Czech republic

Denmark

Switzerland

Spain

The growth rate dropped in 2005 to 0,7% whereas it was 1,4% in 2004. The IMF envisages however a growth of 2% in 2006. The worsening of international economic conditions, in particular in Germany and a loss of competitiveness of the Dutch products are at the origin of this weak growth. Consumption, as well as the investments remained weak in 2005 (respectively +0,2% and +0,3%). The pillars of the economy are the foreign trade, industries of high technology and the services.

The agricultural sector contributes for 3% to the Dutch GDP. 60% of the agricultural production are exported. The principal cultures are the cereals, the potatoes and the horticulture. The breeding is an important sector. The Netherlands have important natural gas resources. The principal industrial sectors are the agroalimentary one, chemistry and petrochemistry. Printing works, the edition, electronics, pharmacy and the medical equipment are also important sectors. Lastly, the services are dominating and provide 70% of the GDP of the country.

The economy of the country is very dependent on the foreign trade. In value, exports and the imports Dutchwomen represented in 2003 respectively 51% and 45% of the GDP. The first three customers of the Netherlands are Germany, Belgium and the United Kingdom. The first three suppliers are Germany, Belgium and the United States. The Netherlands import mainly machines, goods of equipment, hydrocarbons and vehicles.

Member of the European Union since May 1, 2004, Poland has implemented for several years of important reforms which led the conditions of access to the Polish market to approach the European standards more and more. Poland is a major market: it represents half of the economic and demographic weight of the whole of the 10 new members of the European Union. The economic growth bent in 2005 because of the deceleration of the domestic demand and exports: the growth rate of the GDP was 5,3% in 2004 but only 3% in 2005. The IMF envisages a growth of 4% in 2006. The foreign investments are important, in particular in the activities of subcontracting.

Agriculture employs more of the quarter of the working population for a contribution from only 3,1% in the GDP. Manufacturing industry is the pillar of the economy and the services count for 66% of the GDP. Important outlets for trade exist on the Polish market, in particular in the following sectors: goods of equipment, telecommunications, environment, transport, construction and technologies information.

Poland carries out two thirds of its foreign trade with the European Union. The first three countries customers are Germany, France and Italy.
The first three supplying countries of Poland are Germany, Italy and Russia. Poland imports mainly machines and goods of equipment, goods manufactured and chemicals.

In 2004, Tunisia knew a third consecutive year of sustained high growth, because of the good performances of the two principal economic poles of the country: agriculture and tourism. The growth rate of the GDP was 5,6% in 2003, 5,8% in 2004 and 5% in 2005. The IMF estimated the growth for 2006 at 5,9%. Tunisia posts one of the best regional economic performances but must however face a high unemployment (15% of the working population), a public debt and high outside like with the need for diversifying its economy. Tunisia wants to become a regional pole in the field of the NTIC but this sector is not yet generating of growth.

The agricultural sector provides nearly 12% of the GDP and employs nearly the quarter of the working population. The outputs of agriculture are strongly dependent on the climatic risks. The principal cultures are the cereals and the olive oil. Tunisia is given some mining resources like oil, gas or iron. The country is one of the first world phosphate producers. Manufacturing industry contributes for 20% to the GDP, the textile being the principal activity. Tourism is very developed with more than five million visitors per annum.

Tunisia continues its policy of economic opening external begun in 1998 with the entry into force of the agreement from association with the Union. A vast free trade area between the south-Mediterranean EU and 12 countries whose Tunisia should installation by 2010. The first three trade partners of the country, with the importation as with export are France, Italy and Germany. The country imports mainly machines, hydrocarbons, goods of equipment and cotton.

The growth set out again with the fall in Switzerland in 2005. The growth rate of the GDP was 1,7% in 2004 and 0,8% in 2005. The IMF envisages a growth of 1,8% in 2006. The growth is partly due to the dynamics of domestic consumption and the resumption of exports (+4,5% in 2005). The rate of unemployment is into light fall since it passed from 4,4% in 2004 to 3,8% in 2005.
Despite everything, the Swiss economy has had structural problems with a low growth rate for one decade.

The agricultural sector provides 1,6% of the GDP. Agriculture is based on the bovine breeding and the dairy products. The Swiss authorities allocate many direct subsidies with the farmers answering strict ecological criteria like, for example, the protection of the ground. The culture of biological products is in full rise. The mining natural resources are almost non-existent. The industrial sector is characterized by the performances and the competitiveness of industries of high technology: chemistry, pharmacy, mechanics and clock industry. Switzerland has one of the best potentials in Europe in the field of biotechnologies. The agroalimentary sector holds an important place in particular thanks to Nestle or Lindt & Sprüngli. Lastly, the sector of the services has the principal role in the economy. Switzerland is famous for its bank secrecy and its attractive taxation and is the first money market in the world for the value of the offshore assets under management.

