranked 34 out of 150 nations for this metric.

Belgium's Medium and high-tech exports make up 59.57% of its manufactured exports, surpassing the average of 34.29%. This places Belgium at a rank of 32 out of 149 countries in this category.

Summary

Belgium stands out in the global market with its strong focus on high-technology exports, exceeding both the average value and percentage of such exports compared to other countries. Its significant share of medium and high-tech exports further underscores its advanced manufacturing capabilities. These indicators highlight Belgium's competitive edge in producing and exporting sophisticated technological products, showcasing its economic strength and potential for continued growth in the global marketplace.

Service Exports

1. Service exports (BoP, current US$): Belgium's service exports amount to $118.45 billion, significantly higher than the average of $28.92 billion. Belgium ranks 13th out of 171 countries in this category.

2. ICT service exports (BoP, current US$): Belgium's ICT service exports stand at $15.19 billion, well above the average of $4.58 billion. With a rank of 12th out of 166 countries, Belgium performs strongly in this sector.

3. ICT service exports (% of service exports, BoP): Belgium's ICT service exports account for 12.82% of its total service exports, slightly higher than the average of 11.75%. The country ranks 53rd out of 166 countries in this aspect.

4. Communications, computer, etc. (% of service exports, BoP): Belgium's services in this category constitute 64.22% of its total service exports, significantly surpassing the average of 45.85%. Belgium holds the 41st position out of 169 countries.

5. Transport services (% of service exports, BoP): Belgium's transport services make up 19.49% of its service exports, slightly below the average of 21.80%. The country ranks 78th out of 169 countries in this segment.

6. Travel services (% of service exports, BoP): Belgium's travel services contribute 5.27% to its service exports, notably lower than the average of 26.40%. With a rank of 142nd out of 167 countries, Belgium has room for improvement in this area.

7. Insurance and financial services (% of service exports, BoP): Belgium's insurance and financial services account for 9.96% of its total service exports, exceeding the average of 6.46%. Belgium ranks 34th out of 161 countries in this field.

Summary

Belgium demonstrates a strong performance in service exports, particularly excelling in ICT service exports and communications-related services. While the country's ICT service exports and insurance/financial services exceed global averages, there is potential for improvement in travel services where Belgium lags significantly. These findings are crucial for policymakers and stakeholders as they highlight Belgium's comparative advantage in certain service sectors and identify areas that require attention to enhance overall competitiveness and economic growth.

Commercial Service Exports

Commercial service exports (current US$): Belgium's value of $115,853,231,390.21 is significantly higher than the average of $28,508,218,402.80, ranking 13th out of 171 countries.

Travel services (% of commercial service exports): Belgium's percentage of 5.39% is below the average of 27.89%. This places Belgium at the 141st rank out of 167 countries.

Computer, communications and other services (% of commercial service exports): Belgium's percentage of 64.49% is above the average of 42.44%, ranking 34th out of 169 countries.

Insurance and financial services (% of commercial service exports): Belgium's percentage of 10.19% is higher than the average of 6.97%, placing Belgium at the 36th rank out of 161 countries.

Transport services (% of commercial service exports): With a percentage of 19.93%, Belgium is below the average of 23.37%, ranking 82nd out of 169 countries.

Summary

Belgium excels in commercial service exports, with a value significantly higher than the global average, ranking 13th worldwide. The country has a strong focus on computer, communications, and other services, surpassing the global average and ranking 34th globally. However, Belgium lags behind in travel and transport services, ranking lower than the global averages.

These findings are important as they highlight Belgium's strengths in certain service sectors, which can drive economic growth and competitiveness. The lower ranking in travel and transport services indicates areas that may need further development to enhance Belgium's overall commercial service exports performance.

Broad Import Attributes

Imports of goods and services (current US$): Belgium's value of $403.29 billion is significantly above the average of $126.19 billion, ranking 16th out of 163 countries.

Imports of goods and services (% of GDP): Belgium's value of 76.63% is higher than the average of 44.15%, placing it 16th out of 163 countries.

International tourism, expenditures (% of total imports): Belgium's value of 3.45% is below the average of 3.98%, ranking 56th out of 131 countries.

ICT goods imports (% total goods imports): Belgium's value of 4.45% is lower than the average of 6.85%, positioning it at 89th out of 143 countries.

