International trade in services. A growing contribution to Belgium’s current balance
Service activities hold an ambiguous position in the economy. Although they represent a dominant share of activity and employment, they have only a minor position in international trade. Generally speaking, trade in services has therefore attracted less interest than trade in goods in the context of competitiveness policy, and economic research has paid less attention to it. Yet despite the low gross volume of international trade in services, the services balance has grown in Belgium over the past fifteen years. Compensating in part for the deteriorating balance of trade in goods, net exports of services have gradually become the primary driver of the current account balance. Belgium’s central position in the European economic fabric is one of the main contributory factors in the good performance of Belgium’s trade in services. This has led to the development of trade and logistics services, particularly thanks to the importance of the port of Antwerp in maritime traffic. Given its central position combined with the quality of its human capital, Belgium is also the location for the headquarters of the European institutions and several multinational bodies, and that is another decisive factor in the growth of service exports. However, Belgium’s good general performance in trade in services is not seen in all service categories. In particular, services connected with information and communication technologies have not grown particularly strongly. Yet these services constitute a growth catalyst that could benefit the whole economy, and the human capital needed for such a development is available in Belgium.
Volume (Year): (2011)
Issue (Month): iii (December)
|Contact details of provider:|| Postal: Boulevard de Berlaimont 14, B-1000 Bruxelles|
Phone: (+ 32) (0) 2 221 25 34
Fax: (+ 32) (0) 2 221 31 62
Web page: https://www.nbb.be/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:nbb:ecrart:y:2011:m:december:i:iii:p:53-68. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.