The Belgium Franc was changed into the Euro in 2002.
Convert $1 US Dollar to Euro (€) in the Google Currency Converter to find what one USD to a Euro
Chief Exports:
My chief exports are iron, steel, chemicals, textiles, machinery, road vehicles and parts, nonferrous (nonmagnetic) metals, diamonds, and foodstuffs.
Chief Imports:
My chief imports include general manufacturers, foodstuffs, diamonds, metals and metal ores, petroleum and petroleum products, chemicals, clothing, machinery, electrical equipment, and motor vehicles.
Gross Domestic Product:
US $45.9 billion (purchasing power parity)
Balance of Trade:
In 2003, the total value of my exports was estimated to $189.2 billion.
And the total imports was estimated to $173 billion.
My Country Overview (Location and Size, Population):
You can catch me in the northwest of Europe, and the North Sea occupies some of my personal space there. I am surrounded by all my friends: Netherlands in the north and northeast, Germany...east, Luxembourg to the southeast, and France to the south and west. In January, I freeze! 37 degrees Farenheit! But I get a little warmer around June: 64.
I have many nationalities in my population: I am 58% Dutch-speaking Flemish and 31% French-speaking Walloon...I know! Cool, right? I can also speak three languages: Dutch, French, and German. I am mostly Roman Catholic...75% to be more accurate. Here...you can expect to live about 79 years average.
In 2007, I was counted for 10,392,226 people for my population. This put me to number 76 with the most populous nations...cool, right? It is an honor. Don't forget! It was out of 194 nations too! But as exciting as I sound...I am an attraction for older people...mostly males...17.4%: 95.9 males to 100 females. Also, the UN are saying that by 2020, I'll have 10,465,034 residents. Most of the people of this population lived in my major cities: Brussels (Brussel, Bruxelles), 998,000; Antwerp (Antwerpen, Anvers), 952,600; Gent (Ghent, Gand), 230,951; Charleroi, 206,779; Liège (Luik), 196,825; Brugge (Bruges), 117,172; and Namur (Namen), 106,213.
OK, so people are comparing me to the United States of America. You want to know the differences? Fine! Read on!
America is on the other side of the world of from me...in the Western Hemisphere. I'll admit...she's bigger and more popular than me! She is the 4th largest country in the world. She is bordered to the North by Canada, the East by the Atlantic Ocean, the West by the Pacific Ocean,and the South by the Gulf of Mexico and Mexico. Yeah, yeah! The popular crowd!
And she has a bigger fan club (population) than me! In 2007, it was 301,139,947 people, which gave her 3rd place out of the 194 countries for "Most Populous Country."The percentage in of people in 2007 was as follows: 12.6% 65 years of age or older, and 20.2% 15 years of age and under. There were 96.7 males for every 100 females.And the estimated population for 2020 is336,031,546 people.
Most of the US's religious traditions are Judeo-Christian, and mostly everyone identifies themselves as Protestants (under many different denominations), Catholics, or Jews. In 2000, it was estimated that 141 million were affiliated with a religion. The largest, or most populous, Christian denomination in America is Roman Catholic.Membership at a Roman Catholic church was estimated, in 2004, to be around 66.4 million people/memberships. But it is not just Roman Catholic people. She is not a religion-hater. Many Jews (6.1 million-1995), Muslims (3.7 million-1995), Buddhists (1.8 million-1995), Hindus (795,000-1995), and atheists (874,000-1995) reside in America.
People from America usually speak English.But other languages are spoken as well, such as, Spanish. But there are educational programs in the US that aid in the learning process of other languages.
My Government is:
I have a hereditary monarchy...ruled by the Constitution of 1831. Basically, in a hereditary monarchy, rule was passed down from generation to generation to generation. But no matter who rules (either male of female) the current, past, and/or future rulers would be known by the king...even if it was the queen who received rule and married a man.
There are three communities (according to the consitutional reform of 1980): The Dutch-, French-, and German-speaking countries. They have...together...responsibility for cultural affairs, education, and matters concerning the people. Also, there are three regions responsible for the regional aspects of a "broad range of concerns": economy, energy, public works and housing, employment, and environmental policy. The community institutions and regions contain the same principles as those of the national political structure: each entity has a "regional parliament" (the council), whose decisions are enforced and made by a "regional government" (the executive). The executive and council are elected directly and can only not be elected if there is a veto of no confidence.
America's government is slightly different form Belgium's...OK! A lot different.
America's rules and regulations are governed by a piece of parchment they call the Declaration of Independence. The whole country lives under the rules made by some dead men that lived 100s of years ago.No offense! The first 10 "amendments" are called the Bill of Rights.These amendments prohibit the establishment of a state religion and the abridgment of freedom of speech, press, and the right to assemble. They protect all persons against unreasonable searches and seizures, guarantee trial by jury, and prohibit excessive bail and cruel and unusual punishments.