The European Union is the first trade partner of Switzerland with which it carries out the 2/3 of its foreign trade. The exchanges of industrial products between the EU and Switzerland are governed by the agreement of free trade of 1972 between the EU and Switzerland. On June 1, 2002, seven bilateral agreements came into effect between the EU and Switzerland. Exports add up 45% of the GDP. The principal customers of Switzerland are Germany, the United States and France. The first three suppliers are Germany, Italy and France. Switzerland imports mainly machines, pharmaceutical products, vehicles and goods of equipment.

The growth slowed down in 2005 after having recorded a sustained high growth in 2004. The growth rate of the GDP was 3,6% in 2004 and 2,6% in 2005. The IMF envisages a growth of 2,8% in 2006. The fall of the growth is largely due to the fall of Swedish exports which contribute for nearly 45% to the GDP. In spite of a place of the State which is dominating, the Swedish market is one of most liberal in Europe. Unemployment touched 6,4% of the working population in 2005.

Agriculture provides 2% of the Swedish GDP. The principal agricultural productions are the cereals, the dairy products, the meat and the potatoes. Sweden is also one of the first wood producers per capita in the world. The medical standards and obligations are particularly strict for the agroalimentary products. Sweden has a certain number of mining resources such as for example lead, iron, zinc or the money. Swedish industry is characterized by the preponderance of great exporting groups like Volvo, Saab, Ericson or Astra Zeneca. The principal activities of manufacturing industry are wood, electronics, the agroalimentary one and pharmacy. The sectors of new technologies and biotechnologies have an important weight in the economy.

Trade foreign of Sweden east one of the engines of the economic growth. The country is member of the European Union but currently does not take part in the single currency. The European Union, with 52% from exports and 64% of the Swedish imports is the first commercial unit partner of the country. The three principal countries customers are the United States, Germany and Norway.
The first three supplying countries are Germany, Denmark and Norway. The principal imported products are the machines, the goods of equipment, the vehicles and the fuels.

New member of the European Union since May 1, 2004, Slovakia knows a rate of sustained high growth and regular: the growth rate of the Slovak GDP was 4,5% in 2003, 5,5% in 2004 and 5% in 2005. The IMF envisages a growth of 5,4% in 2006. The growth is drawn by exports and a recovery from the domestic demand. The country profits from a privileged geographical position to the crossroads of the Central Europe but it must deal with two difficulties: a high unemployment which touched approximately 17,3% of the working population in 2004 and of the budget deficits and high outsides.

The agricultural sector is developed little as Slovakia. The principal cultures are the cereals, the potatoes, the sugar beets and the grape. The mining resources of the country are very limited. Slovakia did not finish her transition towards a market economy. The reorganization of heavy industries, like the iron and steel industry or the metallurgy, continues. The west of the country sees developing industries with stronger added value (electronic, engineering, petrochemistry). The sectors of the industrial co-operation, the car industry and the consumer goods offer many prospects to the foreign investors.

The first three suppliers of the country are Germany, the Czech Republic and Russia. The automobile sector is the principal sector under development with export.
The first three customers are Germany, the Czech Republic and Austria. Slovakia imports mainly machines, hydrocarbons and goods of equipment.

The growth slowed down in 2005 but remains constant. According to the World Bank, the growth rate of the GDP was 7,2% in 2004 and 5,5% in 2005. The IMF envisages a growth of 5,2% in 2006. The uninterrupted rise of the courses of the raw materials (oil and of natural gas), the acceleration of Russian exports (+35% in 2005), the restoration of public finances and the lightening of the tax pressure since 2000 contribute to this sustained high growth.
The Russian economy is dependent on the courses of the raw materials which constitute 80% of its exports; the country is the first world natural gas producer, the second world oil producer and the third exporter. Inflation remains high, 11,5% in 2005, and the investments of the companies are weak, in particular in the industrial sector.

The principal branches of industry in Russia are agriculture (the sector employs 14% of the working population) and the energy sector which contributes to 25% of the GDP. The Gazprom company produces 90% of Russian gas and only contributes to it to 8% of the GDP. The banking environment was still not restructured after the financial crisis of 1998 and the climate of the businesses remains dubious because of the political tensions between the various groups of influence. The services contribute for more than 60% to the GDP. The principal outlets on the Russian market are the goods of equipment, the agroalimentary products, as well as the chemicals.

The first three supplying countries of Russia are Germany, the Ukraine and Belarus. The first three countries customers are the Netherlands, Bélarus and the Ukraine. Russia imports mainly foodstuffs, cars (the foreign cars marketed in Russia doubled their share of market in 2004), of the equipment of telecommunication and the machines.