Goods imports (BoP, current US$): Belgium's value of $284.03 billion is well above the average of $92.01 billion, ranking 16th out of 171 countries.

Imports of goods and services (BoP, current US$): Belgium's value of $403.36 billion is significantly higher than the average of $120.32 billion, placing it 16th out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Belgium's value of $457.55 billion is notably above the average of $144.51 billion, ranking 17th out of 170 countries.

Summary

Belgium's imports of goods and services, international tourism expenditures, and ICT goods imports are all slightly below average compared to other countries, while its imports in terms of value are consistently well above average, ranking 16th or higher in each category. This indicates a strong dependence on imports for Belgium's economy, which may pose risks in terms of trade balance and foreign exchange reserve management.

Merchandise Imports

Belgium's merchandise imports amount to $397.96 billion, ranking 11th out of 190 countries. This is significantly above the average of $89.39 billion.

Manufactures imports account for 74.26% of Belgium's merchandise imports, ranking 37th out of 152 countries. This value is higher than the average of 66.76%.

Agricultural raw materials imports represent 1.09% of Belgium's merchandise imports, ranking 80th out of 152 countries. The country falls below the average of 1.27%.

Food imports constitute 10.87% of Belgium's merchandise imports, placing it 111th out of 152 countries. This percentage is lower than the average of 15.89%.

Fuel imports represent 7.95% of Belgium's merchandise imports, ranking 103rd out of 152 countries. This figure is below the average of 11.38%.

Belgium's ores and metals imports account for 5.31% of merchandise imports, ranking 16th out of 152 countries. This value is notably above the average of 2.57%.

Merchandise imports by the reporting economy, residual, make up 0.04% of Belgium's total merchandise imports, placing the country 139th out of 180 countries. This figure is significantly lower than the average of 2.51%.

Summary

Belgium's strong reliance on manufactured imports, which account for a significant portion of its total merchandise imports, indicates a highly industrialized economy. The country's above-average imports of ores and metals also highlight a focus on industrial inputs and production. However, the lower-than-average imports of food and agricultural raw materials suggest a potential vulnerability in terms of food security and reliance on imported agricultural products.

These findings are important as they provide insights into Belgium's economic structure, revealing its strengths in manufacturing and industrial sectors but also pointing out potential risks related to food self-sufficiency and agricultural production. Understanding these import dynamics can help policymakers and investors assess Belgium's economic resilience and make informed decisions regarding trade, investment, and agricultural policies.

Service Imports

For "Service imports (BoP, current US$)", Belgium's value is significantly above the average of $27.6 billion, ranking 11th out of 171 countries in the dataset.

Regarding "Communications, computer, etc. (% of service imports, BoP)", Belgium's value of 61.53% is higher than the average of 44.40%, placing it at the 30th spot out of 169 countries.

In terms of "Transport services (% of service imports, BoP)", Belgium's value is below the average of 32.90%, standing at the 134th rank out of 169 countries.

For "Travel services (% of service imports, BoP)", Belgium's value falls under the average of 14.14%, positioning it at the 85th rank out of 169 countries.

Lastly, in "Insurance and financial services (% of service imports, BoP)", Belgium's value is lower than the average of 8.53%, placing it at the 80th rank out of 169 countries.

Summary

Belgium stands out in terms of service imports, with values well above the global average for "Communications, computer, etc." and below average for "Transport services," "Travel services," and "Insurance and financial services." This indicates a strong reliance on digital services within its service imports, but a relatively lower emphasis on transport, travel, and financial services. These findings are crucial for understanding Belgium's economic structure, trade patterns, and potential areas for growth or diversification in its service sector.

Commercial Service Imports

Belgium's Commercial service imports amount to $119.26 billion, ranking 11th out of 171 countries. This is significantly above the attribute average of $27.10 billion.

For Computer, communications, and other services (% of commercial service imports), Belgium's value is 62.73%, ranking 25th out of 169 countries. This is notably higher than the attribute average of 41.71%.

In terms of Insurance and financial services (% of commercial service imports), Belgium's value is 7.46%, ranking 81st out of 169 countries. This is below the attribute average of 8.85%.