America has a federal form of government with the powers being distributed between the federal government and the states "constitutionally defined." Her Congress has the legislative power.
America does not have a king or queen. She has three branches: 1.) Legislative branch, 2.) Executive branch, and 3.) Judicial branch.
Detailed Overview of my Economy:
I am one of the most industrialized countries in all of Europe. I lack many natural resources, so I have them imported from many countries. I receive these natural resources in raw materials so that I may process them into different products. About three-fourths of my foreign trade is with other European nations. One reason that I have maintained an industrial status is because I can meet the changing requirements and needs of others rather quickly. In 2004, my standard of living was one of the highest in the world, fourth in fact. This shows that my Real GDP per capita is fairly high because my standard of living was compared to many countries.
The US has the world's largest economy. Her natural resources are the most plentiful on earth...show off! America is one of the largest exporters ofcoal, wheat, corn, and soybeans. But because its economy is growing so vastly and quickly, America depends mostly on foreign resources.
Unemployment Rate:
My unemployment rate cannot make up its mind. It climbs then falls. In 1998, it was 12%. Then in 2002, it decreased to 7.2%. Then in 2005, it stepped up to 7.6%.
The citizens are allowed to express their rights of freedom through unions. 63% of the people (employed and unemployed) have joined the unions. They also have the right to strike, which they do express, except against "essential" industries such as the military.
The unemployment rate of America was 6.3% in 2003. And in the third quarter of 2005, it decreased to 4.3%. In 2007,the unemployment rate rose to 5% because of the rising oil and gas prices.
Percentage of Population Under the Poverty Line:
In 2007, 15.2% of the population lived on an income below the poverty line in Belgium.
In 2004, about 12% of the population are below the povery line. If there are 300 million people in the US, that is about 3.6 million people that are in poverty!
Foreign Aid/Grants:
I am part of the European Union (EU). Brussels, although the capital of Belgium, is also the capital of the European Union. On the 16th of October 1967, the North Atlantic Treaty Organization or NATO was moved from Paris to Brussels. I have also partnered with Luxembourg (a really tiny country) in the Belgium-Luxembourg Economic Union (BLEU). After about 30 years, Luxembourg and I signed a treaty with the Netherlands as the Belgium-Netherlands-Luxembourg or Benelux. I am also a part of many unions and even the Asian Development bank.
US, Canada, and Mexico all signed a treaty, the North American Free Trade Agreement (NAFTA). This agreement allows free trade between all 3 countries. The US is also part of NATO. Which I am in too!
Taxation Policy:
Since 2005, the individual income tax is 50%! There is also a tax for businesses, which is called, general corperate income taxs. This general corperate income tax is 33% since 2005. After the recessions in the 1980s and 1990s, my governent tried to stimulate the economy by starting various programs and subsidizing businesses. I also tried to bring in foreign businesses and capital. I even tried cutting taxes but it unfortunately lead to national debt.
So these American corperations are only taxed from 15% to 39.5% depending on how much money they make. If these corperations make more money, they are taxed more. Tax on imported goods or services are only 0.7% These goods are the only things that are NOT taxed are certain motor vehicles, personal air transportation, some motor fuels (excluding gasohol), alcoholic beverages, tobacco products, tires and tubes, telephone charges, and gifts and estates. (United States) Individuals that have a medium to low income are only taxed 5% but those who make much more money are taxed 15%. American taxes are so confusing!
Economic Sectors:
Services 71.6%
Main tourist areas are along the coast. There are many hotels or resorts and beaches. Most of the tourists flock from other European Countries
The main banks are Fortis Bank, Brussels Bank Lambert, and KBC. You can read on the Fortis takeover in NY times article below.
Agriculture 1.4%
Businesses that mainly do agricultural duties are slowly taking over small family farms.
The main crops that I produce is barley, corn, potatoes, sugar beets, wheat, and assorted fruits and vegetables. (Lansford 54)
Industry 27%
The electronics business in general is worth 300 Billion Belgium francs. Which is about €7,436,803,971.56 or $10,105,872,916.95
95% of the automobiles that are produced in Belgium are exported to other countries.
International Trade:
Foreign/International trade benefits and affects me more than any other country in Europe...you know...except Luxembourg. But Luxembourg and I are cool. We actually teamed up in 1921. We called ourselves the best name EVER: the Belgium-Luxembourg Economic Union (BLEU). You can see my chief imports and exports above.
In 2004, 77.4% of the exports and 74% of the imports are traded with all the EU countries. In 2004, my most loyal friends (leading markets) were Germany (17.5% of total exports), France (17.4%), the Netherlands (12.9%), the United Kingdom (8.6%), and Italy (5.4%). Also, my leading suppliers were the Netherlands (19.9% of all imports), Germany (16.6%), France (13.7%), the United Kingdom (7.8%), and the United States (5.6%).
