preview

Belgium : The Country Of The European Union And A Country With Limited Resources

Good Essays

OVERVIEW OF BELGIUM
Belgium is located in the heart of Europe, the capital, Brussels is the political hub of the European Union and a country with limited resources, it is one of the most flourishing countries in the world. The country has a population of 10.7 million people and a GDP per capita of US $35,238. The competition policy is set by the European Union; its budget deficit attained a high of 4.3% GDP in 2010.

DETERMINANTS OF BELGUIM COMPETITIVENESS
In 2010, based on a number of determinants, Belgium as the 16th most competitive country in the world. Being a country that has constantly maintained the principle of sustainability, they have shown transparency in the commodity sector, which is heavily equipped with a well-developed …show more content…

The top notch pharmaceutical cluster in Belgium remains a marvel especially when related to its market size as compared to larger markets such as France or that of Germany, notwithstanding this, the country remains prosperous especially as a result of the affiliation with the European Union which provides for it a well structured infrastructure and beyond (strength in numbers, 2012). Belgium has a low productivity per worker and reduced labor force participation although, remaining consistent it stands comparable with Germany or that of France. One would wonder about the validity of the interconnectedness within the value chain; in Belgium however, each aspect of this chain is divided into sub activities. The research and development phase consists of drug screening, pre-clinical trials, clinical trials and the new drug approval whereas the supply chain phase deals with the manufacturing process, marketing, distribution and actual sales. Now over the last 30 years, Belgium has experienced at least 10% in annual sales growth maintaining a progressive strength. However, Canada and Europe constitute about 70% of the global sales this is not inclusive of other customers such as Asia, Africa and Latin America.

SOURCES OF COMPETITIVE ADVANTAGE The plastics and chemical clusters are tightly linked to the pharmaceutical sector, hence creating important competitive companies. There

Get Access