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Gross domestic product ( GDP ) is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic health of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund .

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106-462: Grand Prix Eddy Merckx was a cycle race around Brussels , where Eddy Merckx was born. It was held between 1980 and 2004, disappearing after the creation of the UCI ProTour in 2005. The race was initially an individual time trial , becoming a Team time trial of two riders in 1998. It usually had a duration of 60-70 km, with the 2003 being the shortest at 26 km because of a nearby fire. With

212-537: A Habsburg Empire "on which the sun never sets" with Brussels serving as one of his main capitals. It was in the Coudenberg Palace that Charles V was declared of age in 1515, and it was there in 1555 that he abdicated all of his possessions and passed the Habsburg Netherlands to King Philip II of Spain . This palace, famous all over Europe, had greatly expanded since it had first become

318-518: A federal district . The Brussels-Capital Region is governed by a parliament of 89 members (72 French-speaking, 17 Dutch-speaking—parties are organised on a linguistic basis) and an eight-member regional cabinet consisting of a minister-president , four ministers and three state secretaries . By law, the cabinet must comprise two French-speaking and two Dutch-speaking ministers, one Dutch-speaking secretary of state and two French-speaking secretaries of state. The minister-president does not count against

424-509: A base year. The result would be that the GDP in 2000 equals $ 300 million × 1 ⁄ 2 = $ 150 million , in 1990 monetary terms. We would see that the country's GDP had realistically increased 50 percent over that period, not 200 percent, as it might appear from the raw GDP data. The GDP adjusted for changes in money value in this way is called the real GDP . The factor used to convert GDP from current to constant values in this way

530-518: A country becomes increasingly in debt, and spends large amounts of income servicing this debt this will be reflected in a decreased GNI but not a decreased GDP. Similarly, if a country sells off its resources to entities outside their country this will also be reflected over time in decreased GNI, but not decreased GDP. This would make the use of GDP more attractive for politicians in countries with increasing national debt and decreasing assets. Gross national income (GNI) equals GDP plus income receipts from

636-521: A country's borders, but by an enterprise owned by somebody outside the country, counts as part of its GDP but not its GNI; on the other hand, production by an enterprise located outside the country, but owned by one of its citizens, counts as part of its GNI but not its GDP. For example, the GNI of the US is the value of output produced by American-owned firms, regardless of where the firms are located. Similarly, if

742-650: A country's citizens at home and abroad rather than its "resident institutional units" (see OECD definition above). The switch from GNP to GDP in the United States occurred in 1991. The role that measurements of GDP played in World War II was crucial to the subsequent political acceptance of GDP values as indicators of national development and progress. A crucial role was played here by the U.S. Department of Commerce under Milton Gilbert where ideas from Kuznets were embedded into institutions . The history of

848-406: A country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change . The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate . GDP can be adjusted for population growth, also called Per-capita GDP or GDP per person . This measures the average production of a person in

954-671: A few neighbouring municipalities have been merged into the City of Brussels , including Laeken , Haren and Neder-Over-Heembeek in 1921. These comprise the northern bulge in the municipality. To the south-east is a strip of land along the Avenue Louise/Louizalaan that, in addition to the Bois de la Cambre/Ter Kamerenbos , was annexed from Ixelles in 1864. Part of the Université libre de Bruxelles (ULB)'s Solbosch campus

1060-777: A national legislative act, in the field of the welfare powers of the communities: in the Brussels-Capital Region, both the French Community and the Flemish Community can exercise powers in the field of welfare, but only in regard to institutions that are unilingual (for example, a private French-speaking retirement home or the Dutch-speaking hospital of the Vrije Universiteit Brussel ). The Common Community Commission

1166-661: A number of NATO Summits have been held in Brussels, the most recent taking place in June 2021. The organisation's political and administrative headquarters are located on the Boulevard Léopold III / Leopold III-laan in Haren , on the north-eastern perimeter of the City of Brussels . A new €750 million headquarters building begun in 2010 and was completed in 2017. GDP per capita The ratio of GDP to

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1272-736: Is 57 m (187 ft) above sea level , varying from a low point in the valley of the almost completely covered Senne , which cuts the Brussels-Capital Region from east to west, up to high points in the Sonian Forest , on its southeastern side. In addition to the Senne, tributary streams such as the Maalbeek and the Woluwe , to the east of the region, account for significant elevation differences. Brussels' central boulevards are 15 m (49 ft) above sea level. Contrary to popular belief,

1378-467: Is US$ 5,040,107.75 (in a million). Predictably, as a developed country, Japan has a higher GNI (by 182,779.46, in millions of USD), which is indicative that the production level in the country is higher than that of national production. On the other hand, the case with Armenia is the opposite, with GDP being lower than GNI by US$ 196.12 (in million). This demonstrates that countries receive investments and foreign aid from abroad. The Total income divided by

