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102-867: Sofina , Société Financière de Transports et d'Entreprises Industrielles , is a Belgian holding company, headquartered in Brussels with offices in Singapore and Luxembourg . As part of the Bel20 index, it is one of the twenty largest capitalisation in Belgium. The company invests in several industrial sectors such as telecommunication (7%), banks and insurance (6%), private equity (6%), B2B (18%), consumer goods (31%), energy (6%), food distribution (8%) and various other sectors (10%). Geographically, Sofina has investments located in Belgium , France, Luxembourg,

204-467: A balanced budget, some tax reforms , a labor-market reform, scheduled nuclear phase-out and instigated legislation allowing more stringent war crime and more lenient soft drug usage prosecution. Restrictions on euthanasia were reduced, and in 2003, Belgium became one of the first countries in the world to legalise same-sex marriage . The government promoted active diplomacy in Africa and opposed

306-509: 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

408-440: 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 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

510-518: 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

612-521: 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

714-650: 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

816-406: 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

918-860: A decade after the other regions) is included in both the Flemish and French Communities, and the territory of the German-speaking Community lies wholly within the Walloon Region. Conflicts about jurisdiction between the bodies are resolved by the Constitutional Court of Belgium . The structure is intended as a compromise to allow different cultures to live together peacefully. The Federal State's authority includes justice, defense, federal police, social security, nuclear energy, monetary policy and public debt, and other aspects of public finances. State-owned companies include

1020-693: A large semi-independent enclave. The Eighty Years' War (1568–1648) was triggered by the Spanish government's policy towards Protestantism , which was becoming popular in the Low Countries. The rebellious northern United Provinces ( Belgica Foederata in Latin , the "Federated Netherlands") eventually separated from the Southern Netherlands ( Belgica Regia , the "Royal Netherlands"). The southern part continued to be ruled successively by

1122-552: A new government . By 30 March 2011, this set a new world record for the elapsed time without an official government, previously held by war-torn Iraq . Finally, in December 2011 the Di Rupo Government led by Walloon socialist Prime Minister Elio Di Rupo was sworn in. The 2014 federal election (coinciding with the regional elections ) resulted in a further electoral gain for the Flemish nationalist N-VA, although

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1224-931: A policy of mediation. The Belgians have been strong advocates of European integration . The headquarters of NATO and of several of the institutions of the European Union are located in Belgium. The Belgian Armed Forces had 23,200 active personnel in 2023, including 8,500 in the Land Component , 1,400 in the Naval Component , 4,900 in the Air Component , 1,450 in the Medical Component , and 6,950 in joint service, in addition to 5,900 reserve personnel. In 2019, Belgium's defense budget totaled €4.303 billion ($ 4.921 billion) representing .93% of its GDP. The operational commands of

1326-467: 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

1428-605: Is a sovereign state and a federal constitutional monarchy with a parliamentary system . Its institutional organization is complex and is structured on both regional and linguistic grounds. It is divided into three highly autonomous regions : the Flemish Region (Flanders) in the north, the Walloon Region (Wallonia) in the south, and the Brussels-Capital Region in the middle. Brussels

1530-425: 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

1632-645: Is appointed Director in 1956. In 1964, the Boël family took control together with Société Générale de Belgique . The majority of the shares are held by the Boël family. The remaining shares are listed on Euronext Brussels and Sofina is part of the Bel 20 index. This bank, insurance, or other financial services corporation article is a stub . You can help Misplaced Pages by expanding it . Belgium – in Europe  (light green & dark grey) – in

1734-440: Is around 23% of the total land area, equivalent to 689,300 hectares (ha) of forest in 2020, up from 677,400 hectares (ha) in 1990. In 2020, naturally regenerating forest covered 251,200 hectares (ha) and planted forest covered 438,200 hectares (ha). For the year 2015, 47% of the forest area was reported to be under public ownership , 53% private ownership and 0% with ownership listed as other or unknown. The territory of Belgium

1836-483: Is based on civil law and originates from the Napoleonic code . The Court of Cassation is the court of last resort, with the courts of appeal one level below. Belgium's political institutions are complex; most political power rests on representation of the main cultural communities . Since about 1970, the significant national Belgian political parties have split into distinct components that mainly represent

1938-838: 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

2040-474: 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

2142-473: 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

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2244-505: Is divided into three Regions, two of which, the Flemish Region and Walloon Region , are in turn subdivided into provinces ; the third Region, the Brussels Capital Region , is neither a province nor a part of a province. Belgium is a constitutional , popular monarchy and a federal parliamentary democracy . The bicameral federal parliament is composed of a Senate and a Chamber of Representatives . The former