The growth remained correct in 2005. The growth rate of the GDP was 4% in 2004 and 4,1% in 2005. The IMF envisages a growth of 3,9% in 2006. The growth is drawn by the dynamism from exports like by the level high from investment. The Czech Republic is one of the most developed countries PECO. Inflation is controlled (2% in 2005) but the finance public are degraded and the budget deficit grows hollow.

Agriculture underwent a durable crisis in the Nineties and today is largely subsidized. The agricultural sector provides 3,5% of the GDP and employs 4% of the working population. The principal cultures are the corn and the barley. Manufacturing industry, mainly privatized, provides nearly 40% of the GDP. One of the major branches of industry of the country is the car with Skoda (VW) and the investors foreign like Toyota and PSA which will begin a production in a common factory in Czech Republic as from June 2005. However, the automobile sector starts to be saturated.
The textile is a dynamic sector. Lastly, tourism is in full rise, thanks in particular to the passion for Prague.

The Czech Republic became member of the European Union on May 1, 2004. The first three customers are Germany, Slovakia and Austria.
The first three suppliers of the country are Germany, Slovakia and China. The Czech Republic imports mainly machines, goods of equipment, oil and gas and vehicles.

After three years of weak activity, Portugal seems to have started a slow resumption of the economy in 2006. The growth rate of the GDP was -1,2% in 2003, 1% in 2004 and 0,5% in 2005. The IMF envisages a growth of 1,2% in 2006. The new government arrived after the legislative ones of February 20, 2005 must face several challenges: the Portuguese economy remains fragile and the country has the low income per capita of the Euro zone. The competitiveness of the economy is called today into question by the medium-term reduction of the European subsidies and by the increase in the cost of the labour, less competitive than the new Member States of the EU.

The agricultural sector is not very productive. Agriculture counts for approximately 4% of the GDP and provides the third only food needs for the country. The principal cultures are the cereals, the fruit and vegetables and the wine. Wine exports of Oporto account for 1,4% of the total of exports. Portugal has important ore natural resources. The mining sector (copper, tin) contributes on the whole for nearly 6% to the GDP and Portugal is one of the principal world marble exporters. Manufacturing industry is modern and primarily made up of SME. The principal principal branches of industry are the metallurgy, mechanics, the textile, the BTP and tourism.

Since its adhesion at the European Community in 1986, Portugal made important great strides of its foreign trade. Today, Portugal carries out 80% of its exchanges with the European Union. The first three countries partners of Portugal are Spain, Germany and France. Portugal imports mainly vehicles, machines, goods of equipment and hydrocarbons.

The Moroccan economy has known a regular growth for several years. The year 2005 was however remembered by a slowdown in economic activity of the fact in particular of the bad climatic conditions which marked the crop year and of the end of the multifibre agreement since January 2005. The growth rate of the GDP was established at 1,8% in 2005 according to the ministry for Finances and Privatization. It had been 3,5% in 2004 and 5,2% in 2003. The growth rate should be established to 5,4% in 2006. This growth remains however insufficient to reduce poverty and unemployment (11% in 2005). The performances of the economy remain strongly dependent on the climatic risks, in particular on pluviometry, because of the important weight of agriculture. The foreign debt and the public deficit remain high.

The agricultural sector is dominating in Morocco: it employs about half of the working population and provides approximately 18% of the GDP. The principal cultures are the cereals and the fruit and vegetables. The productivity of the sector is often affected by the drynesses which touch the country regularly. Morocco has few mining resources, the phosphates being its principal richness. The industrial sector provides nearly the third of the GDP thanks in particular to the textile-clothing activities and of electronic assembly. The sector of the services is dominated by tourism which experiences a fast development.

The first three suppliers of Morocco to the importation are France, Spain and Italy; Morocco imports mainly finished products of consumption, goods of equipment, hydrocarbons and products agroalimentary.
The principal customers of Morocco are France, Spain and the United Kingdom. It exports especially electronic textile, and products. The signature of an agreement of association with the European Union in 2000 should lead to a free trade area from here 2012. Lastly, the steps of the foreign investors in Morocco are supported by the progressive installation since 2002 of 16 Regional Centers of Investment (CRY) which have the role of helping the foreign investments locally.

The recovery started in 2004 in Norway was confirmed in 2005: the growth rate of the GDP was 2,9% in 2004 and 3,1% in 2005. The IMF envisages a growth of 3,3% in 2006. This growth is due to the rise of oil like to consumption (+3,7%) and the investments (+7,3%) which remained high in 2005.
Thanks to the exploitation of its high contents in hydrocarbons, Norway has of a level of development and an income per capita among highest with the world. Inflation is controlled (1,6% in 2005) and the rate of unemployment is weak (4,3% in 2005).