1484-577: Is a bilingual enclave in the monolingual Flemish Region. Regions are one component of Belgium's institutions; the three communities being the other component. Brussels' inhabitants deal with either the French Community or the Flemish Community for matters such as culture and education, as well as a Common Community for competencies which do not belong exclusively to either Community, such as healthcare and social welfare . Since

1590-794: Is also a national and international hub for rail, road and air traffic, and is sometimes considered, together with Belgium, as Europe's geographic, economic and cultural crossroads. The Brussels Metro is the only rapid transit system in Belgium. In addition, both its airport and railway stations are the largest and busiest in the country. Brussels is known for its cuisine and gastronomic offer (including its local waffle , its chocolate , its French fries and its numerous types of beers ), as well as its historical and architectural landmarks; some of them are registered as UNESCO World Heritage Sites . Principal attractions include its historic Grand-Place/Grote Markt (main square), Manneken Pis ,

1696-573: Is also increasingly becoming multilingual. English is spoken widely and many migrants and expatriates speak other languages as well. Brussels grew from a small rural settlement on the river Senne to become an important city-region in Europe. Since the end of the Second World War , it has been a major centre for international politics and home to numerous international organisations, politicians, diplomats and civil servants . Brussels

1802-473: Is also part of the City of Brussels, partially accounting for the bulge in the south-eastern end. The largest municipality in area and population is the City of Brussels, covering 32.6 km (12.6 sq mi) and with 145,917 inhabitants; the least populous is Koekelberg with 18,541 inhabitants. The smallest in area is Saint-Josse-ten-Noode , which is only 1.1 km (0.4 sq mi), but still has

1908-425: Is also sometimes expressed as: The third way to estimate GDP is to calculate the sum of the final uses of goods and services (all uses except intermediate consumption) measured in purchasers' prices. Market goods that are produced are purchased by someone. In the case where a good is produced and unsold, the standard accounting convention is that the producer has bought the good from themselves. Therefore, measuring

2014-838: Is calculated this way it is sometimes called gross domestic income (GDI), or GDP (I). GDI should provide the same amount as the expenditure method described later. By definition, GDI is equal to GDP. In practice, however, measurement errors will make the two figures slightly off when reported by national statistical agencies. This method measures GDP by adding incomes that firms pay households for factors of production they hire – wages for labour, interest for capital, rent for land and profits for entrepreneurship. The US "National Income and Product Accounts" divide incomes into five categories: These five income components sum to net domestic income at factor cost. Two adjustments must be made to get GDP: Total income can be subdivided according to various schemes, leading to various formulae for GDP measured by

2120-474: Is called the GDP deflator . Unlike consumer price index , which measures inflation or deflation in the price of household consumer goods, the GDP deflator measures changes in the prices of all domestically produced goods and services in an economy including investment goods and government services, as well as household consumption goods. Real GDP can be used to calculate the GDP growth rate, which indicates how much

2226-462: Is composed of the members of the regional parliament, and its board are the ministers—not the secretaries of state—of the region, with the minister-president not having the right to vote. This commission has two capacities: it is a decentralised administrative public body, responsible for implementing cultural policies of common interest. It can give subsidies and enact by-laws . In another capacity, it can also enact ordinances, which have equal status as

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2332-473: Is contributed at each stage of production. This approach mirrors the OECD (Organisation for Economic Co-operation and Development) definition given above. Gross value added = gross value of output – value of intermediate consumption. Value of output = value of the total sales of goods and services plus the value of changes in the inventory. The sum of the gross value added in the various economic activities

2438-404: Is known as "GDP at factor cost". GDP at factor cost plus indirect taxes less subsidies on products = "GDP at producer price". For measuring the output of domestic product, economic activities (i.e. industries) are classified into various sectors. After classifying economic activities, the output of each sector is calculated by any of the following two methods: The value of output of all sectors

2544-477: Is one of the three federal regions of Belgium , along with Flanders and Wallonia , and has bilingual status. The yellow iris is the emblem of the region (referring to the presence of these flowers on the city's original site) and a stylised version is featured on its official flag. In recent years, Brussels has become an important venue for international events. In 2000, it was named European Capital of Culture alongside eight other European cities. In 2013,

2650-727: Is pronounced / s / , as in English , and the final s is silent) and in Dutch, Brussel is pronounced [ˈbrʏsəl] . Inhabitants of Brussels are known in French as Bruxellois (pronounced [bʁysɛlwa] ) and in Dutch as Brusselaars (pronounced [ˈbrʏsəlaːrs] ). In the Brabantian dialect of Brussels (known as Brusselian , and also sometimes referred to as Marols or Marollien), they are called Brusseleers or Brusseleirs . Originally,