2346-404: 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

2448-667: Is lowest in January at 3 °C (37.4 °F) and highest in July at 18 °C (64.4 °F). The average precipitation per month varies between 54 mm (2.1 in) for February and April, to 78 mm (3.1 in) for July. Averages for the years 2000 to 2006 show daily temperature minimums of 7 °C (44.6 °F) and maximums of 14 °C (57.2 °F) and monthly rainfall of 74 mm (2.9 in); these are about 1 °C and nearly 10 millimeters above last century's normal values, respectively. Phytogeographically , Belgium

2550-497: Is made up of 50 senators appointed by the parliaments of the communities and regions and 10 co-opted senators . Prior to 2014, most of the Senate's members were directly elected. The Chamber 's 150 representatives are elected under a proportional voting system from 11 electoral districts . Belgium has compulsory voting and thus maintains one of the highest rates of voter turnout in the world. The King (currently Philippe )

2652-668: Is more than double that of Flanders, which boomed after the Second World War. Belgium is a developed country , with an advanced high-income economy . The country is one of the six founding members of the European Union , and its capital, Brussels, is the de facto capital of the European Union itself, hosting the official seats of the European Commission , the Council of the European Union , and

2754-632: Is now the Benelux, the so-called Burgundian Netherlands . "Burgundy" and "Flanders" were the first two common names used for the Burgundian Netherlands which was the predecessor of the Austrian Netherlands, the predecessor of modern Belgium. The union, technically stretching between two kingdoms, gave the area economic and political stability which led to an even greater prosperity and artistic creation. Born in Belgium,

2856-439: 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

2958-729: Is shared between the Atlantic European and Central European provinces of the Circumboreal Region within the Boreal Kingdom . According to the World Wide Fund for Nature , the territory of Belgium belongs to the terrestrial ecoregions of Atlantic mixed forests and Western European broadleaf forests . Belgium had a 2018 Forest Landscape Integrity Index mean score of 1.36/10, ranking it 163rd globally out of 172 countries. In Belgium forest cover

3060-587: 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

3162-631: Is the head of state , though with limited prerogatives . He appoints ministers, including a Prime Minister, that have the confidence of the Chamber of Representatives to form the federal government . The Council of Ministers is composed of no more than fifteen members. With the possible exception of the Prime Minister, the Council of Ministers is composed of an equal number of Dutch-speaking members and French-speaking members. The judicial system

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3264-570: Is the smallest and most densely populated region, as well as the richest region in terms of GDP per capita . Belgium is also home to two main linguistic communities: the Flemish Community ( Dutch -speaking), which constitutes about 60 percent of the population, and the French Community ( French -speaking), which constitutes about 40 percent of the population. A small German-speaking Community , making up around one percent of

3366-453: 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

3468-670: The 22nd most densely populated country in the world and the 6th most densely populated country in Europe, with a density of 383/km (990/sq mi). Belgium is part of an area known as the Low Countries , historically a somewhat larger region than the Benelux group of states, as it also included parts of northern France. The capital and largest metropolitan region is Brussels ; other major cities are Antwerp , Ghent , Charleroi , Liège , Bruges , Namur , and Leuven . Belgium

3570-500: The Belgian Post Group and Belgian Railways . The Federal Government is responsible for the obligations of Belgium and its federalized institutions towards the European Union and NATO. It controls substantial parts of public health, home affairs and foreign affairs. The budget—without the debt—controlled by the federal government amounts to about 50% of the national fiscal income. The federal government employs around 12% of

3672-715: The European Council , as well as one of two seats of the European Parliament (the other being Strasbourg ). Belgium is also a founding member of the Eurozone , NATO , OECD , and WTO , and a part of the trilateral Benelux Union and the Schengen Area . Brussels also hosts the headquarters of many major international organizations, such as NATO . According to Julius Caesar , the Belgae were

3774-664: The European Union  (light green) Belgium , officially the Kingdom of Belgium , is a country in Northwestern Europe . The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to the south, and the North Sea to the west. It covers an area of 30,689 km (11,849 sq mi) and has a population of more than 11.7 million, making it

3876-758: The Habsburg Emperor Charles ;V was heir of the Burgundians, but also of the royal families of Austria , Castile and Aragon . With the Pragmatic Sanction of 1549 he gave the Seventeen Provinces more legitimacy as a stable entity, rather than just a temporary personal union . He also increased the influence of these Netherlands over the Prince-Bishopric of Liège , which continued to exist as

