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1994-05-02
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<text>
<title>
Belgium: World Trade Outlook
</title>
<article>
<hdr>
World Trade Outlook 1992: Belgium-Luxembourg
Belgian Economy Edges Up, May Grow 2 Percent in '92
</hdr>
<body>
<p>By Simon Bensimon
</p>
<p>Belgium's slowing economy is expected to edge ahead in 1992.
Despite the economic slowdown which has gripped Europe since
1990, Belgian real GNP in 1992 should rise by
</p>
<p>U.S. exports 1991--$10.8 billion U.S. imports 1991--$4.1
billion
</p>
<p>2 percent--up from a 1.4 percent gain last year. The recovery
will be spurred mostly by a small increase in exports to
Belgium's two main trading partners--the Netherlands and
Germany; a 5 percent growth in the construction sector; and a
modest rise in private consumption. Rising unemployment and a
high level of public debt remain causes for concern. Overall,
however, Belgium continues to be a leader among the group of
best-performing economies among the 12 member nations of the
European Community (EC). Other positive developments in 1992
include an anticipated small rise in corporate investment (3
percent) and expected declines in inflation and hourly wage
costs in industry.
</p>
<p> These developments will help keep Belgium as the United
States' fifth largest market in western Europe and tenth largest
worldwide. The U.S. share of the Belgian market in manufactured
goods currently is 7.7 percent. Only in the Netherlands,
Ireland, and the United Kingdom do American goods enjoy a higher
market share.
</p>
<p> Best export prospects include tobacco products, coal, and a
wide variety of products and equipment for the following
industries: avionics and ground support, automatic data
processing, plastics and chemicals, civil engineering, textile
yarns and fabrics, apparel, insecticides, pulp and waste paper,
agricultural machinery, medical and dental, pharmaceuticals,
motor vehicles, auto parts and auto maintenance, pollution
control, and a range of consumer goods for niche markets.
</p>
<p> Exporters wishing to tackle the Belgian market are encouraged
to try a variety of promotional aids available through the
Department of Commerce--including single company promotions,
gold key services, and matchmaker trade delegations.
</p>
<p> With 85 percent of its GNP generated by foreign trade,
Luxembourg also offers a small but receptive market for U.S.
goods and services. Exports in 1991 were up 62 percent to $217
million over the previous year. Despite an ongoing slump in the
steel industry--a key component of Luxembourg's industrial
base--the economy, fueled by an expansion in the services
industries, is expected to remain vibrant for the near future.
</p>
<p> Best sales prospects include customer-specific quality
consumer goods such as musical instruments; motor vehicles and
auto parts; printing and bookbinding machinery; and lighting
fixtures. Luxembourg's 1992 budget also affords U.S. firms major
opportunities in such areas as road infrastructure,
telecommunications, environmental protection, and education.
</p>
<p> For more information, call the Commerce Department's Belgium-
Luxembourg Desk on (202) 482-5401.
</p>
<p>Source: International Trade Administration, Business America Magazine
</p>
</body>
</article>
</text>