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| Capital city: |
Brussels |
| Surface area: |
33,000 sq km |
| Population: |
10.8 million |
| Official language(s): |
Dutch, French, German |
| Head of State: |
H.M. King Albert II |
| Head of Government: |
Prime Minister Mr Herman Van Rompuy |
| Australian exports to Belgium: |
A$1,520 million |
| Australian imports from Belgium: |
A$1,912 million |
| Belgium's principal export destinations: |
Germany, France, Netherlands |
| Belgium's principal import sources: |
Netherlands, Germany, France | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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| The European Council and the European Commission are based in Brussels and their presence ensures that the title of ‘the capital of Europe’ is bestowed on the city. The North Atlantic Treaty Organisation (NATO) also has its headquarters here, as do hundreds of multinationals. With its central location Belgium is also considered a transit and distribution centre for other European Union member countries.
In the last 20 years the economy has been transformed with industries such as chemicals, light engineering, food processing, and the services industry significantly increasing in worth, while coal and steel have declined in importance.
Since 1993 the government has privatised much of the public sector.
Belgium adopted strict fiscal policies to qualify for membership of the European Economic and Monetary Union (EMU) in 1998 (along with the 11 other first wave Member States).
The current government is committed to cutting employer’s costs, reforming the tax system and creating jobs to ensure Belgium remains competitive. Belgium is pro-foreign investment and international trade. More than two thirds of Belgium's GDP derives from foreign sales, one of the highest percentages among industrialised nations.
Employers’ costs are among the highest in the EU, while productivity levels are among the highest in the world. Almost one-fifth of the labour force has a third level education and works in a science and technology occupation. The most economic growth since World War II has been in the Flanders region, and as a result, unemployment in Wallonia is usually about 10 percentage points higher than in Flanders.
In Brussels, there are more than 2,000 international companies, 160 diplomatic representations, and 1,400 international organisations. The main employers in Belgium are: - The manufacturing industry
- The services sector (eg. finance, insurance, real estate and business)
- The heavy industry (eg. mining and quarrying, power and construction)
For the latest key economic indicators and statistics please see the Department of Foreign Affairs and Trade country economic fact sheet. | |
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Belgium was founded in 1831, and is a constitutional, hereditary monarchy. Since 1993 the Head of State has been King Albert II. Parlament is elected for a maximum four-year term.
Belgium unites the Dutch-speaking Flemish and the French speakers of Wallonia and Brussels. There have long been tensions between the two, so in 1995 Belgium was declared a federal state and divided into three linguistic communities (French, Dutch and German speakers) and economic power was granted to three regional governments (Flanders, Wallonia and the Brussels Capital Region). Approximately 35–40 per cent of public expenditure is now controlled by the sub-national governments.
(Source: Department of Foreign Affairs and Trade - Country brief)
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