Markets Actual Q3 Q4 Q1 Q2 2021
Currency 1.18 1.18 1.17 1.17 1.17 1.16
Stock Market (points) 3422.00 3346 3272 3199 3128 2986
Government Bond 10Y (%) -0.15 0.01 0.03 0.05 0.07 0.1

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -12.20 8.5 1.8 1.2 0.9 0.3
GDP Annual Growth Rate (%) -14.50 -5.8 -3.7 2.2 13.5 3.2
Unemployment Rate (%) 5.50 6.9 7.2 7.5 7 6.5
Inflation Rate (%) 0.73 0.5 0.6 1 1.6 1.8
Inflation Rate Mom (%) 0.22 0.2 0.3 0.2 0 0.4
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 3106.40 3750 1090 100 2500 1090
Current Account (EUR Million) 1545.00 -300 -1100 -1100 -1900 -1500
Current Account to GDP (%) -1.20 -0.3 -0.3 -0.5 -0.5 -0.5
Government Debt to GDP (%) 98.60 114 114 111 111 111
Government Budget (% of GDP) -1.90 -7.8 -7.8 -5.6 -5.6 -5.6
Business Confidence (points) -13.90 -11 -9 -6 -5 -3
Consumer Confidence (points) -20.00 -17 -16 -13 -10 -8
Retail Sales MoM (%) 5.10 -0.3 -0.1 1.5 0.6 0.4
Corporate Tax Rate (%) 29.00 29 29 29 29 29
Personal Income Tax Rate (%) 53.70 53.7 53.7 53.7 53.7 53.7

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -12.20 8.5 1.8 1.2 0.9 0.3
GDP Annual Growth Rate (%) -14.50 -5.8 -3.7 2.2 13.5 3.2
GDP (USD Billion) 529.61 495 495 512 512 512
GDP Constant Prices (EUR Million) 107561.00 108891 107444 109927 122082 110882
Gross National Product (EUR Million) 110364.70 114488 112779 112793 125264 116388
Gross Fixed Capital Formation (EUR Million) 26141.00 26475 26140 26716 29670 26976
GDP per capita (USD) 47540.90 46000 46000 47400 47400 47400
GDP per capita PPP (USD) 51707.80 50600 50600 51500 51500 51500
GDP From Agriculture (EUR Million) 333.00 437 260 340 378 268
GDP From Construction (EUR Million) 4896.00 4861 5591 5004 5557 5770
GDP From Manufacturing (EUR Million) 15374.00 14973 15363 15712 17449 15854
GDP From Public Administration (EUR Million) 13901.00 13091 14330 14207 15778 14789
GDP From Services (EUR Million) 17090.00 17720 18401 17466 19397 18990

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 5.50 6.9 7.2 7.5 7 6.5
Labour Costs (points) 107.80 108 107 109 109 109
Minimum Wages (EUR/Month) 1593.81 1595 1595 1595 1595 1615
Wage Growth (%) 3.40 1.3 1.4 1.4 1.4 1.2
Population (Million) 11.46 11.53 11.53 11.59 11.59 11.59
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wages In Manufacturing (points) 129.20 99.17 131 131 131 133

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 0.73 0.5 0.6 1 1.6 1.8
Inflation Rate Mom (%) 0.22 0.2 0.3 0.2 0 0.4
Consumer Price Index CPI (points) 109.76 109 110 111 111 112
Core Consumer Prices (points) 108.68 108 109 109 110 111
Core Inflation Rate (%) 3.10 1.5 1.7 1.7 1.7 1.8
Producer Prices (points) 109.50 116 119 114 110 121
Food Inflation (%) 3.66 1.2 1.4 1.4 1.4 1.7
Harmonised Consumer Prices (points) 108.33 108 109 109 110 111
Producer Prices Change (%) -6.30 -0.5 0.5 0.5 2.5 2.2
CPI Transportation (points) 107.59 108 109 108 108 111

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.33 -0.33 -0.33 -0.33 -0.33 -0.33

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Million) 3106.40 3750 1090 100 2500 1090
Current Account (EUR Million) 1545.00 -300 -1100 -1100 -1900 -1500
Current Account to GDP (%) -1.20 -0.3 -0.3 -0.5 -0.5 -0.5
Imports (EUR Million) 27305.50 29050 29000 32000 31000 29500
Exports (EUR Million) 30411.90 32800 30500 32100 33500 31000

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 98.60 114 114 111 111 111
Government Budget (% of GDP) -1.90 -7.8 -7.8 -5.6 -5.6 -5.6
Government Budget Value (EUR Million) -3402.00 2400 2400 2400 2400 3584
Government Spending (EUR Million) 24832.00 25011 24686 25378 28184 25475
Government Spending to GDP (%) 52.20 59.3 59.3 54.5 54.5 54.5

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 29.00 29 29 29 29 29
Personal Income Tax Rate (%) 53.70 53.7 53.7 53.7 53.7 53.7
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 45.57 45.57 45.57 45.57 45.57 45.57
Social Security Rate For Companies (%) 32.50 32.5 32.5 32.5 32.5 32.5
Social Security Rate For Employees (%) 13.07 13.07 13.07 13.07 13.07 13.07

Business Actual Q3 Q4 Q1 Q2 2021
Business Confidence (points) -13.90 -11 -9 -6 -5 -3
Industrial Production (%) -28.00 -7.4 -5 3.5 4.8 5.2
Industrial Production Mom (%) 5.30 -0.3 0.4 0.4 0.4 0.3

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) -20.00 -17 -16 -13 -10 -8
Retail Sales MoM (%) 5.10 -0.3 -0.1 1.5 0.6 0.4
Retail Sales YoY (%) 5.10 0.5 0.8 1.2 1.4 1.3
Consumer Spending (EUR Million) 53677.00 56029 55298 54858 60923 57068
Disposable Personal Income (EUR Million) 85654.60 91200 89682 87539 97218 92552
Bank Lending Rate (%) 1.59 1.58 1.58 1.58 1.58 1.58
Gasoline Prices (USD/Liter) 1.65 1.5 1.43 1.35 1.29 1.22
Consumer Credit (EUR Thousand) 7504064.00 7519153 7308586 7756676 8517113 7542461

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -1.50 -2 -1 18 7 0.5


This page has economic forecasts for Belgium including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Belgium economy.