The share of the Norwegian agricultural sector in the GDP is modest (2% of the GDP), because of the rigour of the climate. Norway is one of the first fish exporters in the world (the first world farmed salmon producer). The country has vast oil and natural gas resources. The exploitation of gas and oil count for nearly the quarter of the GDP. The country is the third world gas and oil exporter. The Norwegian electric production and consumption are among highest of the world. Manufacturing industry provides approximately 10% of the GDP. The sector of the services is in full growth, in particular thanks to tourism.

Although not forming part of the European Union, Norway does not impose customs duties for the importation of the majority of the products originating in the European Union. The first three customers of Norway are the United Kingdom, Germany and the Netherlands. The first three suppliers are Sweden, Germany and Denmark. The principal imported products are machines, goods of equipment, vehicles and boats.

Whereas Japan has passed through an important economic crisis for several years, the recovery for the moment was not really confirmed: the growth amounted to 2,7% in 2004 and 2% in 2005. According to the IMF, the growth should amount to 2% in 2006.
Unemployment decreased since 2003, it accounted for 4,3% of the working population in 2005. Japanese exports increased in 2005 (+6,4%) in particular towards China. In spite of these good results, Japan must always face structural difficulties: a national debt which accounted for 160% of the GDP in 2005, a still fragile banking environment as well as a deflationary pressure. In spite of the questioning of the Japanese economic model, Japan remains the second world economy and a market impossible to circumvent, in particular for the products of luxury, with a very high standard of living.

Agriculture provides only 1,3% of the GDP and employs 7% of the working population. The two principal cultures are the tea and rice. Japan is the first world fish producer and consumer and the second world paper producer and consumer. The industrial sector is two-speed: certain sectors like the car, mechanics, the microtechnologies and robotics are very competitive while others like the building or the great distribution, remain anchored in not very productive models. Japan delocalizes more and more its production in the close countries, at the more competitive costs of labour.

The three principal trade partners of Japan, with the importation as with export, are the United States, China and South Korea. Japan imports mainly fuels, electronic components, machines, products of optics and products of the sea. There are many outlets on the Japanese market for products like the pieces of furniture, the textile, the foodstuffs and the goods of equipment.

Decade 90 saw Ireland passing from an economy dominated by the traditional sectors to a modern economy founded over the NTIC, electronics and chemistry. Ireland knew to be essential like a world model of competitiveness: wage costs relatively low, a qualified labour and an advantageous taxation were at the origin of a great number of foreign investments, mainly in the sector of data processing and high technologies and led tovery high growth rates of the GDP (10,9% in 1999, 11,5% in 2000) but the growth during last years was affected by the crisis of the sector of new technologies. The activity was supported by the domestic demand in 2005. The growth amounted to 4,9% in 2004 and 5% in 2005. The IMF envisages a growth rate of 4,9% in 2006. Unemployment is modest: it is estimated at 4,3% in 2005 and even if it tends to grow slightly there remains quite lower than the European average.

The agricultural sector provides 3,4% of the GDP. The principal cultures are the cereals and the vegetables but the agricultural production rests above all on the bovine breeding. Fishing employs also a great number of people, on the whole 25.000 and the country recently became the fourth salmon producer of Europe. Ireland exports 60% of its production of meat. The Irish economy is characterized by the importance of the services (60% of the GDP), the principal sectors being data processing and electronics. 6% of the working population work in data processing. Ireland accomodates the European seat of many American multinationals of multi-media and of telecommunications but the progressive rise of the cost of the labour and the less and less advantageous tax policy involve the multinationals to be delocalized towards the PECO. Chemistry and pharmacy are also two strongly developed sectors. Lastly, tourism provides 5% of the GDP.

The three principal principal customers of Ireland are the United States, the United Kingdom and Belgium. Ireland exports mainly chemicals, electronics component and products of telecommunications.
The three principal suppliers are the United Kingdom, the United States and Germany. The country imports mainly machines, electronic components and goods of equipment.

After having known a rise of the activity in 2004, the growth slowed down in 2005. The growth rate of the GDP was 4% in 2004 and 3,4% in 2005. The IMF envisages a growth of 3,6% in 2006. The growth of Hungary is mainly due to the investments and exports of electronic material and transport facilities. The rate of unemployment remains important (7,1% in 2005) but inflation could be maitrisée (6,8% in 2004 and 3,7% in 2005).

