Belgium has what is called an ‘open financial system’ and has an extended historical past of worldwide commerce and worldwide freight going proper again to the Center Ages. Bruges and Antwerp have been locations the place merchants from proper world wide got here collectively. Bruges was the place the place the ‘inventory market’ originated and within the 16th Century, Antwerp turned the centre of loans to international locations worldwide. This lengthy and illustrious historical past of worldwide commerce has spawned the institution of a thriving freight companies trade, made up of a dynamic community of delivery firms and freight forwarding companies.
On the finish of the 19th and starting of the 20th century, Belgian industrialists have been key facilitators of opening up massive and small international locations worldwide. Due to the big proportion of worldwide commerce in GDP, and the big quantity of overseas funding in Belgium, Belgium has been referred to as the proper instance of an open financial system. This has been consolidated by the big presence of worldwide organisations in Belgium and the truth that their workers inject a big sum of money into the Belgian financial system. Freight firms have been in a position to gear up and develop their companies assured that the Belgian financial system is strong and that the port infrastructure in Belgium is being developed and can proceed to underpin the worldwide freight market.
The typical worth of export and import of products as a share of GDP is a staggering 83% which is the best share out of all of the international locations within the European Union. Little surprise then that the freight transport sector in Belgium is so buoyant. What’s extra, Belgium additionally lays declare to the best share of worldwide GDP accounted for by overseas direct funding.
Accounting for lower than zero.2% of the world’s inhabitants, Belgium however has a market share of three.four% of exports and three% of imports and is ranked tenth for worldwide commerce in items. Belgium is in actual fact the world chief by way of export per capita, so can really lay declare to being a world chief in freight transport. Many a freight firm and delivery firm the world over has regarded in direction of the freight companies trade with the intention to study from finest apply.
Roughly 20% of Belgian exports concerned in freight forwarding is made up of client items. Intermediate items make up 60%. These are primarily machines and tools, which account for over 28% of exports and chemical and allied merchandise account for nearly 22% of worldwide freight international haulage.
Belgium export worldwide freight additionally embody substantial numbers of automobiles as automotive meeting is a crucial sector in Belgium. Imagine it or not, roughly 95% of the 900,000 automobiles assembled by Volvo, Opel, Volkswagen and Ford in Belgium are exported. Automobiles make up nearly 15% of Belgian exports. Plastics make up round three% while pharmaceutical merchandise and natural chemical merchandise make up round 5% every. Metals resembling iron and metal and non ferrous metals make up over four% and meals stuffs make up nearly 9%.
Different highlights throughout the freight transport market embody the truth that Belgium is the world’s largest exporter of diamonds and carpets and is the second largest exporter of plant fibres, chocolate and margarine. It’s also the third largest world exporter of glass and the fourth largest within the export of eggs, non alcoholic drinks and automobiles.
Export to the opposite EU international locations accounts for 3 quarters of all of Belgium’s exports, so the freight transport channels and techniques between these international locations have been streamlined and maximised. European counties outdoors the EU account for an additional 7%. Asia accounts for over 9% and the US about 5%. The excessive significance of commerce with different European international locations is introduced into sharp focus by the truth that half of all the products which are processed within the port of Antwerp come from or are going to different European international locations.