2016 was a fantastic year for technology companies in Flanders. With EUR 61.7 billion in technology products exported, the industry breaks all previous records. Flanders’ technology exportation figure has grown 5% compared to 2015. The previous record dates from 2007, when exports amounted to EUR 60.1 billion.
According to Agoria, the success is in part due to the improvements made in labor cost issues. Peter Demuynck, CEO of Agoria, explains: “Thanks to the index jump and tax shift, Flanders is more competitive and able to expand its market share. We have grown a lot compared to our trade partners.” The region’s exports have increased 2% yearly since 2005. “These numbers confirm that we have moved beyond an era of financial crisis and corporate restructuring,” Demuynck claims. “The persistent focus on innovation and internationalization, as well as several government efforts, are clearly paying off.”