The agricultural sector, formerly dominating, does not weigh any more that 6% of the GDP and employ nothing any more but 4% of the working population. The principal cultures are the cereals, the fruit and vegetables and the wine. The productivity of the sector remains still low. Industry contributes to the third of the GDP and is largely opened to the foreign investors who allowed his development. The car and electronics are the two major sectors: they account for 30% of exports and generate 15% of the GDP.

Hungary became member of the European Union on May 1, 2004. The three quarters of Hungarian exports are intended for the European Union. The first three customers of Hungary are Germany, Austria and France. Electronics (33% of Hungarian exports) and the machines (24%) are the strong points of Hungarian exports.
The first three suppliers are Germany, Italy and China. The country imports mainly goods of equipment and transport, manufactured goods and chemicals.

The growth of Greece continuous for several years, had been supported by the important granted Community aids and the investments carried out for the Olympic Games of Athens of 2004. The GDP progressed less quickly in 2005 because of the end of the investments related to the Olympic Games. The growth rate slowed down since it was 4,2% in 2004 but only 3,2% in 2005; it is envisaged to 2,9% in 2006. Inflation remains on a level relatively high: 3,5% for the year 2005. The investment is an essential engine of the activity, in particular in the sectors of the infrastructures and the goods of equipment. The two principal weaknesses of the Greek economy are the particularly important weight of the national debt as well as the high level of unemployment (the rate of unemployment was 11% in 2004). The Greek authorities launched out in a policy of privatization to reduce the national debt thanks to the collected receipts.

The two pillars of the Greek economy are tourism and the merchant navy. Tourism is under development full and generates 11% of the GDP, it became a major stake for the government. Greece is the first European ship-owner and the merchant navy contributes to a total value of 10% of the GDP. The share of agriculture in the economy is important: 6,87% of the GDP in 2004 whereas cultivable surface is very reduced (17% of the territory); this sector employs 20% of the working population. The principal cultures are the tobacco (first European producer), cotton (fifth world exporter), the sugar beet and the fruit and vegetables (27% of the agricultural production). The culture of cotton knows a true expansion. Industry contributes to a total value of 21,2% to the GDP. The activity, concentrated in some dies (textile, agroalimentary), is dominated by family companies.

The first three supplying countries of Greece are Germany, Italy and France. Its first three countries customers are Germany, Italy and the United Kingdom. Greece imports mainly hydrocarbons, goods of equipment and boats. The sectors to be privileged are telecommunications, data processing, construction, the medical equipment and certain foodstuffs like, for example, the fish or the groundnuts.

The year 2005 will have been remembered by an economic deceleration in France. In 2003, the real growth rate of the GDP fell to reach 0,5%, that is to say the progression of the weakest GDP recorded since 1993 in France, then it was rectified in 2004 to reach 2,3%. The recovery was not confirmed in 2005 since the growth of the GDP was 1,5%. According to forecasts' of the IMF, the growth rate in 2006 should amount to 1,8%.
The rate of unemployment remains alarming: it was 9,6% in January 2006. Medium-term, one of the principal challenges to take up for the French economy is the ageing of its population although the government already undertook certain reforms structural necessary to the maintenance of the economic equilibrium and budgetary of the country.

France is the first agricultural power of the European Union of which it provides nearly the quarter of the production. Agriculture generates 2,9% of the French GDP and France is the second world agricultural power (after the United States). The agricultural activity profits from important subsidies, in particular European. The principal productions are the corn, the corn, the meat and the wine. Manufacturing industry is diversified but the country crosses a phase of disindustrialization which results in many delocalizations. The industrial sectors of foreground are the car, data processing, telecommunications and electronics. The services provide 72,4% of the French GDP. France is the first world tourist destination: more than 75,3 million tourists went to France in 2005.

The French economy is very open to the trade foreign of goods. France is the second country of Europe by its trade foreign after Germany and the eighth world destination of foreign direct investments (IDE). The first three supplying countries of France are Germany, Italy and Spain. The first three countries customers are Germany, Spain and the United Kingdom. France imports mainly machines, vehicles and consumer goods. The country exports mainly vehicles, machines and consumer goods.

The British economy bent in 2005 because of the deceleration of consumption and the investments (only +1,7% and +2,2% in 2005). The growth rate of the GDP of the United Kingdom was 3,1% in 2004 but only 1,9% in 2005. The IMF envisages a growth of 2,2% in 2006. The growth is primarily drawn by the expansive budget policy followed by the government.
The rate of unemployment (4,9% in 2005) is one of weakest of Europe. The two principal challenges of the United Kingdom are the modernization of the public services (transport, education, public health, etc) as well as the reform of the system of retirement.