3978-537: The Holy Roman Empire . The lordships and bishoprics along the "March" (frontier) between the two great kingdoms maintained important connections between each other. For example, the county of Flanders expanded over the Scheldt into the empire, and during several periods was ruled by the same lords as the county of Hainaut . In the 13th and 14th centuries, the cloth industry and commerce boomed especially in

4080-617: 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

4182-724: The Industrial Revolution , and during the course of the 20th century, possessed a number of colonies , notably the Belgian Congo and Ruanda-Urundi . These colonies gained independence between 1960 and 1962. The second half of the 20th century was marked by rising tensions between the Dutch-speakers and French-speakers, fueled by differences in political culture and the unequal economic development of Flanders and Wallonia. This continuing antagonism has led to several far-reaching state reforms , resulting in

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4284-822: The Michel Government . It was the first time N-VA was part of the federal cabinet, while the French-speaking side was represented only by the MR, which achieved a minority of the public votes in Wallonia. In May 2019 federal elections in the Flemish-speaking northern region of Flanders far-right Vlaams Belang party made major gains. In the French-speaking southern area of Wallonia the Socialists were strong. The moderate Flemish nationalist party

4386-412: The Netherlands ( 450 km ). Its total surface, including water area, is 30,689 km (11,849 sq mi). Before 2018, its total area was believed to be 30,528 km (11,787 sq mi). However, when the country's statistics were measured in 2018, a new calculation method was used. Unlike previous calculations, this one included the area from the coast to the low-water line, revealing

4488-722: The Netherlands , the United Kingdom , China, India and North America . The company was founded in 1898. It was led from 1905 until 1955 by the Belgian-American engineer of German origin Dannie Heineman (1872-1962). Historically, the company owned the Anglo-Argentine Tramways Company , which was one of the largest tram operators in the world at the time. From 1955 on, the current family shareholders started to invest. Yves Boël

4590-759: The Spanish ( Spanish Netherlands ) and the Austrian House of Habsburgs ( Austrian Netherlands ) and comprised most of modern Belgium. This was the theatre of several more protracted conflicts during much of the 17th and 18th centuries involving France, including the Franco-Dutch War (1672–1678), the Nine Years' War (1688–1697), the War of the Spanish Succession (1701–1714), and part of

4692-696: The United Kingdom of the Netherlands occurred at the dissolution of the First French Empire in 1814, after the abdication of Napoleon. In 1830, the Belgian Revolution led to the re-separation of the Southern Provinces from the Netherlands and to the establishment of a Catholic and bourgeois, officially French-speaking and neutral, independent Belgium under a provisional government and a national congress . Since

4794-399: The War of the Austrian Succession (1740–1748). Following the campaigns of 1794 in the French Revolutionary Wars , the Low Countries – including territories that were never nominally under Habsburg rule, such as the Prince-Bishopric of Liège – were annexed by the French First Republic , ending Austrian rule in the region. A reunification of the Low Countries as

4896-425: The Western Roman Empire , the Roman provinces of Belgica and Germania were inhabited by a mix of a Romanized population and Germanic -speaking Franks who came to dominate the military and political class. During the 5th century, the area came under the rule of the Frankish Merovingian kings, who initially established a kingdom ruling over the Romanized population in what is now northern France, and then conquered

4998-400: The war against the Islamic State , and in eastern Europe for the NATO presence there. List of countries by GDP per capita The ratio of GDP to 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

5100-422: The 19th century were the Catholic Party and the Liberal Party , with the Belgian Labour Party emerging towards the end of the 19th century. French was originally the official language used by the nobility and the bourgeoisie , especially after the rejection of the Dutch monarchy. French progressively lost its dominance as Dutch began to recover its status. This recognition became official in 1898, and in 1967,

5202-474: The Ardennes are more rugged and rocky with caves and small gorges . Extending westward into France, this area is eastwardly connected to the Eifel in Germany by the High Fens plateau, on which the Signal de Botrange forms the country's highest point at 694 m (2,277 ft). The climate is maritime temperate with significant precipitation in all seasons ( Köppen climate classification : Cfb ), like most of northwest Europe. The average temperature

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5304-428: The Belgian state to assume responsibility for the government of the colony, henceforth called the Belgian Congo . A Belgian commission in 1919 estimated that Congo's population was half what it was in 1879. Germany invaded Belgium in August 1914 as part of the Schlieffen Plan to attack France , and much of the Western Front fighting of World War I occurred in western parts of the country. The opening months of

