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Economic Condition of Belgium and Its International Trade

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Belgium is a country in Western Europe which is a sovereign state. Belgium is bordered by the Netherlands, Germany, Luxembourg, France and the North Sea. It has a total area of 30,528 square kilometers (11,787 sq mi). The capital and largest city of Belgium is Brussels. The population of Belgium is more than 11.4 million.

We want to break the taboo and market our product “Shokhee Tampons” into Bangladesh. In Bangladesh, there is no manufacturer company, which produces tampons. This report is based on famine product for which why we have chosen tampons as our product and to develop a promotional plan for our brand “Shokhee tampons” because we want to create menstrual awareness not only the women but also man through introducing our product. So this very product we introduce in our local market so that people in general get ideas about safety measures.

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Belgium’s GDP:

Belgium’s economy is a highly productive work force with high GNP and high exports per capita. From Table -1 we can see that quarterly GDP growth of Belgium remain constant by 0.3% in the year of 2018. The year-on-year change in 4th quarter GDP was 1.2%, which is 0.4% less than the 3rd quarter of 2018. Annual GDP per capita of Belgium is $46,553 and has a quarterly GDP per capita of $9,872 in the year of 2018.

Belgium’s Exports:

Belgium’s main exports are refined petroleum, diamonds, petroleum gas, gold and coffee. They export $18.1 billion worth of refined petroleum annually. Exports Diamonds worth of $15.9 billion, petroleum gas $4.56 billion, gold $1.67 billion and coffee $987 million annually (Table-2). Other notable exports are cars, packaged medicaments, medical instruments etc.

Belgium’s Imports:

Belgium’s main imports are refined petroleum, diamonds, crude petroleum, bananas and scrap copper. They imports refined petroleum $15.9 billion, diamonds $15.4 billion, crude petroleum $11.5 billion, bananas $1.23 billion and scrap copper $1.04 billion annually (Table-3). Other noticeable imports are computers, cars, vehicle parts, human and animal blood etc.

Belgium’s Exchange Rate Trends:

From graph below (Figure-4, 5, 6) we can see that Belgium Euro faced a sharp drop in the year of 2015. They able to maintain an upward trend in their exchange rate. No major fluctuation has been seen since 2010 to 2018.

Conclusion:

Belgium’s current population is over 11.4 million, has a GDP per capita of $46,553 and annual GDP growth is about 1.9%. Their major exports are refined petroleum, diamonds, petroleum gas and major imports are refined petroleum, diamonds, bananas and scrap copper. Their Euro Dollar exchange rate does not fluctuate much but in year 2010 and 2015 a sharp decreased has been seen. In the year 2016 Belgium was 11th largest trading nation in the world.

We have targeted the both male and female who are living in the urban area of Bangladesh who use sanitary napkins during their menstruation. We want to give them a premium option to choose from which a subsidiary of sanitary napkins. As tampons never been introduced to Bangladesh before, so we have the great opportunity to bring something which is new to our society.The unique selling proposition of the brand “Shokhee” tampons are the attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe they are unique and could not find to the same extent with a competing brand as it is a very new product in this country. Our product attributes and benefit is that our product is good enough to keep them comfortable and dry as it has high absorption power. Not only that, our product will be available at a competitive price which will help them to maintain economic balance. So it can be used as an alternative for the so called sanitary napkins which has so many negative side including health and environmental issues.

Feature based positioning focuses on one or two of the product’s best features/ benefits, relative to the competitive offerings. The main features of “Shokhee” tampon will be that this is more hygienic, dry and comfortable compared to any sanitary napkins also the product is biodegradable.

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