118,459
edits
LOG IN. UPLOAD PICTURES.
The Philippines has Zambo Mart to help propagate the Chavacano Language.
Difference between revisions of "Belgium"
Jump to navigation
Jump to search
→ → Go back HOME to Zamboanga: the Portal to the Philippines.
→Economy of Belgium
| Line 361: | Line 361: | ||
*Economy - overview: | *Economy - overview: | ||
:This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 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 retail arm of a Franco-Belgian bank. | :This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 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 retail arm of a Franco-Belgian bank. | ||
'''Belgium Economy''' has a free-enterprise economy, with the majority of the gross domestic product (GDP) generated by the service sector. The Belgian economy also is inextricably tied to that of Europe. The country has been a member of a variety of supranational organizations, including the Belgium-Luxembourg Economic Union (BLEU), the Benelux Economic Union, and the EU. The first major step Belgium took in internationalizing its economy occurred when it became a charter member of the European Coal and Steel Community in 1952. On Jan. 1, 1999, Belgium also became a charter member of the European Monetary Union, paving the way for the introduction of the euro, which became the country’s sole currency in 2002, replacing the Belgian franc. | |||
Historically, Belgium’s national prosperity was mainly dependent on the country’s role as a fabricator and processor of imported raw materials and on the subsequent export of finished goods. The country became a major steel producer in the early 19th century, with factories centred in the southern Walloon coal-mining region, particularly in the Sambre-Meuse valley. Rigorous monetary reform aided Belgium’s post-World War II recovery and expansion, particularly of the Flemish light manufacturing and chemical industries that developed rapidly in the north, and Belgium became one of the first European countries to reestablish a favourable balance of trade in the postwar world. By the late 20th century, however, coal reserves in Wallonia were exhausted, the aging steel industry had become inefficient, labour costs had risen dramatically, and foreign investment (a major portion of the country’s industrial assets are controlled by multinational companies) had declined. | |||
The government, in an effort to reverse the near-depression levels of industrial output that had developed, subsidized ailing industries, particularly steel and textiles, and offered tax incentives, reduced interest rates, and capital bonuses to attract foreign investment. These efforts were moderately successful, but they left Belgium with one of the largest budget deficits in relation to gross national product in Europe. The government was forced to borrow heavily from abroad to finance foreign trade (i.e., importing of foreign goods) and to sustain its generous social welfare system. In the early 1980s the government attempted to reduce the budget deficit; the debt-to-GDP ratio decreased as tighter monetary and fiscal policies were implemented by the central bank. Moreover, in the early 1990s the government decreased its subsidy to the social security system. By the early 21st century, Belgium had diversified its sources of social-security funding and succeeded in balancing its budget. Regionally, Flanders has attracted a disproportionate share of investment, but the national government has offered subsidies and incentives to encourage investment within Wallonia. Unemployment also has been less of a problem in Flanders, which has experienced significant growth in service industries, than in Wallonia, where the negative consequences of deindustrialization remain. | |||
*Agriculture, forestry, and fishing | |||
Only a small percentage of the country’s active population engages in agriculture, and agricultural activity has continued to shrink, both in employment and in its contribution to the GDP. About one-fourth of Belgium’s land area is agricultural and under permanent cultivation; more than one-fifth comprises meadows and pastures. Major crops are sugar beets, chicory, flax, cereal grains, and potatoes. The cultivation of fruits, vegetables, and ornamental plants also is important, particularly in Flanders. However, agricultural activity in Belgium centres primarily on livestock; dairy and meat products constitute more than two-thirds of the total farm value. | |||
