Economic studies

A "diamond in the rough", that is perhaps the best way to describe Angola. After all, the country has a wealth of natural resources, which must be exploited in a sustainable manner.

Beyond its petroleum and mining resources, the specific geographic and topographical situation provides a thriving primary sector, both at the level of fishing and agriculture and in terms of natural energy resource capacity.

The country has shown remarkable economic growth over the last ten years, making it the third largest economy in Africa today.

The economic mission to Angola will mainly highlight three of the most dynamic sectors: energy, infrastructure and construction, as well as the diamond sector.

This study was realised in September 2013, in the context of the Belgian economic missions to Angola and South Africa.

Document only available in French and Dutch.

Argentina is still the 21st economic power in the world despite the difficulties of the past decade. Despite sudden spikes and the long-term macroeconomic outlook appears to be under control and Argentina once again is able to borrow from international markets, the potential will only really start to show. A new growth phase, based more than ever on cooperation with other countries, is therefore approaching.

This study was realised in the context of the Belgian economic mission to Argentina & Uruguay in June 2018.

Document only available in French and Dutch.

Australia's unique position, with a time zone close to the Asian markets, is an asset for those wishing to develop their activities in the Indo-Pacific. The country is not just a regional hub, but also offers a competitive market with a population with high purchasing power. With the exception of the health crisis, the world's twelfth largest economy has enjoyed continuous growth for over thirty years. The study devotes a chapter to the natural resources and renewable energy sectors, as well as to the health sector in Australia.

In a complex geo-economic context, Australia is seeking to diversify its partners and secure its trade with the rest of the world. As an open and prosperous economy, Australia is particularly interconnected with global value chains. Since the turn of the century, the country has pursued a proactive trade policy, concluding numerous free trade agreements with key markets in the Indo-Pacific. The expected free trade agreement between Brussels and Canberra will strengthen the opportunities offered by Australia to Belgian companies.

The study was realised by the Belgian Foreign Trade Agency, which, with its partners the FPS Foreign Affairs, Flanders Investment & Trade, the Wallonia Export-Investment Agency (AWEX) and hub.brussels, is organising a joint economic mission to Australia from 19 to 28 October 2023, under the Presidency of HRH Princess Astrid, Representative of His Majesty the King.

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

Brazil, Latin America’s economic powerhouse, is a crucial market of this subcontinent. It is among the top 10 largest economies worldwide in terms of nominal GDP. In addition to a substantial consumer market, the country boasts plentiful resources in numerous sectors, such as agriculture, mining, and energy. The country has an array of economic tools at its disposal ensuring its stability, attractiveness, and development.

This study provides keys for better understanding and comprehension of this country, its economy and its consumers. It highlights the States of São Paulo and Rio de Janeiro, stops during this mission, but also deals with the intricacies and specificities of other States of the Brazilian Federation.

Brazil, a member of Mercosur, maintains diversified but privileged trade relations with China, the EU and the United States. The study addresses the country's trade policy and external trade in light of a future agreement between Mercosur and the European Union.

In addition, the study provides myriad key sectors of the Brazilian economy: agribusiness, renewable energy and infrastructure. Hydropower accounts for 87% of the produced electricity, a milestone. However, a diversification of the energy mix is preferred by means of renewable energy sources. Agribusiness represents over 7% of GDP and 40% of foreign trade; the country is the leading global producer of soybeans, coffee, sugar cane and beef. In terms of infrastructure, numerous programs have been launched; the focus is on significant investments in the (rail) road, inland waterway and maritime networks to provide modal interoperability, unique in South America.

The study was carried out by the Belgian Foreign Trade Agency, in the context of the joint economic mission to Brazil from 22 November to 1 December 2024, presided by HRH Princess Astrid, Representative of His Majesty the King and organised in partnership with the FPS Foreign Affairs, Flanders Investment & Trade, AWEX and hub.brussels.

Document only available in French and Dutch.