America is a main center of trade for most countries. She trades with China, Japan, India, Me...practically everybody!!
Name of Stock Exchange:
The Brussels Stock Exchange was founded in 1801. The Commercial Code of 1935 controls and organizes my stock exchange.
Natural Resources:
OK! I'll admit it! I'm not that full of natural resources! I mostly import raw materials then process them and stuff then use them as exports! But I have taken the responsibility to lead the modernizing of plants and the creation of new industries. I just mostly import raw materials from foreign countries and process them into goods that everyone can use! I then export these new goods which make up a big part of my economy.
Environmental Issues:
In 2000, my issues were air, land, and water pollution because of the heavy concentration of industrial facilities.
To prevent water problems, my water was protected, and still is, by dikes. My water is threatened by hazardous levels of heavy metals, mercury, and phosphorous.
My air pollution reaches high levels because of the abundance of lead and hydrocarbons. I am among the 50 nations that exert the most carbon dioxide from industrial sources. I have also badly influenced other countries by my gas emitions and have caused acid rain.
America has many, many institutions that help deal with her environmental issues. Some include responsibilities for air, noise, and water pollution, waste management, and control of toxic substances. The institutions that are mainly responsible for these are:The Environmental Protection Agency,Forest Service and Soil Conservation Service within the Department of Agriculture, the Fish and Wildlife Service and the National Park Service within the Department of the Interior, the Department of Energy, and the Nuclear Regulatory Commission,and the Endangered Species Act of 1973, protecting wildlife near extinction.
Net Migration Rate/Migration Section
1.22 migrants per 1,000
This statistic from the CIA world fact book shows that for every 1,000 people, 1.22 migrants are entering or leaving me. As more people enter the country, it can produce job shortages. But on a demand scale, the bigger the population, the bigger the demand for a certain product. This also works vice versa. As more people emigrate from me, the lower the demand for a certain product. If more people enter the country and stay, this can probably increase the housing starts. If housing starts increase, we can see an increase of GDP. But if more people enter the country, it can produce layoffs or job shortages. Unemployment is one of the economic indicators. If unemployment rises, then my GDP will go down aswell. The standard of living will also decrease too. This is NOT good for me. On the bright side, the ratio is not negative. For example, -5.24 migrants per 1,000. This means that people are migrating into me but at a very slow rate. Atleast it I am not decreasing.
Banking and Securities:
Because I use the euro as my currency, the European Central Bank acts as my bank. You get what you pay for I guess! And also because I use the euro, the European Central Bank (ECB) sets the discount rate. In 2005, the discount rate was around 3.5%.
Literacy Rate and Education Expenditures (Education Section):
The adult literacy rate is estimated at around 98% and the approximate public expenditure on education was 6.1% of GDP in 2004.
America has many different types of schools that deal with individuals ages 6-17. They divide them by grades. Usually people 6 years of agebecome 1st graders. 17 year olds are in the highest grade: 12th. There are schools that deal with children lower than 6 years. They are kindergartens and preschools.
There are two main types of schools: public and private. Public schoolsare controlled and supported by the local authorities, as well as state or federal governmental agencies. Private schools are controlled and supported by religious or private organizations.
But as for schools such as the IA. They are still in categorized as a public school, but are under programs such as the IB Curriculum. These schools are known as magnet schools which specialize in advanced teachings.
BelgiumMap (Online Image) Available <http://callisto.ggsrv.com/imgsrv/Fetch?recordID=geod_01_img0045&contentSet=Gale&banner=49d4d25a&digest=f285a395bfe7e220d095f47c3e739a8f> 2 Apr. 2009
"Belgium." Worldmark Encyclopedia of the Nations. Ed. Timothy L. Gall and Susan Bevan Gall. Online ed. Detroit: Gale, 2009. Global Issues in Context. Gale. INTERNATIONAL ACADEMY HIGH SCHOOL. Retrieved 2 Apr. 2009, from Global Issues in Context
Jolly, David. "Takeover of Belgian bank sparks anger at meeting.(Business/Financial Desk)." The New York Times 158.54660 (April 29, 2009): na(L). New York Times. Gale. Library of Michigan. 18 May 2009
<http://0-find.galegroup.com.elibrary.mel.org/itx/start.do?prodId=SPN.SP00>.
"The Flag of Belgium." . Global Issues in Context. Gale. INTERNATIONAL ACADEMY HIGH SCHOOL. Retrieved 2 Apr. 2009, from Global Issues in Context
"United States." Worldmark Encyclopedia of the Nations. 13 May 2009 <http://find.galegroup.com/gic/docRetrieve.do?inPS=true&searchPageType=BasicSearchForm&prodId=GIC&docId=EJ2305100366&userGroupName=lom_inac#Government>
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