Forage crops, barley, oats, potatoes, and even wheat are grown everywhere, but especially in the southeast. The region is one of striking contrasts: in the Condroz farms range in size from 75 to 250 acres (30 to 100 hectares), whereas in the Ardennes they are between 25 and 75 acres (10 to 30 hectares). | |||
The open countryside of north-central Belgium—Hainaut, Flemish Brabant, Walloon Brabant, and Hesbaye (the region of rolling land southwest of Limburg)—includes pastureland as well as intensive diversified cultivation of such crops as wheat, sugar beets, and oats; local variations include orchards in northern Hesbaye. Farms, with their closed courts, range in size from 75 to 250 acres (30 to 100 hectares). | |||
Most farms in the far north—maritime Flanders and the lower Schelde—range in size from 25 to 75 acres (10 to 30 hectares), some of which are under pasture, while the remainder are cultivated, with wheat and sugar beets again the dominant crops. Interior Flanders is devoted to grazing. Intensive cultivation is confined to gardens and small farms, which are usually smaller than 10 acres (4 hectares). Oats, rye, and potatoes are the chief crops; wheat, sugar beets, chicory, hops, flax, and ornamental plants (e.g., azaleas, roses, and begonias) also are grown in southwestern Flanders. | |||
The planted forests of the Ardennes and the Kempenland support Belgium’s relatively small forest-products industry. Growth of the forest industry after World War II has been aided by mechanization, allowing Belgium to reduce its reliance on imported timber. | |||
Belgium’s fishing industry is relatively small; almost all fish are consumed within the country. Zeebrugge and Ostend, the main fishing ports, send a modest fleet of trawlers to the North Sea fishing grounds. The harvesting of mussels is also an important industry in Belgium, with the mollusks being a popular menu item in restaurants throughout the country. | |||
*Resources and power | |||
Historically, coal was Belgium’s most important mineral resource. There were two major coal-mining areas. The coal in the Sambre-Meuse valley occurred in a narrow band across south-central Belgium from the French border through Mons, Charleroi, Namur, and Liège. Mined since the 13th century, these coal reserves were instrumental in Belgium’s industrialization during the 19th century. By the 1960s the easily extractable coal reserves were exhausted, and most of the region’s mines were closed. By 1992 mining had ceased there and in the country’s other major coal-mining area, in the Kempenland (Limburg province) in northeastern Belgium. Belgium now imports all its coal, which is needed for the steel industry and for domestic heating. | |||
During the 19th century, iron ore and zinc deposits in the Sambre-Meuse valley were heavily exploited. They too are now exhausted, but the refining of imported metallic ores remains an important component of Belgium’s economy. Chalk and limestone mining around Tournai, Mons, and Liège, which supports a significant cement industry, is of greater contemporary importance. In addition, sands from the Kempenland supply the glass-manufacturing industry, and clays from the Borinage are used for pottery products and bricks. Stones, principally specialty marbles, also are quarried. | |||
Belgium’s water resources are concentrated in the southern part of the country. Most streams rise in the Ardennes and flow northward; three-fourths of the country’s groundwater originates in the south. Since the largest concentration of population is in the north, there is a marked regional disjunction between water supply and demand. This problem is addressed through elaborate water-transfer systems involving canals, storage basins, and pipelines. Although reasonably plentiful, existing water supplies incur heavy demands from industrial and domestic consumers. Moreover, water pollution is a serious problem. In the south a modest hydroelectric power industry has developed along fast-moving streams. However, as nuclear reactors generate more than half of Belgium’s electricity, the use of water for cooling in nuclear power stations is much more significant. With the expansion of domestic and commercial needs in the late 20th and early 21st centuries, increasing attention focused on problems of water quality and supply. | |||
