Belgium
The light green area is the rest of the European Union
Belgium is the 23rd largest economy in the world by nominal GDP in 2018. GDP per capita is $46,556, which is above the average for high income and OECD countries. In 2018, trade was around 175 percent of GDP reflecting Belgium's central location in Western Europe, its multi-lingual workforce, and its efficient transport infrastructure — Belgium was ranked third in the world in the World Bank's Logistical Performance Index for 2018. It is a member of the EU and OECD. The EU and NATO are headquartered in Brussels. Services was the largest economic sector in 2018 (69 percent of GDP), followed by manufacturing (12.8 percent), and agriculture (0.7 percent). In 2017, the largest export sectors were chemicals (23.6 percent), services (22 percent), agriculture (10.3 percent), vehicles (9.09 percent), and machinery (8.8 percent). The largest individual exports were ICT services (13 percent), cars (5.74 percent), refined petroleum (4.8 percent), transport services (4.8 percent), medicaments (4.6 percent), and diamonds (2.9 percent). Its largest export partners were Germany (16.75 percent), France (15 percent), the Netherlands (11.92 percent), and the UK (7.83 percent). The largest goods imports were cars (7.4 percent), diamonds (4.64 percent), refined petroleum (4.43 percent), and medicaments packaged (4.3 percent). Belgium was one of the first countries to industrialise in continental Europe. Industry is concentrated around Brussels, Liège and Charleroi. The country quickly recovered after World War Two benefiting from its limited destruction during the war and from the Marshall Plan. It has a played key role in the development of the EU with its close political and economic integration with the Netherlands and Luxembourg (Benelux) providing a driving force. Benelux began with a customs union in 1944, became an economic union in 1958, and a new treaty was signed in 2008 to continue and further integration within the EU. The role of government expanded between the 1960s and 1980s and public debt increased but this was addressed with fiscal reforms in the 1980s and 1990s. The global financial crisis led to a banking crisis, with leading bank Fortis nationalised and 75 percent then sold to BNP Paribas. Since the crisis, growth has been slower, but Belgium remains one of the most competitive economies in Europe.