The economy of Belgium expanded 0.3 percent quarter-over-quarter in the three months to March of 2022, just missing market expectations of 0.4% and slowing from to a downwardly revised 0.4 percent advance in the last quarter of 2021, preliminary estimates showed. Value added rose in the construction (0.8 percent) and services (0.5 percent) sectors, while industrial output contracted (-0.8 percent). source: National Bank of Belgium

GDP Growth Rate in Belgium averaged 0.55 percent from 1980 until 2022, reaching an all time high of 15.80 percent in the first quarter of 1995 and a record low of -11.60 percent in the second quarter of 2020. This page provides - Belgium GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belgium GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.

GDP Growth Rate in Belgium is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Belgium GDP Growth Rate is projected to trend around 0.60 percent in 2023 and 0.50 percent in 2024, according to our econometric models.

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Belgium GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-02-25 10:00 AM QoQ Final Q4 0.5% 2% 0.5% 0.5%
2022-04-28 09:00 AM QoQ Adv Q1 0.3% 0.4% 0.4% 0.6%
2022-05-31 09:00 AM QoQ Final Q1 0.4% 0.3%


Related Last Previous Unit Reference
GDP Growth Rate 0.30 0.40 percent Mar 2022
GDP Annual Growth Rate 4.60 5.70 percent Mar 2022
GDP Constant Prices 113693.00 113110.00 EUR Million Dec 2021
Gross National Product 133378.70 130314.00 EUR Million Dec 2021
Gross Fixed Capital Formation 27361.00 28106.00 EUR Million Dec 2021
Full Year GDP Growth 6.10 -5.70 percent Dec 2021
GDP From Services 18337.00 17432.00 EUR Million Dec 2021
GDP From Public Administration 14672.00 13409.00 EUR Million Dec 2021
GDP From Manufacturing 17682.00 16658.00 EUR Million Dec 2021
GDP From Construction 5668.00 4918.00 EUR Million Dec 2021
GDP From Agriculture 363.00 702.00 EUR Million Dec 2021

Belgium GDP Growth Rate
In Belgium, household consumption is the main component of GDP and accounts for 52 percent of its total use, followed by government expenditure (25 percent) and gross fixed capital formation (23 percent). Exports of goods and services account for 84 percent of GDP while imports account for 83 percent, adding 1 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.40 15.80 -11.60 1980 - 2022 percent Quarterly
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News Stream
Belgium Q1 GDP Growth Slightly Below Forecasts
The economy of Belgium expanded 0.3 percent quarter-over-quarter in the three months to March of 2022, just missing market expectations of 0.4% and slowing from to a downwardly revised 0.4 percent advance in the last quarter of 2021, preliminary estimates showed. Value added rose in the construction (0.8 percent) and services (0.5 percent) sectors, while industrial output contracted (-0.8 percent).
2022-04-28
Belgium GDP Growth Confirmed at 0.5% in Q4
Belgium’s gross domestic product grew 0.5 percent in the three months leading to December of 2021, in line with preliminary estimates and compared to a 2 percent expansion in the third quarter. Value added was seen climbing in industry (3 percent vs -0.4 percent in Q3) and services (0.3 percent vs 2.5 percent), while it fell for construction (-0.2 percent vs -0.9 percent). Year-on-year, the Belgian economy grew 5.6 percent during the fourth quarter, also in line with earlier estimates and picking up from the 4.9 percent expansion in the previous period. Considering the full 2021, Belgium’s output grew by 6.1 percent, fully recovering from the 5.7 contraction seen in 2020 due economic consequences brought by the pandemic.
2022-02-25
Belgium GDP Grows 0.5% QoQ in Q4
Belgium’s gross domestic product expanded 0.5 percent in the three months leading to December 2021, following a 2 percent increase in the previous period and above forecasts of 0.4 percent growth, preliminary estimates showed. Value added to the economy increased for Industry (3.3 percent) and services (0.6 percent), while it fell back for construction (-0.6%). Considering the whole 2021, the economy expanded by 6.1 percent, rebounding from the 5.7 contraction in 2020 brought by the pandemic.
2022-01-28