*Manufacturing | |||
The manufacturing sector accounts for about one-sixth of the GDP. Manufacturing is the major economic activity in the provinces of East Flanders, Limburg, and Hainaut. The corridor between Antwerp and Brussels also has emerged as a major manufacturing zone, eclipsing the older industrial concentration in the Sambre-Meuse valley. | |||
Metallurgy, steel, textiles, chemicals, glass, paper, and food processing are the dominant industries. Belgium is one of the world’s leading processors of cobalt, radium, copper, zinc, and lead. Refineries, located principally in the Antwerp area, process crude petroleum. Antwerp is also known for diamond cutting and dealing. The lace made in Belgium has been internationally renowned for centuries. To combat the slow decline of this industry, which has been dependent on the handiwork of an aging population of skilled women, specialized schools were established in Mons and Binche to train younger workers. | |||
Foreign investment led to considerable growth in the engineering sector of Belgium’s economy in the late 20th century. The country has assembly plants for foreign automakers, as well as for foreign firms manufacturing heavy electrical goods. Moreover, Belgium has a number of important manufacturers of machine tools and specialized plastics. | |||
*Finance | |||
The economic importance of the financial sector has increased significantly since the 1960s. Numerous Belgian and foreign banks operate in the country, particularly in Brussels. The National Bank, the central bank of Belgium, works to ensure national financial security, issues currency, and provides financial services to the federal government, the financial sector, and the public. The European Central Bank is now responsible for the formulation of key aspects of monetary policy. An important stock exchange was founded in Brussels in the early 19th century. In 2000 it merged with the Amsterdam and Paris stock exchanges to form Euronext—the first fully integrated cross-border equities market. Belgium has long been a target of significant foreign investment. Foreign investments in the energy, finance, and business-support sectors are of particular significance in 21st-century Belgium. | |||
*Trade | |||
Among Belgium’s main imports are raw materials (including petroleum), motor vehicles, chemicals, textiles, and food products. Major exports include motor vehicles, chemicals and pharmaceutical products, machinery, plastics, diamonds, food and livestock, textile products, and iron and steel. | |||
Belgium’s principal trade partners are the member countries of the EU, particularly Germany, France, the Netherlands, and the United Kingdom. | |||
*Services | |||
Spurred by the expanding needs of international business and government as well as the growth of tourism, especially in western Flanders and the Ardennes, the service sector grew tremendously in the second half of the 20th century. Flanders in particular enjoyed an economic boom because of the growth of service industries. Today the overwhelming majority of the Belgian labour force is employed in private and public services. | |||
*Labour and taxation | |||
After the service industries, manufacturing and construction enterprises are the largest employers. Agriculture and mining employ only a tiny percentage of the labour force. About half of Belgian workers belong to labour unions. | |||
The Belgian government levies taxes on income as well as on goods and services. These taxes, along with social security contributions, provide the bulk of the national revenue. Regions and local units of government also may levy taxes. | |||
*Transportation and telecommunications | |||
Belgium has an extensive system of main roads, supplemented by modern expressways that extend from Brussels to Ostend by way of Ghent and Brugge, from Brussels to Antwerp, from Brussels to Luxembourg city by way of Namur, and from Antwerp to Aachen (Ger.) by way of Hasselt and Liège. Other expressways include those from Antwerp to Kortrijk by way of Ghent and from Brussels to Paris through Mons and Charleroi. | |||
