Belgium's Economic Landscape and its Implications for Global Trade

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Assignment
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Part 1: Review of country/market
Belgium is a country situated in Western Europe. The respective country is known for its culture
and prestige. The authorities of the country are very interested in enhancing the international
network of the country and are trying to modernise their infrastructure in order to attract trade.
Foreign trade is the most significant way in which the respective nation is able to enhance its
financial structure. A variety of languages are spoken in this country including Dutch and
French. The main advantage of the country is its diverse market. It is the major attraction of the
individuals resides in USA. The marketers of USA try to send their goods to Belgium for the
purpose of testing. With the help of this process, they are able to test their products in diverse
environment.
Belgium is densely populated nation with a population of about 11.35 million individuals. In
Europe, Belgium is the nation that enjoys the maximum per capita income and GDP. The
purchasing power of the individuals residing is Europe is usually higher. This is the major
attraction of the exporter. By exporting in Belgium the parties are able to earn higher profit and
at the same time are able to expand their area of production.
The total GDP of Belgium is $533. With this level of GDP, Europe can be considered as a nation
with stabilised economy. The most important part of the countries’ economy is foreign trade.
Therefore it is a country that promotes trade and investment in the country. Due to this feature,
exporting in this country is very beneficial for the exporters. All the laws, administrative
policies, infrastructure and transportation of Belgium is completely in the favour of exporters and
will help in yielding them higher profits.
Belgium likewise has ECA (Export credit agency) which is named as Credendo. The primary
aim of the agency is to enhance the international trade of Belgium. With the functioning of this
agency, the authorities of Belgium are able to provide financial advantages to the exporters.
EURO is the currency of Belgium which is higher than dollar, rupee and other major trading
nations. Hence it is an opportunity for the exporters to export products in this nation and enhance
their financial structure. Alon with with this the banking structure of the country is also very
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strong and stable. The companies situated in Belgium have sound financial position and are
ready to buy international products, which is again an opportunity for the exporters.
References
 CREDENDO. (2019). CREDENDO – EXPORT CREDIT AGENCY. Retrieved on 12th
July https://www.credendo.com/about/credendo-export-credit-agency
 LawyerBelgium.com (2018). Importing and Exporting in Belgium. Retrieved on 12th July
2018 https://www.lawyersbelgium.com/importing-and-exporting-in-belgium
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