2756-765: Is related to different conceptions in the two communities, one focusing more on the Communities and the other more on the Regions, causing an asymmetrical federalism . Because of this devolution, the French Community Commission can enact decrees , which are legislative acts. A bi-communitarian public authority, the Common Community Commission (French: Commission communautaire commune , COCOM, Dutch: Gemeenschappelijke Gemeenschapscommissie , GGC) also exists. Its assembly

2862-413: Is responsible for policies aiming directly at private persons or at bilingual institutions (for example, the centres for social welfare of the 19 municipalities). Its ordinances have to be enacted with a majority in both linguistic groups. Failing such a majority, a new vote can be held, where a majority of at least one third in each linguistic group is sufficient. Brussels serves as de facto capital of

2968-546: Is separate from the Flemish Region (within which it forms an enclave ) and the Walloon Region , located less than 4 kilometres (2.5 mi) to the south. Historically Dutch-speaking, Brussels saw a language shift to French from the late 19th century. Nowadays, the Brussels-Capital Region is officially bilingual in French and Dutch, although French is the majority language and lingua franca . Brussels

3074-587: Is that GDP defines its scope according to location, while GNI defines its scope according to ownership. In a global context, world GDP and world GNI are, therefore, equivalent terms. GDP is a product produced within a country's borders; GNI is product produced by enterprises owned by a country's citizens. The two would be the same if all of the productive enterprises in a country were owned by its own citizens and those citizens did not own productive enterprises in any other countries. In practice, however, foreign ownership makes GDP and GNI non-identical. Production within

3180-659: Is the de facto capital of the European Union , as it hosts a number of principal EU institutions , including its administrative-legislative , executive-political , and legislative branches (though the judicial branch is located in Luxembourg , and the European Parliament meets for a minority of the year in Strasbourg ). Because of this, its name is sometimes used metonymically to describe

3286-453: Is then added to get the gross value of output at factor cost. Subtracting each sector's intermediate consumption from gross output value gives the GVA (=GDP) at factor cost. Adding indirect tax minus subsidies to GVA (GDP) at factor cost gives the "GVA (GDP) at producer prices". The second way of estimating GDP is to use "the sum of primary incomes distributed by resident producer units". If GDP

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3392-463: The Atlantic Ocean . Nearby wetlands also ensure a maritime temperate climate. On average (based on measurements in the period 1981–2010), there are approximately 135 days of rain per year in the Brussels-Capital Region. Snowfall is infrequent, averaging 24 days per year. The city also often experiences violent thunderstorms in summer months. Despite its name, the Brussels-Capital Region is not

3498-680: The Atomium , and cultural institutions such as La Monnaie/De Munt and the Museums of Art and History . Due to its long tradition of Belgian comics , Brussels is also hailed as a capital of the comic strip . The most common theory of the origin of the name Brussels is that it derives from the Old Dutch Bruocsella , Broekzele or Broeksel , meaning ' marsh ' ( bruoc / broek ) and ' home, settlement ' ( sella / zele / sel ) or ' settlement in

3604-588: The Belgian Revolution began in Brussels, after a performance of Auber's opera La Muette de Portici at the Royal Theatre of La Monnaie . The city became the capital and seat of government of the new nation. South Brabant was renamed simply Brabant , with Brussels as its administrative centre. On 21 July 1831, Leopold I , the first King of the Belgians , ascended the throne, undertaking

3710-609: The Brussels International Exposition of 1935 and the 1958 Brussels World's Fair ( Expo 58 ). During World War I , Brussels was an occupied city, but German troops did not cause much damage. During World War II , it was again occupied by German forces , and spared major damage, before it was liberated by the British Guards Armoured Division on 3 September 1944. Brussels Airport , in the suburb of Zaventem , dates from

3816-490: The Brussels-Capital Region (French: Région de Bruxelles-Capitale ; Dutch: Brussels Hoofdstedelijk Gewest ), is a region of Belgium comprising 19 municipalities , including the City of Brussels , which is the capital of Belgium. The Brussels-Capital Region is located in the central portion of the country and is a part of both the French Community of Belgium and the Flemish Community , but

3922-775: The Council of Ministers holds its meetings. The Court of Cassation , Belgium's main court, has its seat in the Palace of Justice . Other important institutions in the City of Brussels are the Constitutional Court , the Council of State , the Court of Audit , the Royal Belgian Mint and the National Bank of Belgium . The City of Brussels is also the capital of both the French Community of Belgium and

