Markets Actual Q4 Q1 Q2 Q3 2022
Currency 1.16 1.16 1.15 1.15 1.14 1.13
Stock Market (points) 4200.85 4095 3988 3885 3784 3590
Government Bond 10Y (%) 0.20 0.07 0.08 0.09 0.09 0.11

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 1.70 1.1 0.8 0.7 0.7 0.6
GDP Annual Growth Rate (%) 14.90 4 4.3 3.9 3.5 3
Unemployment Rate (%) 6.40 5.6 5.2 5 5 4.9
Inflation Rate (%) 2.86 2.7 2.2 1.8 1.7 1.6
Inflation Rate Mom (%) -0.25 0.2 0.2 0.2 -0.3 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 2390.10 2000 2000 1500 2200 1500
Current Account (EUR Million) 4197.00 -250 1900 -150 -200 -380
Current Account to GDP (% of GDP) -0.20 -0.4 -0.9 -0.9 -0.9 -0.9
Government Debt to GDP (% of GDP) 114.10 116 115 115 115 115
Government Budget (% of GDP) -9.40 -6.8 -4.2 -4.2 -4.2 -4.2
Business Confidence (points) 4.00 5.5 6.2 8 5.5 4.8
Consumer Confidence (points) 4.00 5 2 2 -1 -2
Retail Sales MoM (%) 1.60 0.4 0.3 -0.2 1 0.3
Corporate Tax Rate (%) 25.00 34 25 25 25 25
Personal Income Tax Rate (%) 50.00 53.7 50 50 50 50

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 1.70 1.1 0.8 0.7 0.7 0.6
GDP Annual Growth Rate (%) 14.90 4 4.3 3.9 3.5 3
GDP (USD Billion) 515.33 575 610 610 610 610
GDP Constant Prices (EUR Million) 109446.00 115166 110677 112232 113714 113997
Gross National Product (EUR Million) 118660.20 119342 122774 123763 123288 126457
Gross Fixed Capital Formation (EUR Million) 27800.00 27448 27711 28549 28884 28542
GDP per capita (USD) 44361.25 47400 47400 47400 47400 47800
GDP per capita PPP (USD) 48210.03 50500 52500 52500 52500 52500
GDP From Agriculture (EUR Million) 919.00 621 414 649 955 426
GDP From Construction (EUR Million) 5774.00 5570 6099 5433 5999 6282
GDP From Manufacturing (EUR Million) 16725.00 17034 16759 17130 17377 17261
GDP From Public Administration (EUR Million) 14477.00 15610 15266 14430 15042 15724
GDP From Services (EUR Million) 17261.00 20092 17518 17105 17934 18043

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 6.40 5.6 5.2 5 5 4.9
Labour Costs (points) 111.20 123 112 110 113 113
Minimum Wages (EUR/Month) 1625.72 1695 1695 1695 1695 1740
Wage Growth (%) 11.33 1.2 1.2 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) 116.40 129 104 118 118 130

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 2.86 2.7 2.2 1.8 1.7 1.6
Inflation Rate Mom (%) -0.25 0.2 0.2 0.2 -0.3 0.2
Consumer Price Index CPI (points) 112.55 117 112 113 113 114
Core Consumer Prices (points) 109.59 110 111 112 112 113
Core Inflation Rate (%) 1.60 1.8 2.4 2.4 2.6 2.5
Producer Prices (points) 134.00 138 138 140 140 142
Food Inflation (%) -0.98 1.2 2 2.3 1 0.9
Harmonised Consumer Prices (points) 112.35 112 112 113 114 113
Producer Prices Change (%) 20.00 19.5 12.3 8.9 4.5 2.5
CPI Transportation (points) 113.50 114 114 114 114 114

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.55 -0.55 -0.55 -0.55 -0.55 -0.55

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (EUR Million) 2390.10 2000 2000 1500 2200 1500
Current Account (EUR Million) 4197.00 -250 1900 -150 -200 -380
Current Account to GDP (% of GDP) -0.20 -0.4 -0.9 -0.9 -0.9 -0.9
Imports (EUR Million) 33489.40 32500 37500 35500 35800 33500
Exports (EUR Million) 35879.50 34500 39500 37000 38000 35000

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 114.10 116 115 115 115 115
Government Budget (% of GDP) -9.40 -6.8 -4.2 -4.2 -4.2 -4.2
Government Budget Value (EUR Million) -42318.10 3584 3584 3584 3584 3584
Government Spending (EUR Million) 27224.00 26374 27159 27433 28286 27973
Government Spending to GDP (% of GDP) 60.00 54.5 54.5 54.5 54.5 54.2

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 25.00 34 25 25 25 25
Personal Income Tax Rate (%) 50.00 53.7 50 50 50 50
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 38.07 40.57 40.57 40.57 40.57 40.57
Social Security Rate For Companies (%) 25.00 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 Q4 Q1 Q2 Q3 2022
Business Confidence (points) 4.00 5.5 6.2 8 5.5 4.8
Industrial Production (%) 29.90 3.5 3.3 1.9 1.9 2.9
Industrial Production Mom (%) 0.10 0.3 0.3 0.3 0.3 0.3

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 4.00 5 2 2 -1 -2
Retail Sales MoM (%) 1.60 0.4 0.3 -0.2 1 0.3
Retail Sales YoY (%) -4.90 2.8 3.1 2.3 2.3 1.9
Consumer Spending (EUR Million) 54276.00 57718 53924 54687 56393 55542
Disposable Personal Income (EUR Million) 93248.20 94871 96493 97258 96885 99388
Bank Lending Rate (%) 1.58 1.58 1.58 1.58 1.58 1.58
Gasoline Prices (USD/Liter) 1.93 1.83 1.74 1.65 1.57 1.49
Consumer Credit (EUR Thousand) 7230790.00 7719493 7705225 7606643 7483868 7951077

Housing Actual Q4 Q1 Q2 Q3 2022
Construction Output (%) -2.50 2.1 0.7 0.5 0.5 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.