ECONOMY

Belgium is living from its trade with foreign countries. It is situated between big countries (Germany, France, the UK) and some little countries (The Netherlands, Luxemburg). Belgium is situated central in Europe. This is the reason why a lot of international organizations (NATO, EU,...) and multinationals place their European headquarters in Belgium. Trade traffic between neighborcountries goes through Belgium. This is why Belgian traders accept so much different currencies and why they like the idea of a common European currency (Euro).

The present currency (until 2002 when the Euro appears) is the Belgian-Luxemburg Frank (BLXF) which is used both in Belgium and Luxemburg (Letzenburg, Luxembourg), who are the two members of the monetary union "Belgian-Luxemburg Economical Union". The coins and the notes have the same sizes in both countries, but have different appearances in both countries. They can be used in both countries. To know its present exchange rate: use Travlang's Currency Exchange Rates.

Together with The Netherlands and Luxemburg, Belgium is a part of the local trade union "Benelux". Belgium is a part too of the bigger trade union "European Union" on the continent "Europe".