4028-434: The European Union (EU), and many modern offices were built. Development was allowed to proceed with little regard to the aesthetics of newer buildings, and numerous architectural landmarks were demolished to make way for newer buildings that often clashed with their surroundings, giving name to the process of Brusselisation . The Brussels-Capital Region was formed on 18 June 1989, after a constitutional reform in 1988. It

4134-710: The European Union (EU), hosting the major political institutions of the Union . The EU has not declared a capital formally, though the Treaty of Amsterdam formally gives Brussels the seat of the European Commission (the executive branch of government) and the Council of the European Union (a legislative institution made up from executives of member states). It locates the formal seat of European Parliament in Strasbourg , where votes take place, with

4240-627: The Flemish Community . The Flemish Parliament and Flemish Government have their seats in Brussels, and so do the Parliament of the French Community and the Government of the French Community . The 19 municipalities (French: communes , Dutch: gemeenten ) of the Brussels-Capital Region are political subdivisions with individual responsibilities for the handling of local level duties, such as law enforcement and

4346-585: The French Community Commission (French: Commission communautaire française or COCOF) and the Flemish Community Commission (Dutch: Vlaamse Gemeenschapscommissie or VGC). These two bodies each have an assembly composed of the members of each linguistic group of the Parliament of the Brussels-Capital Region . They also have a board composed of the ministers and secretaries of state of each linguistic group in

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4452-767: The Grand-Place/Grote Markt and Tomberg in Woluwe-Saint-Lambert , for example). During late antiquity , the region was home to Roman occupation, as attested by archaeological evidence discovered on the current site of Tour & Taxis , north-west of the Pentagon (Brussels' city centre). Following the decline of the Western Roman Empire , it was incorporated into the Frankish Empire . According to local legend,

4558-565: The Human Development Index or Better Life Index , as better approaches to measuring the effect of the economy on human development and well being . William Petty came up with a concept of GDP, to calculate the tax burden , and argue landlords were unfairly taxed during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695. The modern concept of GDP

4664-555: The Kingdom of Germany , Brussels became a commercial centre specialised in the textile trade. The town grew quite rapidly and extended towards the upper town (Treurenberg, Coudenberg and Sablon/Zavel areas), where there was a reduced risk of floods. As the town grew to a population of around 30,000, the surrounding marshes were drained to allow for further expansion. In 1183, the Counts of Leuven became Dukes of Brabant . Brabant, unlike

4770-712: The Royal Palace of Laeken , the official home of the Belgian royal family ). The Palace of the Nation is located on the opposite side of this park, and is the seat of the Belgian Federal Parliament . The office of the Prime Minister of Belgium , colloquially called Law Street 16 (French: 16, rue de la Loi , Dutch: Wetstraat 16 ), is located adjacent to this building. It is also where

4876-588: The Seventeen Provinces . After the death of Mary in 1482, her son Philip the Handsome succeeded as Duke of Burgundy and Brabant. Philip died in 1506, and he was succeeded by his son Charles V who then also became King of Spain (crowned in the Cathedral of St. Michael and St. Gudula ) and even Holy Roman Emperor at the death of his grandfather Maximilian I in 1519. Charles was now the ruler of

4982-822: The Treaty of Utrecht in 1713, Spanish sovereignty over the Southern Netherlands was transferred to the Austrian branch of the House of Habsburg. This event started the era of the Austrian Netherlands . Brussels was captured by France in 1746, during the War of the Austrian Succession , but was handed back to Austria three years later. It remained with Austria until 1795, when the Southern Netherlands were captured and annexed by France, and

5088-729: The World Customs Organization and Eurocontrol , as well as international corporations, have their main institutions in the city. In addition, the main international trade union confederations have their headquarters there: the European Trade Union Confederation (ETUC), the International Confederation of Free Trade Unions (ICFTU) and the World Confederation of Labour (WCL). Brussels is third in

5194-454: The boroughs in London or arrondissements in Paris , to keep politics close enough to the citizen. In the 2010s, Molenbeek-Saint-Jean gained international attention as the base for Islamist terrorists who carried out attacks in both Paris and Brussels . The Brussels-Capital Region is one of the three federated regions of Belgium, alongside the Walloon Region and the Flemish Region . Geographically and linguistically, it

5300-416: The largest in Belgium . It is also part of a large conurbation extending towards the cities of Ghent , Antwerp , and Leuven , known as the Flemish Diamond , as well as the province of Walloon Brabant , in total home to over 5 million people. As Belgium's economic capital and a top financial centre in Western Europe with Euronext Brussels , Brussels is classified as an Alpha global city . It

5406-407: The Burgundian duke Charles the Bold perished in the Battle of Nancy . Through the marriage of his daughter Mary of Burgundy (who was born in Brussels) to Holy Roman Emperor Maximilian I , the Low Countries fell under Habsburg sovereignty. Brabant was integrated into this composite state, and Brussels flourished as the Princely Capital of the prosperous Burgundian Netherlands , also known as