The railway network, a state enterprise, is one of the densest in the world. Brussels is the heart of the system, the centre of a series of lines that radiate outward and link the capital to other cities both inside and outsi | |||
de the country. The heaviest traffic is between Brussels and Antwerp. | |||
Antwerp handles a major portion of the country’s foreign trade through its port. Other important ports are Zeebrugge-Brugge, Ostend, Ghent, and Brussels. Navigable inland waterways include the Meuse and the Schelde, which are navigable throughout their length in Belgium. A canal from Charleroi to Brussels links the basins of the two main rivers through the Ronquières lock. The Albert Canal links Antwerp with the Liège region. A maritime canal connects Brugge and Zeebrugge; another connects Ghent and Terneuzen (Neth.), on the Schelde estuary; and a third links Brussels and Antwerp. | |||
The Brussels international airport is the centre of Belgian air traffic. Smaller international facilities are maintained at Antwerp, Liège, Charleroi, and Ostend. Partly owned by the state, an international airline, SABENA, operated from 1923 to 2001. Its place has been taken by Brussels Airlines. | |||
Belgium’s technologically advanced telecommunications network is well developed, with a number of companies offering traditional telephone, cellular telephone, cable, and other telecommunications services. Cellular telephone and Internet usage in Belgium is similar to that of other western European countries, although Belgians own fewer personal computers than their immediate neighbours. | |||
*GDP (purchasing power parity): $421.7 billion (2013 est.) | *GDP (purchasing power parity): $421.7 billion (2013 est.) | ||
| Line 367: | Line 428: | ||
:$422.5 billion (2011 est.) | :$422.5 billion (2011 est.) | ||
:note: data are in 2013 US dollars | :note: data are in 2013 US dollars | ||
*GDP (official exchange rate): $507.4 billion (2013 est.) | *GDP (official exchange rate): $507.4 billion (2013 est.) | ||
*GDP - real growth rate: 0.1% (2013 est.) | *GDP - real growth rate: 0.1% (2013 est.) | ||
:country comparison to the world: 197 | :country comparison to the world: 197 | ||
:-0.3% (2012 est.) | :-0.3% (2012 est.) | ||
:1.8% (2011 est.) | :1.8% (2011 est.) | ||
*GDP - per capita (PPP): $37,800 (2013 est.) | *GDP - per capita (PPP): $37,800 (2013 est.) | ||
:country comparison to the world: 31 | :country comparison to the world: 31 | ||
| Line 380: | Line 438: | ||
:$38,400 (2011 est.) | :$38,400 (2011 est.) | ||
:note: data are in 2013 US dollars | :note: data are in 2013 US dollars | ||
*Gross national saving: 19.2% of GDP (2013 est.) | *Gross national saving: 19.2% of GDP (2013 est.) | ||
:country comparison to the world: 81 | :country comparison to the world: 81 | ||
:19.6% of GDP (2012 est.) | :19.6% of GDP (2012 est.) | ||
:20.8% of GDP (2011 est.) | :20.8% of GDP (2011 est.) | ||
*GDP - composition, by end use: | *GDP - composition, by end use: | ||
:household consumption: 53.7% | :household consumption: 53.7% | ||
| Line 394: | Line 450: | ||
:imports of goods and services: -81.5% | :imports of goods and services: -81.5% | ||
(2013 est.) | (2013 est.) | ||
*GDP - composition, by sector of origin: | *GDP - composition, by sector of origin: | ||
:agriculture: 0.8% | :agriculture: 0.8% | ||
:industry: 22.6% | :industry: 22.6% | ||
:services: 76.6% (2013 est.) | :services: 76.6% (2013 est.) | ||
*Agriculture - products: sugar beets, fresh vegetables, fruits, grain, tobacco; beef, veal, pork, milk | *Agriculture - products: sugar beets, fresh vegetables, fruits, grain, tobacco; beef, veal, pork, milk | ||
*Industries: engineering and metal products, motor vehicle assembly, transportation equipment, scientific instruments, processed food and beverages, chemicals, base metals, textiles, glass, petroleum | *Industries: engineering and metal products, motor vehicle assembly, transportation equipment, scientific instruments, processed food and beverages, chemicals, base metals, textiles, glass, petroleum | ||