The agricultural sector, which provides 1% of the GDP and employs 2% of the working population, is very productive. The breeding is always the first agricultural activity in spite of the crises of the “insane cow” and the foot-and-mouth disease. However, the consumers are less trustful and the request for the products bio increases very quickly. The fishing industry also is very developed. The United Kingdom has very important mining resources. It is the 10th world producer of oil and the reserves of gas are very vast. BP and Shell appear among the whole first actors of world oil industry. Manufacturing industry, relatively not very competitive, provides 20% of the GDP. Pharmaceutical industry is one of most powerful in the world just as the aircraft industry and of defense. The services are the sector carrying the British economy. London is the first money market of Europe and the United Kingdom holds places of world leader in many sectors: Telecom, maritime transport, engineering, architecture, media, publicity, etc

The United Kingdom is member of the European Union but currently does not take part in the single currency. The first three customers are the United States, Germany and France.
The first three supplying countries of the United Kingdom are Germany, the United States and France. The United Kingdom imports mainly machines, vehicles, goods of equipment and aeronautical equipment.

The growth was still important in 2005 same if it were less sharp than in 2004: the growth indeed amounted to 3,5% in 2005 and 4,4% in 2004. The IMF envisages a growth of 3,3% in 2006. The growth is carried by the household consumption and the investments which are remained important in 2005 although less low compared to 2004.
The labour market knows an improvement: the creations of job strongly increased since 2003 and the rate of unemployment in 2005 was 5,1% (against 6% in 2003). These good results are done however with the detriment of the national deficits which continue to grow hollow: in 2006, the budget deficit should reach 390 billion dollars while the trade deficit should rise to 750 billion dollars.
The United States must face several challenges: the rise of the fuels combined to the weakness of the dollar and the rise of the interest rate inevitably will tarnish the confidence of the consumers. In addition, the country is confronted with the ageing of its population and must undertake a reform of its system of retirement.

The United States is essential like a world leader in many branches of industry. The American agriculture, which accounts for only 1% of the GDP but which provides 60% of the world production, profits from important subsidies. The principal cultures are soya, the corn, the corn and the citrus fruits. The natural resources are very varied: the United States is among the first world producers of coal, oil and gas, metals and hydraulic power. The energy dependence is however important, the country representing the largest market of power consumption in the world. The United States generates more than 20% of the world GDP. The three richest States of the country are California, the State of New York and Texas.

The United States realizes more than 30% of their trade foreign with the countries from the ALENA (Agreement of North-American Free trade) and 20% with the European Union. It should be noted that since July 1, 2005, the agreement of free trade made by the United States with Jordan and Morocco came into effect.
The first three customers of the United States are Canada, Mexico and Japan. The first three suppliers are Canada, China and Mexico. The United States imports mainly goods of equipment, manufactured goods, hydrocarbons and chemicals.
The United States strongly increases their imports since the countries at very low production cost, in particular China which became the 3rd trade partner. The first bilateral deficits are those recorded with China, Japan, Canada, Mexico and Germany.

The growth in 2005 remained correct to 2,2% in spite of a light fold of 0,2 points compared to 2004. The growth rate of the GDP was 0,4% in 2003 and 2,4% in 2004. The IMF envisages a growth of 2,1% in 2006. The tax cuts and the fall in the interest rates since 2003 stimulated the domestic demand and allowed a slow recovery. The Danish economy is strong: the GDP per capita is the second (after Luxembourg) of the European Union, the budget of the State is surplus and the rate of unemployment continuous to drop (4,9% in 2005, 5,4% in 2004). The economy of the country is strongly dependent on its foreign trade. This one posts good results because of the good levels of Danish productivity and competitiveness.

The natural resources of Denmark are limited, which slowed down the development of heavy industry. The country is however equipped with important resources gases and oil which ensure its energy independence. The principal pillars of the economy are the chemical and pharmaceutical industry, biotechnologies and the services in general (they constitute 71% of the GDP). Denmark is the first world manufacturer of wind mills and exports 85% of its production. The agricultural sector counts for only 2,13% of the GDP. Two thirds of the agricultural production are exported.

Denmark is member of the European Union but Danish rejected by referendum the entry of their country in the zone euro.
The value of exports as of the imports constitutes approximately a third of the GDP. Nearly two thirds of external trade are done with the countries of the EU. The exchanges with the countries of Eastern Europe did not increase to a significant degree since their recent entry in the Union. The prevalent bilateral trade partner is very clearly Germany, but Sweden, Great Britain and the Netherlands are also partners of size. Denmark imports mainly products for human consumption, raw materials and products semi-manufactured. The manufacturing sectors of the building account for 75% of exports of goods.