Regarding Transport services (% of commercial service imports), Belgium's value is 18.92%, ranking 139th out of 169 countries. This is lower than the attribute average of 34.71%.

Lastly, for Travel services (% of commercial service imports), Belgium's value is 10.89%, ranking 87th out of 169 countries. This is below the attribute average of 14.73%.

Summary

Belgium's commercial service imports are significantly high, ranking 11th globally. The country shows a strong emphasis on computer, communications, and other services, surpassing the global average. However, Belgium lags behind in insurance, financial services, transport services, and travel services compared to global averages. This suggests that while Belgium excels in certain service sectors, there is room for improvement and diversification in other areas to enhance its commercial service import portfolio and overall economic resilience.

Infrastructure

Belgium's railways, passengers carried is 24,884.9 million passenger-km below the average of 32,281.9 million passenger-km, ranking 20th out of 64 countries in the dataset.

For air transport, freight, Belgium's value is 119.3 million ton-km below the average of 1,384.4 million ton-km, placing it at 21st out of 126 countries.

In terms of air transport, registered carrier departures worldwide, Belgium is 77,293.5 departures below the average of 134,365.6 departures, ranking 41st out of 149 countries.

Belgium's air transport, passengers carried is 8,327,392.9 passengers below the average of 11,848,242.7 passengers, positioning it at 45th out of 149 countries.

For container port traffic, Belgium's 12,697,162 TEU is significantly higher than the average of 6,907,110.3 TEU, ranking 13th out of 110 countries.

Belgium's rail lines (total route-km) of 3,615 falls 8,589.7 route-km below the average of 12,204.7 route-km, placing it at 31st out of 66 countries.

Summary

Belgium performs below the global average in railways passengers carried, air transport freight, registered carrier departures, and air transport passengers carried. However, it excels in container port traffic, surpassing the global average. These findings are crucial as they indicate Belgium's strengths and weaknesses in transportation infrastructure, which can impact its competitiveness and connectivity with other nations.

Information Technology Infrastructure

Belgium has 279,411 secure internet servers which is below the average of 458,294. Belgium is ranked 33 out of 193 countries for this attribute.

For secure internet servers per 1 million people, Belgium has 24,215.32 servers, above the average of 14,067.17. Belgium is ranked 32 out of 193 countries.

With 91.53% of its population using the internet, Belgium exceeds the average of 64.77%. It is ranked 27 out of 180 countries.

Belgium's 4,734,210 fixed broadband subscriptions are below the average of 6,591,956. Belgium is ranked 33 out of 185 countries.

Regarding mobile cellular subscriptions, Belgium's 11,529,728 subscriptions fall short of the average of 42,526,463. Belgium is ranked 81 out of 193 countries for this metric.

Summary

Belgium performs above average in terms of secure internet servers per 1 million people, internet usage rate, and below average in fixed broadband subscriptions and mobile cellular subscriptions. These indicators are crucial as they reflect Belgium's digital infrastructure readiness, connectivity levels, and technological advancement compared to other countries. The high rate of internet usage and secure server accessibility demonstrate Belgium's strong digital presence, potentially boosting its competitiveness and innovation capacity on a global scale.

Energy Consumption

Belgium's renewable energy consumption is 12.28% of its total final energy consumption, which is below the average of 32.18%. This places Belgium at a rank of 131 out of 191 countries in the dataset.

In terms of CO2 emissions, Belgium emits 85,364.1 kt of CO2, falling below the average of 171,895.94 kt. This positions Belgium at rank 41 out of 188 countries in the dataset.

Summary

Belgium's renewable energy consumption of 12.28% is significantly lower than the global average of 32.18%, ranking the country 131 out of 191 nations. Additionally, Belgium's CO2 emissions of 85,364.1 kt are below the global average of 171,895.94 kt, positioning the country at rank 41 out of 188 nations. These statistics are crucial as they indicate Belgium's performance in transitioning towards sustainable energy sources and its environmental impact compared to other countries.

Government Balance Sheet

Belgium's net acquisition of financial assets is 0.80% of GDP, below the average of 2.45%. This places Belgium at rank 52 out of 87 countries.

With central government debt at 119.24% of GDP, Belgium surpasses the average of 74.12%. This positions Belgium at rank 8 out of 61 countries.