*Industrial production growth rate: 0.2% (2013 est.) | *Industrial production growth rate: 0.2% (2013 est.) | ||
:country comparison to the world: 163 | :country comparison to the world: 163 | ||
*Labor force: 5.15 million (2013 est.) | *Labor force: 5.15 million (2013 est.) | ||
:country comparison to the world: 73 | :country comparison to the world: 73 | ||
*Labor force - by occupation: | *Labor force - by occupation: | ||
:agriculture: 2% | :agriculture: 2% | ||
:industry: 25% | :industry: 25% | ||
:services: 73% (2007 est.) | :services: 73% (2007 est.) | ||
*Unemployment rate: 8.8% (2013 est.) | *Unemployment rate: 8.8% (2013 est.) | ||
:country comparison to the world: 97 | :country comparison to the world: 97 | ||
:7.6% (2012 est.) | :7.6% (2012 est.) | ||
*Population below poverty line: 15.2% (2007 est.) | *Population below poverty line: 15.2% (2007 est.) | ||
*Household income or consumption by percentage share: | *Household income or consumption by percentage share: | ||
:lowest 10%: 3.4% | :lowest 10%: 3.4% | ||
:highest 10%: 28.4% (2006) | :highest 10%: 28.4% (2006) | ||
*Distribution of family income - Gini index: 28 (2005) | *Distribution of family income - Gini index: 28 (2005) | ||
:country comparison to the world: 125 | :country comparison to the world: 125 | ||
:28.7 (1996) | :28.7 (1996) | ||
*Budget: | *Budget: | ||
:revenues: $241.9 billion | :revenues: $241.9 billion | ||
:expenditures: $258.2 billion (2013 est.) | :expenditures: $258.2 billion (2013 est.) | ||
*Taxes and other revenues: 47.7% of GDP (2013 est.) | *Taxes and other revenues: 47.7% of GDP (2013 est.) | ||
:country comparison to the world: 16 | :country comparison to the world: 16 | ||
*Budget surplus (+) or deficit (-): -3.2% of GDP (2013 est.) | *Budget surplus (+) or deficit (-): -3.2% of GDP (2013 est.) | ||
:country comparison to the world: 128 | :country comparison to the world: 128 | ||
*Public debt: 102.4% of GDP (2013 est.) | *Public debt: 102.4% of GDP (2013 est.) | ||
:country comparison to the world: 15 | :country comparison to the world: 15 | ||
:99.6% of GDP (2012 est.) | :99.6% of GDP (2012 est.) | ||
:note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions; general government debt is defined by the Maastricht definition and calculated by the National Bank of Belgium as consolidated gross debt; the debt is defined in European Regulation EC479/2009 concerning the implementation of the protocol on the excessive deficit procedure annexed to the Treaty on European Union (Treaty of Maastricht) of 7 February 1992; the sub-sectors of consolidated gross debt are: federal government, communities and regions, local government, and social security funds | :note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions; general government debt is defined by the Maastricht definition and calculated by the National Bank of Belgium as consolidated gross debt; the debt is defined in European Regulation EC479/2009 concerning the implementation of the protocol on the excessive deficit procedure annexed to the Treaty on European Union (Treaty of Maastricht) of 7 February 1992; the sub-sectors of consolidated gross debt are: federal government, communities and regions, local government, and social security funds | ||
*Fiscal year: | *Fiscal year: | ||
:calendar year | :calendar year | ||
| Line 449: | Line 490: | ||
:country comparison to the world: 36 | :country comparison to the world: 36 | ||
:2.6% (2012 est.) | :2.6% (2012 est.) | ||
*Central bank discount rate: 0.75% (31 December 2013) | *Central bank discount rate: 0.75% (31 December 2013) | ||
:country comparison to the world: 127 | :country comparison to the world: 127 | ||
:1.5% (31 December 2010) | :1.5% (31 December 2010) | ||
:note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area | :note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area | ||
*Commercial bank prime lending rate: 3.5% (31 December 2013 est.) | *Commercial bank prime lending rate: 3.5% (31 December 2013 est.) | ||
:country comparison to the world: 161 | :country comparison to the world: 161 | ||
:3.62% (31 December 2012 est.) | :3.62% (31 December 2012 est.) | ||
*Stock of narrow money: $185.1 billion (31 December 2013 est.) | *Stock of narrow money: $185.1 billion (31 December 2013 est.) | ||
