National Bank of Belgium - Annual Report 2005

According to the National Bank of Belgium's Annual Report 2005, the overall performance of the euro area conceals highly divergent results across countries.

Growth was around 5 p.c. in Ireland and practically zero in Italy. Belgium's growth, which slowed from 2.4 p.c. in 2004 to 1.5 p.c. in 2005, once again exceeded the euro area average, albeit very slightly this time.

After declining in the first half of the year, foreign sales recovered in the second half and, taking the year as a whole

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