Belgium's net incurrence of liabilities is 7.80% of GDP, slightly above the average of 7.43%. This places Belgium at rank 40 out of 92 countries.

Belgium's reserves and related items stand at $1,029,053,094.77 in current US dollars, significantly below the average of $1,924,407,186.58. This ranks Belgium at position 41 out of 171 countries.

With total reserves minus gold at $19,470,395,464.69, Belgium is below the average of $74,221,588,171.61, ranking at 52 out of 161 countries.

Belgium's total reserves, including gold, amount to $33,296,227,564.69, below the average of $85,708,019,773.47, positioning Belgium at rank 53 out of 161 countries.

Belgium's total reserves in months of imports ratio is 0.87, significantly below the average of 7.10. This places Belgium at rank 142 out of 151 countries.

Summary

Belgium's key macroeconomic indicators reveal a mixed performance. While the country falls below average in net acquisition of financial assets, reserves, and related items, it surpasses the average in central government debt and net incurrence of liabilities. These statistics are crucial as they indicate Belgium's financial stability, fiscal health, and ability to meet international payment obligations, providing valuable insights for policymakers, investors, and economic analysts.

Government Revenue

1. Revenue, excluding grants (% of GDP): Belgium's value for this attribute is 37.26%, which is above the average of 27.02%. Belgium ranks 21st out of 122 countries in this category.

2. Grants and other revenue (% of revenue): Belgium's value is 3.32%, significantly below the average of 23.54%. With a rank of 107 out of 108 countries, Belgium receives less revenue from grants and other sources compared to most nations.

3. Social contributions (% of revenue): Belgium's value stands at 37.66%, exceeding the average of 22.29%. This places Belgium at the 12th position out of 81 countries, showcasing a strong social contribution relative to its peers.

4. Taxes on goods and services (% of revenue): Belgium's value is 26.32%, slightly below the average of 31.82%. With a rank of 90 out of 122 countries, Belgium's reliance on such taxes is moderate compared to other nations.

5. Other taxes (% of revenue): Belgium's value is 0.39%, much lower than the average of 2.12%. Ranked 75th out of 106 countries, Belgium imposes fewer taxes in this category compared to the global average.

6. Taxes on income, profits and capital gains (% of revenue): Belgium's value is 32.31%, higher than the average of 24.66%. With a rank of 30 out of 119 countries, Belgium derives a significant portion of its revenue from these sources compared to many other nations.

Summary

Belgium's macroeconomic indicators reveal a high reliance on revenue, excluding grants, and social contributions, both exceeding global averages. However, the country receives a significantly lower percentage of revenue from grants and other sources compared to most nations. Belgium's taxation system also shows a moderate reliance on taxes on goods and services, while deriving a significant portion of revenue from taxes on income, profits, and capital gains.

These indicators are crucial as they reflect Belgium's fiscal health and sustainability. The high reliance on social contributions indicates a strong social welfare system, while the moderate dependence on certain taxes suggests a balanced revenue structure. The low percentage of revenue from grants may signal limited external financial support, impacting the country's ability to fund projects and programs reliant on such funding sources.

Taxes

1. Tax revenue (% of GDP): Belgium's tax revenue as a percentage of GDP is 22.01%, which is higher than the average of 16.72%. Belgium ranks 27th out of 123 countries in this metric.

2. Taxes on income, profits and capital gains (% of total taxes): Belgium's tax contribution from income, profits, and capital gains is 54.74%, significantly higher than the average of 38.40%. Belgium ranks 14th out of 120 countries in this category.

3. Tariff rate, applied, weighted mean, all products (%): Belgium's applied tariff rate of 1.48% is below the average of 5.21%. This places Belgium at the 112th rank out of 153 countries included in the dataset for this attribute.

Summary

Belgium demonstrates a strong reliance on tax revenue with 22.01% of its GDP coming from taxes, surpassing the global average. The country's focus on income, profits, and capital gains taxation at 54.74% highlights a robust fiscal policy framework, ranking 14th worldwide. Belgium's low applied tariff rate of 1.48% signifies a commitment to open trade policies, positioning the nation favorably at 112th place globally.