:country comparison to the world: 21 | :country comparison to the world: 21 | ||
:$185.7 billion (31 December 2012 est.) | :$185.7 billion (31 December 2012 est.) | ||
:note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders | :note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders | ||
*Stock of broad money: $591.7 billion (31 December 2013 est.) | *Stock of broad money: $591.7 billion (31 December 2013 est.) | ||
:country comparison to the world: 21 | :country comparison to the world: 21 | ||
:$585 billion (31 December 2012 est.) | :$585 billion (31 December 2012 est.) | ||
*Stock of domestic credit: $581.4 billion (31 December 2013 est.) | *Stock of domestic credit: $581.4 billion (31 December 2013 est.) | ||
:country comparison to the world: 23 | :country comparison to the world: 23 | ||
:$574.8 billion (31 December 2012 est.) | :$574.8 billion (31 December 2012 est.) | ||
*Market value of publicly traded shares: $NA (31 December 2012 est.) | *Market value of publicly traded shares: $NA (31 December 2012 est.) | ||
:$NA (31 December 2011) | :$NA (31 December 2011) | ||
:$269.3 billion (31 December 2010 est.) | :$269.3 billion (31 December 2010 est.) | ||
*Current account balance: -$9.1 billion (2013 est.) | *Current account balance: -$9.1 billion (2013 est.) | ||
:country comparison to the world: 175 | :country comparison to the world: 175 | ||
:-$6.65 billion (2012 est.) | :-$6.65 billion (2012 est.) | ||
*Exports: $295.3 billion (2013 est.) | *Exports: $295.3 billion (2013 est.) | ||
:country comparison to the world: 21 | :country comparison to the world: 21 | ||
:$302.4 billion (2012 est.) | :$302.4 billion (2012 est.) | ||
*Exports - commodities: machinery and equipment, chemicals, finished diamonds, metals and metal products, foodstuffs | *Exports - commodities: machinery and equipment, chemicals, finished diamonds, metals and metal products, foodstuffs | ||
*Exports - partners: Germany 18%, France 16.1%, Netherlands 13%, UK 7.3%, US 5.3%, Italy 4.4% (2012) | *Exports - partners: Germany 18%, France 16.1%, Netherlands 13%, UK 7.3%, US 5.3%, Italy 4.4% (2012) | ||
*Imports: $310.2 billion (2013 est.) | *Imports: $310.2 billion (2013 est.) | ||
:country comparison to the world: 18 | :country comparison to the world: 18 | ||
:$311.1 billion (2012 est.) | :$311.1 billion (2012 est.) | ||
*Imports - commodities: raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, oil products | *Imports - commodities: raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, oil products | ||
*Imports - partners: Netherlands 20.9%, Germany 14.2%, France 10.6%, US 6.1%, UK 5.5%, Ireland 4.4% (2012) | *Imports - partners: Netherlands 20.9%, Germany 14.2%, France 10.6%, US 6.1%, UK 5.5%, Ireland 4.4% (2012) | ||
*Reserves of foreign exchange and gold: $30.77 billion (31 December 2012 est.) | *Reserves of foreign exchange and gold: $30.77 billion (31 December 2012 est.) | ||
:country comparison to the world: 52 | :country comparison to the world: 52 | ||
:$29.43 billion (31 December 2011 est.) | :$29.43 billion (31 December 2011 est.) | ||
*Debt - external: $1.424 trillion (31 December 2012 est.) | *Debt - external: $1.424 trillion (31 December 2012 est.) | ||
:country comparison to the world: 14 | :country comparison to the world: 14 | ||
:$1.417 trillion (31 December 2011) | :$1.417 trillion (31 December 2011) | ||
*Stock of direct foreign investment - at home: $1.195 trillion (31 December 2013 est.) | *Stock of direct foreign investment - at home: $1.195 trillion (31 December 2013 est.) | ||
:country comparison to the world: 6 | :country comparison to the world: 6 | ||
:$1.159 trillion (31 December 2012 est.) | :$1.159 trillion (31 December 2012 est.) | ||
*Stock of direct foreign investment - abroad: $1.215 trillion (31 December 2013 est.) | *Stock of direct foreign investment - abroad: $1.215 trillion (31 December 2013 est.) | ||
:country comparison to the world: 7 | :country comparison to the world: 7 | ||
:$1.185 trillion (31 December 2012 est.) | :$1.185 trillion (31 December 2012 est.) | ||
*Exchange rates: euros (EUR) per US dollar - | *Exchange rates: euros (EUR) per US dollar - | ||
:0.7634 (2013 est.) | :0.7634 (2013 est.) | ||