5406-428: The Communities and Regions were created in 1980, Flemish politicians decided to merge both. Thus the Flemings just have one single institutional body of parliament and government is empowered for all except federal and specific municipal matters. The overlapping boundaries of the Regions and Communities have created two notable peculiarities: the territory of the Brussels-Capital Region (which came into existence nearly

5508-490: The County of Flanders and it became one of the richest areas in Europe. This prosperity played a role in conflicts between Flanders and the king of France . Famously, Flemish militias scored a surprise victory at the Battle of the Golden Spurs against a strong force of mounted knights in 1302, but France soon regained control of the rebellious province. In the 15th century, the Duke of Burgundy in France took control of Flanders, and from there proceeded to unite much of what

5610-548: The European Union, for which Belgium hosts major administrations and institutions, including the European Commission , the Council of the European Union and the extraordinary and committee sessions of the European Parliament . In the early 1990s, Belgium saw several large corruption scandals notably surrounding Marc Dutroux , Andre Cools , the Dioxin Affair , Agusta Scandal and the murder of Karel van Noppen . Belgium shares borders with France ( 620 km ), Germany ( 162/167 km ), Luxembourg ( 148 km ), and

5712-491: The Flemings refused to do so and succeeded progressively in making Dutch an equal language in the education system. Following World War II, Belgian politics became increasingly dominated by the autonomy of its two main linguistic communities. Intercommunal tensions rose and the constitution was amended to minimize the potential for conflict. Based on the four language areas defined in 1962–63 (the Dutch, bilingual, French and German language areas), consecutive revisions of

5814-400: The Latin name of a large Roman province covering most of Northern Gaul, including the Belgae and Treveri. However, areas closer to the lower Rhine frontier, including the eastern part of modern Belgium, subsequently became part of the frontier province of Germania Inferior , which continued to interact with their neighbours outside the empire. At the time when central government collapsed in

5916-458: The N-VA remained the largest party in parliament. In July 2019 prime minister Charles Michel was selected to hold the post of President of the European Council . His successor Sophie Wilmès was Belgium's first female prime minister. She led the caretaker government since October 2019. The Flemish Liberal party politician Alexander De Croo became new prime minister in October 2020. The parties had agreed on federal government 16 months after

6018-426: The Regions' and Communities' Governments is the broadest of all the Federating units of all the Federations all over the world. Because of its location at the crossroads of Western Europe , Belgium has historically been the route of invading armies from its larger neighbors. With virtually defenseless borders, Belgium has traditionally sought to avoid domination by the more powerful nations which surround it through

6120-403: The Roman province of Gallia Belgica in 22 BC. In the Middle Ages , the region was part of the Carolingian Empire , and much of it was later part of the Holy Roman Empire , and subsequently the Burgundian Netherlands . Belgium's central location has meant that the area has been relatively prosperous, connected commercially and politically to its bigger neighbours. The country as it exists today

6222-427: 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,

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6324-399: The cabinet to the king, as no progress in constitutional reforms had been made. In December 2008, Leterme once more offered his resignation after a crisis surrounding the sale of Fortis to BNP Paribas . At this juncture, his resignation was accepted and Christian Democratic and Flemish Herman Van Rompuy was sworn in as Prime Minister on 30 December 2008. After Herman Van Rompuy

6426-731: The civil servants. Communities exercise their authority only within linguistically determined geographical boundaries, originally oriented towards the individuals of a Community's language: culture (including audiovisual media), education and the use of the relevant language. Extensions to personal matters less directly connected with language comprise health policy (curative and preventive medicine) and assistance to individuals (protection of youth, social welfare, aid to families, immigrant assistance services, and so on.). Regions have authority in fields that can be broadly associated with their territory. These include economy, employment, agriculture, water policy, housing, public works, energy, transport,

6528-540: 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

6630-415: The country in May 1940 , and 40,690 Belgians, over half of them Jews, were killed during the subsequent occupation and the Holocaust . From September 1944 to February 1945 the Allies liberated Belgium. After World War II , a general strike forced King Leopold III to abdicate in 1951 in favour of his son, Prince Baudouin , since many Belgians thought he had collaborated with Germany during

6732-409: The country to be 160 km (62 sq mi) larger in surface area than previously thought. Its land area alone is 30,494 square kilometers. It lies between latitudes 49°30' and 51°30' N, and longitudes 2°33' and 6°24' E. Belgium has three main geographical regions; the coastal plain in the northwest and the central plateau both belong to the Anglo-Belgian Basin, and the Ardennes uplands in