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5512-496: The EU and its institutions. The secretariat of the Benelux and the headquarters of NATO are also located in Brussels. Brussels is the most densely populated region in Belgium, and although it has the highest GDP per capita , it has the lowest available income per household. The Brussels Region covers 162 km (63 sq mi) and has a population of over 1.2 million. Its five times larger metropolitan area comprises over 2.5 million people, which makes it

5618-426: The Government of the Brussels-Capital Region. The French Community Commission also has another capacity: some legislative powers of the French Community have been devolved to the Walloon Region (for the French language area of Belgium) and to the French Community Commission (for the bilingual language area). The Flemish Community, however, did the opposite; it merged the Flemish Region into the Flemish Community. This

5724-437: The Parliament. Nowadays, the presence has increased considerably, with the Commission alone occupying 865,000 m (9,310,000 sq ft) within the European Quarter (a quarter of the total office space in Brussels). The concentration and density has caused concern that the presence of the institutions has created a ghetto effect in that part of the city. However, the European presence has contributed significantly to

5830-427: The accounting year. ) So for example if a car manufacturer buys auto parts , assembles the car and sells it, only the final car sold is counted towards the GDP. Meanwhile, if a person buys replacement auto parts to install them on their car, those are counted towards the GDP. According to the U.S. Bureau of Economic Analysis, which is responsible for calculating the national accounts in the United States, "In general,

5936-435: The capital of Belgium . Article 194 of the Belgian Constitution establishes that the capital of Belgium is the City of Brussels , the municipality in the region that is the city's core. The City of Brussels is the location of many national institutions. The Royal Palace of Brussels , where the King of the Belgians exercises his prerogatives as head of state, is situated alongside Brussels Park (not to be confused with

6042-405: The centre of activities, as the Commission and Council based their activities in what has become the European Quarter , in the east of the city. Early building in Brussels was sporadic and uncontrolled, with little planning. The current major buildings are the Berlaymont building of the commission, symbolic of the quarter as a whole, the Europa building of the Council and the Espace Léopold of

6148-458: The city became the chef-lieu of the department of the Dyle . The French rule ended in 1815, with the defeat of Napoleon on the battlefield of Waterloo , located south of today's Brussels-Capital Region. With the Congress of Vienna , the Southern Netherlands joined the United Kingdom of the Netherlands , under King William I of Orange . The former Dyle department became the province of South Brabant , with Brussels as its capital. In 1830,

6254-450: The city was the site of the Brussels Agreement . In 2014, it hosted the 40th G7 summit , and in 2017, 2018 and 2021 respectively the 28th , 29th and 31st NATO Summits . On 22 March 2016 , three coordinated nail bombings were detonated by ISIL in Brussels—two at Brussels Airport in Zaventem and one at Maalbeek/Maelbeek metro station —resulting in 32 victims and three suicide bombers killed, and 330 people were injured. It

6360-540: The concept of GDP should be distinguished from the history of changes in many ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the public sector , by financial industries, and by intangible asset creation is more complex. These activities are increasingly important in developed economies, and the international conventions governing their estimation and their inclusion or exclusion in GDP regularly change in an attempt to keep up with industrial advances. In

6466-411: The council was subject to many difficulties caused by the linguistic and socio-economic tensions between the two communities. After the creation of the Brussels-Capital Region, the Brussels Agglomeration was never formally abolished, although it no longer has a purpose. The French Community and the Flemish Community exercise their powers in Brussels through two community-specific public authorities:

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6572-517: The council, on the proposals made by the commission. However, meetings of political groups and committee groups are formally given to Brussels, along with a set number of plenary sessions. Three quarters of Parliament sessions now take place at its Brussels hemicycle . Between 2002 and 2004, the European Council also fixed its seat in the city. In 2014, the Union hosted a G7 summit in the city. Brussels, along with Luxembourg and Strasbourg, began to host European institutions in 1957, soon becoming

6678-401: The country. GDP per capita is often used as an indicator of living standards. The major advantage of GDP per capita as an indicator of the standard of living is that it is measured frequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP every quarter, allowing trends to be seen quickly. It is measured widely in that some measure of GDP

6784-411: The county of Flanders, was not fief of the king of France but was incorporated into the Holy Roman Empire . In the early 13th century, the first walls of Brussels were built and after this, the city grew significantly. Around this time, work began on what is now the Cathedral of St. Michael and St. Gudula (1225), replacing an older Romanesque church. To let the city expand, a second set of walls

