Walloon economy

The Walloon Économie is the principal competence of the Walloon region

Economic history

Walloon heavy industry (mines, iron and steel industry, metallurgy, glassmaking…) experienced a very strong development at the 19th century, especially in the basins of Liege and Charleroi. Belgium is then the first industrial nation of the continent.

However the decline starts in the first part of the 20th century. The first closings of mines in 1958 and later the crisis of the iron and steel industry (which was however entirely modernized and restored), involved painful reorganizations for Wallonia.

The situation is stabilized today and Wallonia seeks a new dynamism while drawing started from its position in the middle of Europe and while misant on new technologies. The Walloon Gouvernement also launched a recovery package which received the popular name of Marshall plan .

Distribution of the activity

Agriculture, sylviculture, fishing: 1,8 %
Industry, energy and buildings: 27,4 %
Services: 70,8 % (figures 2001)

Economic statistics

GDP: 61 582 million euros (2002)
PIB/habitant: 76,8 % of the average of the European areas (EU with 15 members, 2004, PPP)
Unemployment rate: 18,1 %, Belgian average 11,5 % (February 2007, method of calculating IWEPS)
Unemployment rate: 11,4 %, European average 8,2 % (2004, UE-15, Eurostat method of calculating)

Main markets of export

The 5 primary markets of export of the Area (figures 2005) are (except Belgium):

France: 34,39%
Germany: 14,15%
Netherlands: 8,14%
the United Kingdom: 6,14%
Italy: 5,33%

The majority of exports relate to the countries bordering.

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