China became an actor dominating of the world economy and the country accounts for from now on 4% of the world GDP. The economic growth remains high: the growth rate of the GDP was 9,3% in 2003, 9,5% in 2004 and 9% in 2005. The IMF envisages a growth of 8,2% in 2006. These good performances are explained in three ways: an increasingly constant domestic consumption, a boom of the private investments and a progression of the external request - Chinese exports increased by 28% in 2005. Lastly, the accession of China with OMC in December 2001 reinforced the flow of foreign direct investments whose amount reached 60,6 billion dollars in 2004, which represents half of the IDE in Asia.

With 70% of the Chinese population living in the rural world, China remains in the world forefront for a number of productions: corn, cotton, potatoes, rice, pigs and sheep but agriculture does not contribute any more but to a total value of 15% in the GDP.
In the mining sector, the production of non-ferrous metals increases. China became the second large-scale consumer of oil in the world. The industrial sector is him, in deep reorganization: the public sector gains in productivity and the number of private companies is in constant increase, especially in the services. Many companies sub-contract the manufacture of products (textile, movable, electronic…) in order to benefit from the inexpensive labour Chinese what made of China “the workshop of the world”.
China receives many Foreign Direct Investments not only on behalf of the other Asian countries (Hong-Kong and Taiwan in particular) but also of the United States and the European Union.

The principal trade partners of China are Japan, the United States and South Korea. Taiwan, HongKong and Germany are also partners of foreground. China imports mainly electronic components, machines, hydrocarbons and steel. Among the growth sectors, one finds the transport rail-bound and urban, the food, the cosmetics and high technologies.

The growth remained dynamic in 2005 with a growth rate are equivalent to that of 2004 to 2,9%. The IMF envisages a growth of 3,1% in 2006. The Canadian economy rests on fundamental goods: in 2005, the rate of chomâge accounted for 6,7% of the working population and inflation was contained to 2,3%. In addition, the investments and consumption remained important (+7,8% and +4% in 2005). The standard of living of Canadian is one of highest in the world.

The Canadian agricultural sector is very developed. Canada is one of the first exporters of agricultural produce in the world. The principal cultures are the cereals, the fruit and vegetables, the sugar beet and the tobacco. Canada produces 10% of the world cultures of GMO. The mining natural resources of Canada are immense. The principal productions are the gas, uranium, zinc, nickel and oil. The most dynamic branches of industry in Canada are the advanced technologies like telecommunications, the Internet (72% of the adult population are connected regularly) or the aeronautics whose annual sales turnover is higher than 21,3 billion dollars Canadian (CAD) what places the country at the 4th world rank in term of sales turnover after the United States, France and Great Britain.
Lastly, the sector of the generic drugs is particularly developed in Canada.

Canada is member of the ALENA, the agreement of North-American free trade concluded between the United States, Canada and Mexico. The first three supplying countries of Canada are the United States, China and Mexico. Canada imports mainly vehicles, machines and electronics component.
The first three countries customers are the United States, Japan and the United Kingdom. The country exports mainly vehicles, hydrocarbons and machines.

The growth slowed down in 2005 to reach only 1,2% whereas it was 2,9% in 2004. The IMF envisages a growth of 1,9% in 2006. This moderate growth is explained on the one hand by a limited domestic demand and, on the other hand, by the weakness of the request external of Belgian products because of the economic deceleration in France, Germany and in the Netherlands. The Belgian economy is very dependent on the economic situation of its European trade partners since it carries out 75% of its exports inside the zone euro. Lastly, the strong appreciation of the Euro affects the competitiveness of Belgian exports. The rate of unemployment was 8% in 2005.

The Belgian agricultural sector provides 1,32% of the GDP and plays a part quite less than in the other European countries. The livestock and dairy production is dominating. The agricultural policy concerns the R égions. The industrial sector provides 26,48% of the GDP. Among the principal industrial activities one counts in particular the production of goods intermediate and semi-finished (steel and non-ferrous, chemicals) and the textile. The sector of biotechnologies is under development full. The remainder of the economic activity is largely dominated by the services which account for 72,19% of the GDP and employ 73% of the working population.

The Belgian economy is very open and constitutes one of the first world destinations for the foreign investments. Luxembourg, the Netherlands and France are the three principal investors. The first three suppliers of Belgium are Germany, the Netherlands and France. Belgium imports mainly chemicals and medicinal, mechanical machines and apparatuses and means of transport.
The first three customers were Germany, France and the Netherlands. The country exports mainly chemicals and medicinal, means of transport and machines and apparatuses mechanical.

The economic activity in Austria slowed down in 2005 mainly because of the economic deceleration of Germany, its first trade partner. The growth rate of the Austrian GDP was 0,7% in 2003, 2,2% in 2004 and 1,9% in 2005. It is envisaged to 2,2% in 2006, thanks in particular to the improvement of the economic situation in Germany and Switzerland, which are its principal trade partners. Austria is one of the most developed countries Europe and invests more and more in the Central European countries and Eastern. Austria is the 1st investor as Slovenia and Croatia and occupies the 3rd rank as Slovakia, Hungary and Czech République. Inflation is weak (+2,5% in 2005) and stable unemployment (4,5% in 2005).

