Economy of Belgium force. One of the founding members of the European Community, Belgium strongly supports deepening the powers of the present-day European Union to integrate European economies further. About three-quarters of its trade is with other EU countries. Together with the Netherlands and Luxembourg, Belgium is also one of Benelux member states. Belgium's public debt is about 105% of GDP. The government succeeded in balancing its budget during the 2000–2008 period, and income distribution is relatively equal. Belgium began circulating the euro currency in January 2002. Economic growth and foreign direct investment dropped in 2008. In 2009 Belgium suffered negative growth and
Belgium in the Formula One World Championship. Belgium also has a strong reputation in, motocross with the rider Stefan Everts. Sporting events annually held in Belgium include the Memorial Van Damme athletics competition, the Belgian Grand Prix Formula One, and a number of classic cycle races such as the Tour of Flanders and Liège–Bastogne–Liège. The 1920 Summer Olympics were held in Antwerp. The 1977 European Basketball Championship was held in Liège and Ostend. Belgium Belgium officially the Kingdom of Belgium, is a country in Western Europe bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast,