Economic studies

Because of its geographical isolation, New Zealand is home to very special fauna and flora, much of which is endemic. It is not only New Zealand's great biodiversity that is important, but also its primary sector, whether it be fishing, farming, forestry or natural energy resources, that is flourishing.

Over the last 20 years, the government has succeeded in transforming this agriculturally, geographically and economically isolated New Zealand into an industrialised economy with free trade. Like many other Anglo-Saxon countries since the 1990s, New Zealand experienced a period of very strong growth during the 2000s. This lasted until the global economic crisis, during which the decline of the New Zealand economy was relatively limited.

However, it is not only the natural resources and the primary sector that are important: New Zealand can also count on an internationally recognised film industry, without forgetting the importance of the construction and infrastructure sector.

During the economic mission to New Zealand, which was chaired by HRH Prince Philip from 27 to 30 November 2012, special attention was paid to these sectors.

This study was realised on the occasion of the Belgian economic mission to New Zealand in November 2012.

Document only available in French and Dutch.

With its unique geographical location and close ties to European markets, Norway offers a favorable business climate for those looking to expand their activities in Northern Europe. Trade in Norway accounts for 83% of GDP, with Belgium being the 4^th most important client. With the largest sovereign wealth fund in the world, the Government Pension Fund Global, Norway can ensure economic stability and prosperity and promote sustainable investments in the long term.

With the fourth-largest GDP per capita, it offers a level of prosperity significantly higher than that of many other countries, largely thanks to the oil and gas industry, which has played a crucial role as an engine of economic growth. In addition, the Norwegian economy also offers numerous other opportunities in various sectors. Norway has a rich maritime history that continues to contribute to the economy, particularly through marine aquaculture, fish processing, offshore wind energy, and shipbuilding. The country is a world leader in fish and seafood exports and heavily invests in green energy, with 88.1% of electricity generated from hydropower.

The study was conducted by the Belgian Foreign Trade Agency, which, together with its partners the Federal Public Service Foreign Affairs, hub.brussels, Flanders Investment & Trade, and the Wallonia Export-Investment Agency (AWEX), is organizing a joint economic mission to Norway from June 16 to 19, 2024, under the Presidency of HRH Princess Astrid.

Document only available in French and Dutch. Download the Dutch version here.

Oman has enjoyed a period of unprecedented economic progress over the last 40 years. This "boom" coincides with the reign of the current Sultan Qaboos bin Said al-Said, who came to power in 1970, and has been largely supported by the revenues of the oil sector (production and exports). In 2012, the oil sector accounted for almost 50% of GDP.

However, the high dependence on black gold makes the country vulnerable to shocks to the stock price of a barrel of crude oil. In response, the Sultanate launched Vision 2020 back in 1995, a long-term strategy built around three key components: "economic diversification, omanisation and privatisation". The key elements of this policy were subsequently developed and implemented through various five-year policy programmes, the most recent of which covers the period 2011-2015.

For the period 2013-2017, the Economist Intelligence Unit forecasts an average annual growth rate of 4.6%, 70% of which will be driven by growth in non-oil sectors, according to data from the Central Bank of Oman.

On the occasion of the joint Belgian economic mission to Oman (14-21 March 2014), the Belgian Foreign Trade Agency has published an economic study. The first chapter is devoted to Oman's macroeconomic situation, while the second contains an analysis of three dynamic sectors in which trade opportunities abound: infrastructure & logistics, energy & environment and the banking sector. This is followed by a selection of recent success stories of Belgian companies in Oman.

Document only available in French and Dutch.

Thanks to its fertile soil, Peru has many assets to attract investors. Significant growth since 2000 has earned the country the flattering nickname "Tiger of the Andes". Macroeconomic indicators are also excellent, including controlled inflation, an enviable public debt and comfortable foreign exchange reserves.

The various free trade agreements are proof of the country's international openness and attract foreign investors. The simplification of procedures and the reduction of tariff barriers are boosting trade relations and facilitating market access for companies, especially thanks to the signing of the bilateral treaty with the European Union in spring 2013.

Year after year, Peru rises in the various rankings that assess the attractiveness and competitiveness of countries. Peru is also rated the second best South American nation by credit rating agencies.  

On the occasion of the joint Belgian economic mission to Colombia and Peru from 18 to 25 October 2014, the Belgian Foreign Trade Agency published an 'economic study'. The first chapter is devoted to Peru's macroeconomic situation, while the second contains an analysis of four dynamic sectors in which trade opportunities abound: mines, energy, infrastructure and agro-industry. This is followed by a selection of recent success stories of Belgian companies in Peru.

Document only available in French and Dutch.