The agricultural sector provides 2,35% of the GDP and employs 6% of the working population. The breeding (which account for 70% of the production) and the vine growing are the principal agricultural activities. Austria is given a high amount of Community agricultural subsidies and develops biological agriculture (10% of the Austrian exploitations manufacture biological products). Austria has certain mining richnesses like iron, lead or copper but the mining sector has a marginal weight in the economy. This phenomenon is explained in particular by the lack of profitability of the extraction of the raw materials, which must consequently be imported. In addition, since 2003 the Austrian government started a policy of liberalization electricity natural gas which has thus given place has many privatizations. Austrian industry rests on the sectors of the metallurgy, electrochemistry and engineering. The sector of the services employs two thirds of the working population. Tourism is very developed: Austria accomodates on average 17 million tourists per annum.

The Austrian economy strongly rests on its foreign trade: this one represents more half of the GDP. The first three suppliers of Austria are Germany, Italy and France. The first three customers are Germany, Italy and the United States. Austria imports mainly machines and vehicles (which represented in 2004 40,4% from the imports and 44,9% of exports, the products for human consumption and the chemicals.

The Algerian economy posted very good performances in 2004 (growth of 5,2% of the GDP in 2004) and knew an activity more moderated in 2005 (growth of the GDP of 4,8% according to the IMF). The IMF envisages a growth of 5,3% in 2006. The economy rests mainly on the sector of hydrocarbons: oil (the national company Sonatrach was placed at the 12th world rank for the production in 2004) and the gas whose Algeria is the 4th world producer. Hydrocarbon exports (97,2% of the total revenues of export) allowed the country, in a context of very good behaviour of the oil courses, to balance its public accounts and to reduce its foreign debt (the debt servicing does not absorb any more that one quarter of exports against two thirds ten years ago), while securing a support of the Western countries. Algeria thus remains strongly dependent on the sector of hydrocarbons.

The other major sector of the Algerian economy is the agriculture, very diversified, which employs a quarter of the working population. Nevertheless, this field knows random outputs, in particular because of its vulnerability in the climatic conditions. In addition, the standard of living of the population remains low and high unemployment (35%). Lastly, the abstract economy plays a part of foreground, probably representing a quarter of the GDP.

On September 1, 2005, the Agreement of association between Algeria and the European Union which will lead in the long term to the liberalization of bilateral trade came into effect. The first three supplying countries of Algeria are France, Italy and Germany. The first three countries customers are the United States, France and Italy. Algeria imports mainly machines, cereals, electronics component and manufactured goods.

The growth in 2005 was weaker than in 2004. It was indeed 0.8% in 2005 whereas it was 1,6% in 2004. The IMF envisages a growth of 1,2% in 2006. As in 2004, the growth in 2005 was the result of the good behaviour of German exports but was weaker bus the domestic demand as well as the investments of the companies are remained weak, these last seeking before very reducing their production costs. Unemployment remains high, it exceeded for the first time the course of the five million unemployeds in January 2005. The finance public remain overdrawn in addition and Germany does not manage to comply with the rules of the pact of stability of the European Union: the public deficit exceeded for the fifth consecutive time 3% of the GDP in 2005 (it was 3,9%). The economic performances of ex-GDR remain much lower than those of Länder of the west. However, it is probable that the recent entry of the Central European country in the European Union will have positive repercussions on the German economy.

The German agricultural sector, which provides 1,14% of the GDP, is largely subsidized by the State. The principal German agricultural productions are milk, the porcine and bovine breeding, the beets and the cereals. Under the impulse of the ministry for agriculture, the agricultural production results increasingly from biological exploitations. The country knows a process of disindustrialization: the share of industry in the German GDP passed from 51% in 1970 to 31% today. The German economy preserves nevertheless industrial specializations: the mechanical engineering industry, electric and electronic industry, the car and chemistry record good performances while the country took delay in the sectors of the services and new technologies compared to some of its European neighbors. The car industry is one of the principal branches of activities of the country, Germany being the 3rd world exporter of cars. The German economic model rests on its fabric of small companies: more than 3 million SME 70% of the German employees employ.

Germany is the first European economic power and accounts for 30% of the GDP of the zone euro.
Its first three suppliers are France, the Netherlands and the United States. Germany imports mainly machines, goods of industrial plant and hydrocarbons.
Its first three customers are France, the United States and the United Kingdom. It exports mainly machines, vehicles and electric and electronic component.