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Economic Engine
As the largest city in Flanders and a major gateway to the wider region, the city of Antwerp is a major economic engine not only in Belgium but in Europe at large. The city accounts for more than one sixth of the nation’s GDP and employs more than one eighth of the population of Flanders.
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Gross Domestic Product Of Belgium’s total GDP, the Antwerp region is good for around 17% or €57.3 billion. When measured per capita by purchasing power parity, the figure is some 34% above the E.U. average. Though the Belgian economy is closely linked to that of Europe, it has succeeded in slightly outgrowing its major trading partners in the Euro zone, booking an average growth of 1.9% since 1998 compared with 1.8% for the whole of Europe.
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Antwerp means business Antwerp offers a highly favourable economic climate for businesses from every sector of the market. While the services sector accounts for the vast majority of all business in the wider region of Antwerp (some 75% in total), the massive growth experienced by this sector has been closely matched by advances in the industrial sector. The latter now represents one fifth of the city’s economic activity. The resultant diversification places Antwerp in an even stronger position to exploit synergies and economies of scale in the interests of stimulating further growth.
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Economic Decision Power In terms of turnover, added value and investments, businesses in the Antwerp region have proven considerably resilient to the current economic downturn and continue to book sound results. Employment opportunities also remain stable with the city having grown by 5% over the past decade, now good for one eighth of all jobs in Flanders. Antwerp’s high EDP is just one indicator of a healthy entrepreneurial climate ready for the challenges of the future.
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