Belgium Pestel
Belgium PESTEL
Political
Belgium is a politically stable country. The government type of Belgium is parliamentary democracy under a constitutional monarchy. Belgium achieved independence in October 4, 1830. The constitution was drafted in 1830, approved by congress and was enforced in 1831. In 1993, Belgian government consolidated a version of constitution by incorporating all previous versions in 1993.
King Albert II is the chief of the state. Head of the government is the Prime minister. The leader of the majority party or the leader of the majority coalition usually appoint the prime minister by the monarch and the approved by parliament.
Bicameral parliament consist senate consisted of 71 seats (40 elected members by popular votes and 31 indirectly selected). There are three levels of the government; they are federal, regional and linguistic community. The government structure is quite complex.
Belgian politics is quite stable even though it is not a pure democracy. Many international companies from the United States, the UK, Australia, Germany and France have stable presence in Belgium. Belgium played influential role on forming NATO and European Union.
Economic
Belgian economy is modern, open and private enterprise based. Belgian economy consists of central geographic location with the European Union, highly developed transportation network and diversified industrial and commercial base. Belgium does not have any significant natural resources; however, they were able to establish themselves an important player in the world economy. Belgium is the 15th largest economy in terms of trade in 2007.
Due to exporting large quantities of manufactured goods, Belgian economy is closely attached with the world markets and vulnerable to the world market’s volatility. More than 65% of the trade is with other EU countries. Belgian unemployment rate is 7.7% which is even below the United States. They have a GDP of approximately $413.7 billion in 2011.
Political
Belgium is a politically stable country. The government type of Belgium is parliamentary democracy under a constitutional monarchy. Belgium achieved independence in October 4, 1830. The constitution was drafted in 1830, approved by congress and was enforced in 1831. In 1993, Belgian government consolidated a version of constitution by incorporating all previous versions in 1993.
King Albert II is the chief of the state. Head of the government is the Prime minister. The leader of the majority party or the leader of the majority coalition usually appoint the prime minister by the monarch and the approved by parliament.
Bicameral parliament consist senate consisted of 71 seats (40 elected members by popular votes and 31 indirectly selected). There are three levels of the government; they are federal, regional and linguistic community. The government structure is quite complex.
Belgian politics is quite stable even though it is not a pure democracy. Many international companies from the United States, the UK, Australia, Germany and France have stable presence in Belgium. Belgium played influential role on forming NATO and European Union.
Economic
Belgian economy is modern, open and private enterprise based. Belgian economy consists of central geographic location with the European Union, highly developed transportation network and diversified industrial and commercial base. Belgium does not have any significant natural resources; however, they were able to establish themselves an important player in the world economy. Belgium is the 15th largest economy in terms of trade in 2007.
Due to exporting large quantities of manufactured goods, Belgian economy is closely attached with the world markets and vulnerable to the world market’s volatility. More than 65% of the trade is with other EU countries. Belgian unemployment rate is 7.7% which is even below the United States. They have a GDP of approximately $413.7 billion in 2011.