6890-438: The destruction of the city walls and the construction of many buildings. Following independence, Brussels underwent many more changes. It became a financial centre, thanks to the dozens of companies launched by the Société Générale de Belgique . The Industrial Revolution and the opening of the Brussels–Charleroi Canal in 1832 brought prosperity to the city through commerce and manufacturing. The Free University of Brussels

6996-432: The development of the Art Nouveau style in the 1890s and early 1900s. The architects Victor Horta , Paul Hankar , and Henry van de Velde , among others, were known for their designs, many of which survive today. During the 20th century, the city hosted various fairs and conferences, including the Solvay Conference on Physics and on Chemistry, and three world's fairs : the Brussels International Exposition of 1910 ,

7102-414: The entire history of Brussels. The Grand-Place was destroyed, along with 4,000 buildings—a third of all the buildings in the city. The reconstruction of the city centre , effected during subsequent years, profoundly changed its appearance and left numerous traces still visible today. During the War of the Spanish Succession in 1708, Brussels again sustained a French attack , which it repelled. Following

7208-399: The highest point (at 127.5 m (418 ft)) is not near the Place de l'Altitude Cent / Hoogte Honderdplein in Forest , but at the Drève des Deux Montages / Tweebergendreef in the Sonian Forest. Brussels experiences an oceanic climate ( Köppen : Cfb ) with warm summers and cool winters. Proximity to coastal areas influences the area's climate by sending marine air masses from

7314-400: The highest population density in the region, with 20,822/km (53,930/sq mi). Watermael-Boitsfort has the lowest population density in the region, with 1,928/km (4,990/sq mi). There is much controversy on the division of 19 municipalities for a highly urbanised region, which is considered as (half of) one city by most people. Some politicians mock the "19 baronies" and want to merge

7420-472: The importance of Brussels as an international centre. Brussels has, since World War II , become the administrative centre of many international organisations. The city is the political and administrative centre of the North Atlantic Treaty Organization (NATO). NATO's Brussels headquarters houses 29 embassies and brings together over 4,500 staff from allied nations, their militaries, and civil service personnel. Many other international organisations such as

7526-553: The income approach. A common one is: The sum of COE , GOS and GMI is called total factor income; it is the income of all of the factors of production in society. It measures the value of GDP at factor (basic) prices. The difference between basic prices and final prices (those used in the expenditure calculation) is the total taxes and subsidies that the government has levied or paid on that production. So adding taxes less subsidies on production and imports converts GDP(I) at factor cost to GDP(I) at final prices. Total factor income

7632-443: The information required (especially information on expenditure and production by governments). The raw GDP figure as given by the equations above is called the nominal, historical, or current GDP. When one compares GDP figures from one year to another, it is desirable to compensate for changes in the value of money—for the effects of inflation or deflation. To make it more meaningful for year-to-year comparisons, it may be multiplied by

7738-684: The international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress . It is often considered to be the world's most powerful statistical indicator of national development and progress. However, critics of the growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities , such as resource extraction , environmental impact and unpaid domestic work . Alternative economic indicators such as doughnut economics use other measures, such as

7844-514: The introduction of the UCI ProTour in 2005, there were plans to merge the race with Paris–Brussels . This merger was eventually never completed, by which the race disappeared from the calendar. This cycling race article related to Belgian cycling is a stub . You can help Misplaced Pages by expanding it . Brussels Brussels ( French : Bruxelles , pronounced [bʁysɛl] or [bʁyksɛl] ; Dutch : Brussel [ˈbrʏsəl] ), officially

7950-486: The language quota, but in practice every minister-president has been a bilingual francophone. The regional parliament can enact ordinances (French: ordonnances , Dutch: ordonnanties ), which have equal status as a national legislative act. Nineteen of the 72 French-speaking members of the Brussels Parliament are also members of the Parliament of the French Community of Belgium , and, until 2004, this

8056-459: The marsh ' . Saint Vindicianus , the Bishop of Cambrai , made the first recorded reference to the place Brosella in 695, when it was still a hamlet . The names of all the municipalities in the Brussels-Capital Region are also of Dutch origin, except for Evere , which is possibly Celtic or Old Frankish . In French , Bruxelles is pronounced [bʁysɛl] (the x

8162-412: The municipalities under one city council and one mayor. That would lower the number of politicians needed to govern Brussels, and centralise the power over the city to make decisions easier, thus reduce the overall running costs. The current municipalities could be transformed into districts with limited responsibilities, similar to the current structure of Antwerp or to structures of other capitals like

8268-516: The number of international conferences it hosts, also becoming one of the largest convention centres in the world. The presence of the EU and the other international bodies has, for example, led to there being more ambassadors and journalists in Brussels than in Washington, D.C. The city hosts 120 international institutions, 181 embassies ( intra muros ) and more than 2,500 diplomats , making it