These indicators are crucial as they reflect Belgium's fiscal health, economic structure, and trade competitiveness. High tax revenue suggests a stable revenue source for government programs and investments. A significant share from income-related taxes showcases a progressive tax system supporting social welfare. The low tariff rate indicates a pro-trade stance, enhancing Belgium's attractiveness for foreign investments and fostering economic growth through international trade.

Government Expenses

1. Expense (% of GDP): Belgium's expense as a percentage of GDP is 44.03%, which is higher than the average of 31.69%. This places Belgium at rank 20 out of 123 countries in the dataset.

2. Compensation of employees (% of expense): Belgium's allocation towards employee compensation is 5.76%, below the average of 24.70%. This puts Belgium at rank 121 out of 123 countries.

3. Goods and services expense (% of expense): Belgium spends 2.49% on goods and services, falling below the average of 14.77%. Belgium ranks 120th out of 122 countries in this aspect.

4. Interest payments (% of expense): 3.85% of Belgium's expenses go towards interest payments, lower than the average of 6.85%. Belgium ranks 70th out of 121 countries.

5. Other expense (% of expense): The portion of other expenses in Belgium is 2.59%, beneath the average of 8.29%. This places Belgium at rank 104 out of 120 countries.

6. Subsidies and other transfers (% of expense): Belgium allocates 85.31% towards subsidies and other transfers, significantly exceeding the average of 43.29%. Belgium leads the dataset, ranked 1st out of 121 countries.

Summary

Belgium has a relatively high expense as a percentage of GDP, ranking 20th out of 123 countries. However, it allocates a significantly low portion towards employee compensation, goods and services, and interest payments compared to the averages, placing Belgium at lower ranks in these aspects. The country stands out for its exceptionally high allocation towards subsidies and other transfers, ranking 1st among 121 countries.

These findings are crucial as they depict Belgium's spending priorities and fiscal management. The low allocation towards key areas like employee compensation and goods/services may indicate potential challenges in workforce incentivization and infrastructure development. On the other hand, the high focus on subsidies and transfers highlights Belgium's commitment to social welfare and support programs, which could impact its economic growth and social stability in the long term.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Urban population (% of total population) 6/194
GDP per capita, PPP (current international $) 16/181
GNI per capita, PPP (current international $) 15/181
Medium and high-tech manufacturing value added (% manufacturing value added) 9/149
Chemicals (% of value added in manufacturing) 3/89
Foreign direct investment, net (BoP, current US$) 15/169
Portfolio Investment, net (BoP, current US$) 14/159
Portfolio equity, net inflows (BoP, current US$) 9/125
Trade (% of GDP) 13/163
Merchandise trade (% of GDP) 7/186
Trade in services (% of GDP) 16/171
Net primary income (BoP, current US$) 13/170
Exports of goods, services and primary income (BoP, current US$) 15/170
Exports of goods and services (BoP, current US$) 16/170
Exports of goods and services (current US$) 16/163
Exports of goods and services (% of GDP) 12/163
Goods exports (BoP, current US$) 16/171
Merchandise exports (current US$) 9/187
Service exports (BoP, current US$) 13/171
ICT service exports (BoP, current US$) 12/166
Commercial service exports (current US$) 13/171
Imports of goods and services (current US$) 16/163
Imports of goods and services (% of GDP) 16/163
Goods imports (BoP, current US$) 16/171
Imports of goods and services (BoP, current US$) 16/170
Merchandise imports (current US$) 11/190
Service imports (BoP, current US$) 11/171
Commercial service imports (current US$) 11/171
Subsidies and other transfers (% of expense) 1/121

Ranks in Bottom Decile For:

Attribute Rank/Total
Rural population (% of total population) 189/190
Total natural resources rents (% of GDP) 160/175
Natural gas rents (% of GDP) 94/96
Agriculture, forestry, and fishing, value added (% of GDP) 173/182
Foreign direct investment, net inflows (BoP, current US$) 180/182
Foreign direct investment, net inflows (% of GDP) 173/178
Foreign direct investment, net outflows (BoP, current US$) 152/156
Foreign direct investment, net outflows (% of GDP) 147/155
Net secondary income (BoP, current US$) 156/170
Net capital account (BoP, current US$) 147/159
Total reserves in months of imports 142/151
Grants and other revenue (% of revenue) 107/108
Compensation of employees (% of expense) 121/123
Goods and services expense (% of expense) 120/122