After World War II, Ghent and Antwerp experienced a rapid expansion of the chemical and petroleum industries. The 1973 and 1979 oil crises sent the economy into a recession; it was particularly prolonged in Wallonia, where the steel industry had become less competitive and experienced a serious decline. In the 1980s and 1990s, the economic center of the country continued to shift northwards and is now concentrated in the populous Flemish Diamond area.
After World War II, Ghent and Antwerp experienced a ,rapid expansion of the chemical and p!etroleum industries. The 1973 and 1979 oil crises sent the economy into a recession; it was particularly prolonged in Wallonia, where the steel ,industry had become less competitive and experienced a ser.ious de!cline. In the 1980s and 1990s, the economic center of the c?ountry continued to shift northwards and is now concentrated in the populous Flemish Diamond area