8374-472: The occupation. After World War II, Brussels underwent extensive modernisation. The construction of the North–South connection , linking the main railway stations in the city, was completed in 1952, while the first premetro (underground tram) service was launched in 1969, and the first Metro line was opened in 1976. Starting from the early 1960s, Brussels became the de facto capital of what would become

8480-526: The origin of the settlement which was to become Brussels lies in Saint Gaugericus ' construction of a chapel on an island in the river Senne around 580. The official founding of Brussels is usually said to be around 979, when Duke Charles of Lower Lorraine transferred the relics of the martyr Saint Gudula from Moorsel (located in today's province of East Flanders ) to Saint Gaugericus' chapel. When Holy Roman Emperor Otto II appointed

8586-543: The population is the Per capita income . The international standard for measuring GDP is contained in the book System of National Accounts (2008), which was prepared by representatives of the International Monetary Fund , European Union , Organisation for Economic Co-operation and Development , United Nations and World Bank . The publication is normally referred to as SNA2008 to distinguish it from

8692-430: The previous edition published in 1993 (SNA93) or 1968 (called SNA68) SNA2008 provides a set of rules and procedures for the measurement of national accounts. The standards are designed to be flexible, to allow for differences in local statistical needs and conditions. Within each country GDP is normally measured by a national government statistical agency, as private sector organizations normally do not have access to

8798-512: The products must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying things. The income approach works on the principle that the incomes of the productive factors ("producers", colloquially) must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. Also known as the Value Added Approach, it calculates how much value

8904-457: The pronunciations [bʁyksɛl] and [bʁyksɛlwa] (for bruxellois ) are often heard, but are rather rare in Belgium. The history of Brussels is closely linked to that of Western Europe . Traces of human settlement go back to the Stone Age , with vestiges and place-names related to the civilisation of megaliths , dolmens and standing stones (Plattesteen near

9010-445: The ratio between the value of money in the year the GDP was measured and the value of money in a base year. For example, suppose a country's GDP in 1990 was $ 100 million and its GDP in 2000 was $ 300 million . Suppose also that inflation had halved the value of its currency over that period. To meaningfully compare its GDP in 2000 to its GDP in 1990, we could multiply the GDP in 2000 by one-half, to make it relative to 1990 as

9116-460: The reign of King Leopold II . The International Exposition of 1897 contributed to the promotion of the infrastructure. Among other things, the Palace of the Colonies , present-day Royal Museum for Central Africa , in the suburb of Tervuren , was connected to the capital by the construction of an 11 km-long (6.8 mi) grand alley . Brussels became one of the major European cities for

9222-587: The rest of the world minus income payments to the rest of the world. In 1991, the United States switched from using GNP to using GDP as its primary measure of production. The relationship between United States GDP and GNP is shown in table 1.7.5 of the National Income and Product Accounts . Another example that amplifies the difference between GDP and GNI is the comparison of developed and developing country indicators. The GDP of Japan for 2020

9328-547: The same Charles to become Duke of Lower Lotharingia in 977, Charles ordered the construction of the city's first permanent fortification, doing so on that same island. Lambert I of Leuven , Count of Leuven , gained the County of Brussels around 1000 by marrying Charles' daughter. Because of its location on the banks of the Senne, on an important trade route between the Flemish cities of Bruges and Ghent , and Cologne in

9434-408: The same result. They are the production (or output or value added) approach, the income approach, and the speculated expenditure approach. It is representative of the total output and income within an economy. The most direct of the three is the production approach, which sums up the outputs of every class of enterprise to arrive at the total. The expenditure approach works on the principle that all of

9540-534: The seat of the Dukes of Brabant, but it was destroyed by fire in 1731. In the 16th and 17th centuries, Brussels was a centre for the lace industry. In addition, Brussels tapestry hung on the walls of castles throughout Europe. In 1695, during the Nine Years' War , King Louis XIV of France sent troops to bombard Brussels with artillery . Together with the resulting fire, it was the most destructive event in

9646-402: The second centre of diplomatic relations in the world (after New York City ). International schools have also been established to serve this presence. The "international community" in Brussels numbers at least 70,000 people. In 2009, there were an estimated 286 lobbying consultancies known to work in Brussels. Finally, Brussels has more than 1,400 NGOs . The Treaty of Brussels , which

9752-401: The source data for the expenditures components are considered more reliable than those for the income components [see income method, above]." Encyclopedia Britannica records an alternate way of measuring exports minus imports: notating it as the single variable NX. GDP can be contrasted with gross national product (GNP) or, as it is now known, gross national income (GNI). The difference

9858-540: The split of Brabant in 1995, the Brussels Region does not belong to any of the provinces of Belgium , nor is it subdivided into provinces itself. Within the Region, 99% of the areas of provincial jurisdiction are assumed by the Brussels regional institutions and community commissions. Remaining is only the governor of Brussels-Capital and some aides, analogously to provinces. Its status is roughly akin to that of

