Belgium Economy

Working abroad sounds like an adventure to many people. However, job search in Belgium requires more than just the obvious Belgium CV writing and translation, it requires thorough preparation. You will face problems that probably did not even come to your mind when you made a decision to get an overseas employment.

Do not take too lightly the influence they can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and out of the ordinary management culture.

art_warning Belgium EconomyMost visits to Belgium are trouble-free but you should be aware of the global risk of indiscriminate international terrorist attacks, which could be against civilian targets, including places frequented by foreigners.

Belgium Economy - overview: This modern 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. With few natural resources, Belgium must import substantial quantities of raw materials and export a large volume of manufactures, making its economy unusually dependent on the state of world markets. Roughly, three-quarters of its trade is with other EU countries.

In 2011 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.

Labor force - by occupation: agriculture 1.1%, industry 24.5%, services 74.4% (2007 est.)

Unemployment rate: 7.5% (2007 est.), 7.7% (2011 est.)

Natural resources: coal, natural gas

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

euro_banknotes in BelgiumCurrency: Euro (EUR; symbol €) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2, 1 and 50, 20, 10, 5, 2 and 1 cents

Credit/Debit Cards and ATMs: American Express, Diners Club, MasterCard and Visa are widely accepted. ATMs are widespread.

Traveler's Cheques: Widely accepted. To avoid additional exchange rate charges, visitors are advised to take traveler's cheques in Euros, Pounds Sterling or US Dollars.

Exchange rates: Euros (EUR) per US dollar - 0.7107 (2011 est.), 0.755 (2010 est.), 0.7198 (2009 est.), 0.6827 (2008 est.), 0.7345 (2007 est.), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)

Inflation rate (consumer prices): 1.8% (2007 est.), 3.1% (2011 est.)

Other Belgium Economy Info

We hope that your Belgium job search has been successful and you will get Belgium visa too. So, if your Belgium cover letter and Belgium CV are ready, you may distribute them to your future employers or job recruiters and start preparing for Belgium job interview.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with your Belgium economy info!


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