Markets Actual Q2 Q3 Q4 Q1 2022
Currency 1.20 1.19 1.19 1.18 1.18 1.17
Stock Market (points) 3978.43 3854 3768 3685 3603 3439
Government Bond 10Y (%) 0.00 0.05 0.06 0.06 0.07 0.08

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.10 0.8 1.4 0.8 0.8 0.6
GDP Annual Growth Rate (%) -5.10 10.5 4.3 5.1 7.3 3
Unemployment Rate (%) 5.70 7 7.4 7.7 7.2 7
Inflation Rate (%) 0.89 1.7 2.5 2.7 2.3 1.5
Inflation Rate Mom (%) 0.27 0.2 0.2 0.4 0.1 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 1089.40 1090 100 1090 1090 1090
Current Account (EUR Million) -306.00 -1900 -1900 -1500 -1500 -700
Current Account to GDP (%) -1.20 -1 -1 -1 -1.5 -1.5
Government Debt to GDP (%) 98.60 116 116 116 118 118
Government Budget (% of GDP) -10.60 -6.8 -6.8 -6.8 -5.7 -5.7
Business Confidence (points) -1.00 2 1.5 1 0.8 2.5
Consumer Confidence (points) -4.00 -8 -3.5 -3.9 -1 -1
Retail Sales MoM (%) 2.90 0.5 -0.5 0.4 1 0.3
Corporate Tax Rate (%) 29.00 29 29 34 34 34
Personal Income Tax Rate (%) 50.00 53.7 50 53.7 53.7 53.7

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.10 0.8 1.4 0.8 0.8 0.6
GDP Annual Growth Rate (%) -5.10 10.5 4.3 5.1 7.3 3
GDP (USD Billion) 529.61 512 512 512 512 530
GDP Constant Prices (EUR Million) 106254.00 102721 104599 115166 111673 115023
Gross National Product (EUR Million) 115133.20 105398 117181 119342 121005 124635
Gross Fixed Capital Formation (EUR Million) 26607.00 24965 23571 27448 27964 28803
GDP per capita (USD) 47540.90 47400 47400 47400 47400 47800
GDP per capita PPP (USD) 51707.80 51500 51500 51500 51500 52000
GDP From Agriculture (EUR Million) 398.00 318 512 621 418 431
GDP From Construction (EUR Million) 5883.00 4676 5157 5570 6183 6369
GDP From Manufacturing (EUR Million) 16101.00 14682 14838 17034 16922 17430
GDP From Public Administration (EUR Million) 14568.00 13275 15916 15610 15311 15770
GDP From Services (EUR Million) 16864.00 16321 15290 20092 17724 18256

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 5.70 7 7.4 7.7 7.2 7
Labour Costs (points) 111.60 120 107 123 123 123
Minimum Wages (EUR/Month) 1625.72 1695 1695 1695 1695 1740
Wage Growth (%) -1.50 1.4 1.4 1.2 1.2 1.2
Population (Million) 11.52 11.59 11.59 11.59 11.59 11.65
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wages In Manufacturing (points) 127.10 99.7 131 103 103 103

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 0.89 1.7 2.5 2.7 2.3 1.5
Inflation Rate Mom (%) 0.27 0.2 0.2 0.4 0.1 0.2
Consumer Price Index CPI (points) 110.51 110 111 117 112 114
Core Consumer Prices (points) 108.49 108 109 110 110 110
Core Inflation Rate (%) 0.90 1.7 1.7 1.8 1.8 1.8
Producer Prices (points) 120.70 111 111 135 118 120
Food Inflation (%) 109.88 -0.5 0.1 0.8 1 1.7
Harmonised Consumer Prices (points) 110.07 109 110 116 112 113
Producer Prices Change (%) 3.60 1 1 2.2 2.2 1.8
CPI Transportation (points) 110.05 107 108 115 111 112

Money Actual Q2 Q3 Q4 Q1 2022
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 Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) 1089.40 1090 100 1090 1090 1090
Current Account (EUR Million) -306.00 -1900 -1900 -1500 -1500 -700
Current Account to GDP (%) -1.20 -1 -1 -1 -1.5 -1.5
Imports (EUR Million) 28588.40 31000 31000 29500 29500 30000
Exports (EUR Million) 29677.80 33500 33500 31000 31000 31150

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 98.60 116 116 116 118 118
Government Budget (% of GDP) -10.60 -6.8 -6.8 -6.8 -5.7 -5.7
Government Budget Value (EUR Million) -9279.00 2400 2400 3584 3584 3584
Government Spending (EUR Million) 25117.00 23715 25064 26374 26398 27190
Government Spending to GDP (%) 52.20 54.5 54.5 54.5 54.5 54.2

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 29.00 29 29 34 34 34
Personal Income Tax Rate (%) 50.00 53.7 50 53.7 53.7 53.7
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 40.57 40.57 40.57 40.57 40.57 40.57
Social Security Rate For Companies (%) 27.50 32.5 27.5 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 Q2 Q3 Q4 Q1 2022
Business Confidence (points) -1.00 2 1.5 1 0.8 2.5
Industrial Production (%) 0.10 9.5 5.2 3.5 3.3 2.9
Industrial Production Mom (%) -3.70 0.4 0.4 0.3 0.3 0.3

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -4.00 -8 -3.5 -3.9 -1 -1
Retail Sales MoM (%) 2.90 0.5 -0.5 0.4 1 0.3
Retail Sales YoY (%) 11.00 1.5 3.5 2.8 3.1 1.9
Consumer Spending (EUR Million) 52137.00 51262 51880 57718 54796 56440
Disposable Personal Income (EUR Million) 90240.50 81800 89081 94871 94843 97688
Bank Lending Rate (%) 1.57 1.57 1.57 1.57 1.57 1.57
Gasoline Prices (USD/Liter) 1.77 1.64 1.56 1.38 1.41 1.34
Consumer Credit (EUR Thousand) 7387560.00 7248166 8291991 8368306 7801141 8035175

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) -10.90 2.5 0.9 2.1 0.7 1.5


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.