9964-567: The tenure of the city's then-mayor , Jules Anspach , its entire course through the urban area was completely covered over . This allowed urban renewal and the construction of modern buildings of Haussmann -esque style along grand central boulevards , characteristic of downtown Brussels today. Buildings such as the Brussels Stock Exchange (1873), the Palace of Justice (1883) and Saint Mary's Royal Church (1885) date from this period. This development continued throughout

10070-536: The total expenditure used to buy things is a way of measuring production. This is known as the expenditure method of calculating GDP. GDP (Y) is the sum of consumption (C) , investment (I) , government expenditures (G) and net exports (X − M) . Here is a description of each GDP component: C , I , and G are expenditures on final goods and services; expenditures on intermediate goods and services do not count. (Intermediate goods and services are those used by businesses to produce other goods and services within

10176-439: The total population of the region is the GDP per capita and can approximate a concept of a standard of living . Nominal GDP does not reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on

10282-450: The upkeep of schools and roads within its borders. Municipal administration is also conducted by a mayor, a council, and an executive. In 1831, Belgium was divided into 2,739 municipalities, including the 19 currently located in the Brussels-Capital Region. Unlike most of the municipalities in Belgium, the ones now located in the Brussels-Capital Region were not merged with others during mergers occurring in 1964, 1970, and 1975. However,

10388-473: The words of one academic economist, "The actual number for GDP is, therefore, the product of a vast patchwork of statistics and a complicated set of processes carried out on the raw data to fit them to the conceptual framework." China officially adopted GDP in 1993 as its indicator of economic performance. Previously, China had relied on a Marxist-inspired national accounting system. GDP can be determined in three ways, all of which should, theoretically, give

10494-497: The written x noted the group / k s / . In the Belgian French pronunciation as well as in Dutch, the k eventually disappeared and z became s , as reflected in the current Dutch spelling , whereas in the more conservative French form , the spelling remained. The pronunciation / k s / in French only dates from the 18th century, but this modification did not affect the traditional Brussels usage. In France ,

10600-618: Was also the case for six Dutch-speaking members, who were at the same time members of the Flemish Parliament . Now, people voting for a Flemish party have to vote separately for 6 directly elected members of the Flemish Parliament. Before the creation of the Brussels-Capital Region, regional competences in the 19 municipalities were performed by the Brussels Agglomeration. The Brussels Agglomeration

10706-432: Was an administrative division established in 1971. This decentralised administrative public body also assumed jurisdiction over areas which, elsewhere in Belgium, were exercised by municipalities or provinces. The Brussels Agglomeration had a separate legislative council, but the by-laws enacted by it did not have the status of a legislative act. The only election of the council took place on 21 November 1971. The working of

10812-560: Was erected between 1356 and 1383. Traces of these walls can still be seen; the Small Ring , a series of boulevards bounding the historical city centre, follows their former course. In the 14th century, the marriage between heiress Margaret III of Flanders and Philip the Bold , Duke of Burgundy , produced a new Duke of Brabant of the House of Valois , namely Antoine , their son. In 1477,

10918-421: Was established in 1834 and Saint-Louis University in 1858. In 1835, the first passenger railway built outside England linked the municipality of Molenbeek-Saint-Jean with Mechelen . During the 19th century, the population of Brussels grew considerably; from about 80,000 to more than 625,000 people for the city and its surroundings. The Senne had become a serious health hazard , and from 1867 to 1871, under

11024-493: Was first developed by Simon Kuznets for a 1934 U.S. Congress report, where he warned against its use as a measure of welfare (see below under limitations and criticisms ). After the Bretton Woods Conference in 1944, GDP became the main tool for measuring a country's economy. At that time gross national product (GNP) was the preferred estimate, which differed from GDP in that it measured production by

11130-676: Was signed on 17 March 1948 between Belgium, France , Luxembourg , the Netherlands and the United Kingdom , was a prelude to the establishment of the intergovernmental military alliance which later became the North Atlantic Treaty Organization (NATO). Nowadays, the alliance consists of 32 independent member countries across North America and Europe. Several countries also have diplomatic missions to NATO through embassies in Belgium . Since 1949,

11236-556: Was the deadliest act of terrorism in Belgium. Brussels lies in the north-central part of Belgium, about 110 km (68 mi) from the Belgian coast and about 180 km (110 mi) from Belgium's southern tip. It is located in the heartland of the Brabantian Plateau, about 45 km (28 mi) south of Antwerp ( Flanders ), and 50 km (31 mi) north of Charleroi ( Wallonia ). Its average elevation

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