6834-407: The country's constitution in 1970, 1980, 1988 and 1993 established a unique form of a federal state with segregated political power into three levels: The constitutional language areas determine the official languages in their municipalities, as well as the geographical limits of the empowered institutions for specific matters. Although this would allow for seven parliaments and governments when

6936-401: 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

7038-521: The elections. Following a usage which can be traced back to the Burgundian and Habsburg courts, in the 19th century it was necessary to speak French to belong to the governing upper class, and those who could only speak Dutch were effectively second-class citizens. Late that century, and continuing into the 20th century, Flemish movements evolved to counter this situation. While the people in Southern Belgium spoke French or dialects of French, and most Brusselers adopted French as their first language,

7140-621: The environment, town and country planning, nature conservation, credit and foreign trade. They supervise the provinces, municipalities and intercommunal utility companies. In several fields, the different levels each have their own say on specifics. With education, for instance, the autonomy of the Communities neither includes decisions about the compulsory aspect nor allows for setting minimum requirements for awarding qualifications, which remain federal matters. Each level of government can be involved in scientific research and international relations associated with its powers. The treaty-making power of

7242-507: The four components are subordinate to the Staff Department for Operations and Training of the Ministry of Defense , which is headed by the Assistant Chief of Staff Operations and Training , and to the Chief of Defense . The Belgian military consists of volunteers (conscription was abolished in 1995), and citizens of other EU states, Iceland, Norway, Switzerland, or Lichtenstein are also able to join. Belgium has troops deployed in several African countries as part of UN or EU missions, in Iraq for

7344-548: The government, and on 26 April 2010 King Albert officially accepted the resignation. The Parliamentary elections in Belgium on 13 June 2010 saw the Flemish nationalist N-VA become the largest party in Flanders, and the Socialist Party PS the largest party in Wallonia. Until December 2011, Belgium was governed by Leterme's caretaker government awaiting the end of the deadlocked negotiations for formation of

7446-553: 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

7548-568: The incumbent coalition (composed of Flemish and French-speaking Social Democrats, Liberals, and Christian Democrats) maintains a solid majority in Parliament and in all electoral constituencies. On 22 July 2014, King Philippe nominated Charles Michel (MR) and Kris Peeters (CD&V) to lead the formation of a new federal cabinet composed of the Flemish parties N-VA, CD&V, Open Vld and the French-speaking MR, which resulted in

7650-443: 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

7752-526: The inhabitants of the northernmost part of Gaul . They lived in a region stretching from Paris to the Rhine , which is much bigger than modern Belgium. However, he also specifically used the Latin word " Belgium " to refer to a politically dominant part of that region, which is now in northernmost France. In contrast, modern Belgium, together with neighbouring parts of the Netherlands and Germany, corresponds to

7854-463: The installation of Leopold I as king on 21 July 1831, now celebrated as Belgium's National Day , Belgium has been a constitutional monarchy and parliamentary democracy , with a laicist constitution based on the Napoleonic code . Although the franchise was initially restricted, universal suffrage for men was introduced after the general strike of 1893 (with plural voting until 1919) and for women in 1949. The main political parties of

7956-471: The invasion of Iraq . It is the only country that does not have age restrictions on euthanasia. Verhofstadt's coalition fared badly in the June 2007 elections . For more than a year, the country experienced a political crisis . This crisis was such that many observers speculated on a possible partition of Belgium . From 21 December 2007 until 20 March 2008 the temporary Verhofstadt III Government

8058-620: The lands of the most northerly Belgae – the Morini , Menapii , Nervii , Germani Cisrhenani , and Aduatuci . Caesar found these peoples particularly warlike and economically undeveloped, and described them as kinsmen of the Germanic tribes east of the Rhine. The area around Arlon in southern Belgium was a part of the country of the powerful Treveri , to whom some of them paid tribute. After Caesar's conquests, Gallia Belgica first came to be

8160-657: The other Frankish kingdoms. During the 8th century, the empire of the Franks came to be ruled by the Carolingian dynasty , whose centre of power included the area which is now eastern Belgium. Over the centuries, it was divided up in many ways, but the Treaty of Verdun in 843 divided the Carolingian Empire into three kingdoms whose borders had a lasting impact on medieval political boundaries. Most of modern Belgium

