This small, stable, high-income economy – benefiting from its proximity to France, Belgium, and Germany – has historically featured solid growth, low inflation and low unemployment. The industrial sector, initially dominated by steel, has become increasingly diversified to include chemicals, rubber, and other products.
Growth in the financial sector, which now accounts for about 28% of GDP, has more than compensated for the decline in steel. Most banks are foreign owned.
The economy depends
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