8262-852: The parliament accepted a Dutch version of the Constitution . The Berlin Conference of 1885 ceded control of the Congo Free State to King Leopold II as his private possession. From around 1900 there was growing international concern for the extreme and savage treatment of the Congolese population under Leopold II , for whom the Congo was primarily a source of revenue from ivory and rubber production. Many Congolese were killed by Leopold's agents for failing to meet production quotas for ivory and rubber. In 1908, this outcry led

8364-504: The political and linguistic interests of these communities. The major parties in each community, though close to the political center, belong to three main groups: Christian Democrats , Liberals , and Social Democrats . Further notable parties came into being well after the middle of last century, mainly to represent linguistic , nationalist, or environmental interests, and recently smaller ones of some specific liberal nature. A string of Christian Democrat coalition governments from 1958

8466-543: 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

8568-586: The population, exists in the East Cantons . The Brussels-Capital Region is officially bilingual in French and Dutch, although French is the majority language and lingua franca . Belgium's linguistic diversity and related political conflicts are reflected in its complex system of governance, made up of six different governments . In antiquity the region around Belgium was inhabited by the Belgae , and became

8670-430: 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

8772-512: 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

8874-445: 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

8976-587: 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

9078-408: 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

9180-401: 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

9282-533: The southeast to the Hercynian orogenic belt . The Paris Basin reaches a small fourth area at Belgium's southernmost tip, Belgian Lorraine . The coastal plain consists mainly of sand dunes and polders . Further inland lies a smooth, slowly rising landscape irrigated by numerous waterways, with fertile valleys and the northeastern sandy plain of the Campine ( Kempen ). The thickly forested hills and plateaus of

9384-536: 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

9486-448: The transition from a unitary to a federal arrangement between 1970 and 1993. Despite the reforms, tensions have persisted: there is particularly significant separatist sentiment among the Flemish ; language laws such as the municipalities with language facilities have been the source of much controversy; and the government formation period following the 2010 federal election set a world record at 589 days. Unemployment in Wallonia

9588-728: The war were known as the Rape of Belgium due to German excesses. Belgium assumed control of the German colonies of Ruanda-Urundi (modern-day Rwanda and Burundi ) during the war, and in 1924 the League of Nations mandated them to Belgium. In the aftermath of the First World War, Belgium annexed the Prussian districts of Eupen and Malmedy in 1925, thereby causing the presence of a German-speaking minority. German forces again invaded

9690-702: The war. The Belgian Congo gained independence in 1960 during the Congo Crisis ; Ruanda-Urundi followed with its independence two years later. Belgium joined NATO as a founding member and formed the Benelux group of nations with the Netherlands and Luxembourg. Belgium became one of the six founding members of the European Coal and Steel Community in 1951 and of the European Atomic Energy Community and European Economic Community , established in 1957. The latter has now become

9792-473: 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

9894-568: Was broken in 1999 after the first dioxin crisis , a major food contamination scandal. A "rainbow coalition" emerged from six parties: the Flemish and the French-speaking Liberals, Social Democrats and Greens. Later, a " purple coalition " of Liberals and Social Democrats formed after the Greens lost most of their seats in the 2003 election . The government led by Prime Minister Guy Verhofstadt from 1999 to 2007 achieved

9996-547: Was designated the first permanent President of the European Council on 19 November 2009, he offered the resignation of his government to King Albert II on 25 November 2009. A few hours later, the new government under Prime Minister Yves Leterme was sworn in. On 22 April 2010, Leterme again offered the resignation of his cabinet to the king after one of the coalition partners, the OpenVLD , withdrew from

10098-526: Was established following the 1830 Belgian Revolution , when it seceded from the United Kingdom of the Netherlands , which had incorporated the Southern Netherlands (which comprised most of modern-day Belgium) after the Congress of Vienna in 1815. Belgium has been called "the Battlefield of Europe", a reputation reinforced in the 20th century by both world wars . Belgium was an early participant in

10200-493: 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

10302-541: Was in office. This was a coalition of the Flemish and Francophone Christian Democrats , the Flemish and Francophone Liberals together with the Francophone Social Democrats . On that day a new government , led by Flemish Christian Democrat Yves Leterme , the actual winner of the federal elections of June 2007 , was sworn in by the king. On 15 July 2008 Leterme offered the resignation of

10404-543: Was in the Middle Kingdom , later known as Lotharingia , but the coastal county of Flanders , west of the Scheldt , became the northernmost part of West Francia , the predecessor of France . In 870 in the Treaty of Meerssen , modern Belgium lands all became part of the western kingdom for a period, but in 880 in the Treaty of Ribemont , Lotharingia came under the lasting control of the eastern kingdom, which became

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