Belgium's gross domestic product expanded 2 percent on quarter in the three months to September of 2021, compared to earlier estimates of a 1.8 percent advance and following a 1.7 percent growth in Q2. Both private consumption (6.3 percent vs 3.5 percent in Q2) and government expenditure (3.8 percent vs 1 percent) climbed faster while total gross fixed capital formation declined (-0.2 percent vs 1.3 percent), mainly in business (-2.4 percent vs 1.5 percent). Meanwhile, net foreign demand contributed negatively to GDP growth as exports fell more than imports. Year-on-year, the economy rose 4.9 percent, also above preliminary estimates of 4.7 percent. For the first time since the outbreak of the COVID-19 pandemic, the pre-crisis level of economic activity was reached and even slightly exceeded. source: National Bank of Belgium

GDP Growth Rate in Belgium averaged 0.55 percent from 1980 until 2021, 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 December of 2021.

GDP Growth Rate in Belgium is expected to be 0.10 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 2022 and 0.50 percent in 2023, according to our econometric models.

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Belgium GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-28 09:00 AM QoQ Adv Q3 1.8% 1.7% 1.8% 1.4%
2021-11-30 10:00 AM QoQ Final Q3 2% 1.7% 1.8%
2022-01-28 10:00 AM QoQ Adv Q4 2% 0.1%


Related Last Previous Unit Reference
GDP Growth Rate 2.00 1.70 percent Sep/21
GDP Annual Growth Rate 4.90 15.10 percent Sep/21
GDP Constant Prices 113110.00 110851.00 EUR Million Sep/21
Gross National Product 124341.40 118660.20 EUR Million Jun/21
Gross Fixed Capital Formation 28106.00 27800.00 EUR Million Sep/21
GDP From Services 17432.00 17261.00 EUR Million Sep/21
GDP From Public Administration 13409.00 14477.00 EUR Million Sep/21
GDP From Manufacturing 16658.00 16725.00 EUR Million Sep/21
GDP From Construction 4918.00 5774.00 EUR Million Sep/21
GDP From Agriculture 702.00 919.00 EUR Million Sep/21

News Stream
Belgium Q3 GDP Rises More than Initially Thought
Belgium's gross domestic product expanded 2 percent on quarter in the three months to September of 2021, compared to earlier estimates of a 1.8 percent advance and following a 1.7 percent growth in Q2. Both private consumption (6.3 percent vs 3.5 percent in Q2) and government expenditure (3.8 percent vs 1 percent) climbed faster while total gross fixed capital formation declined (-0.2 percent vs 1.3 percent), mainly in business (-2.4 percent vs 1.5 percent). Meanwhile, net foreign demand contributed negatively to GDP growth as exports fell more than imports. Year-on-year, the economy rose 4.9 percent, also above preliminary estimates of 4.7 percent. For the first time since the outbreak of the COVID-19 pandemic, the pre-crisis level of economic activity was reached and even slightly exceeded.
2021-11-30
Belgium GDP Grows 1.8% QoQ in Q3
Belgium's economy advanced by 1.8 percent on quarter in the three months to September of 2021, slightly faster than a 1.7 percent expansion in the previous period and matching market forecasts, according to preliminary estimates. Year-on-year, the economy expanded by 4.7 percent in the third quarter of the year, slowing from an upwardly revised 15.1 percent rise in the previous quarter, which was the steepest pace of growth since the last quarter of 1995. For the first time since the outbreak of the COVID-19-crisis, the pre-crisis level of economic activity was reached and even exceeded.
2021-10-28
Belgium GDP Growth Beats Early Estimates in Q2
Belgium's gross domestic product rose 1.7 percent on quarter in the three months to June of 2021, gaining momentum from a 1.1 percent expansion in the previous period and faster than early estimates pointing to a 1.4 percent advance. Economic growth was mainly driven by consumer spending (3.5 percent vs 1.1 percent in Q1) and government spending (3.5 percent vs 0.7 percent). Meanwhile, gross fixed capital formation eased (1.6 percent vs 2.7 percent), mostly slowed by household investment (0.8 percent vs 3.1 percent). In contrast, net foreign demand decreased (-0.3 percent vs 0.7 percent), as exports rose 2.7 percent (vs -0.2 percent in Q1) but imports went up a faster 3.1 percent (vs -1.1 percent in Q1). Year-on-year, the Belgian GDP surged an upwardly revised 14.9 percent in the second quarter of the year, the steepest increase since the last quarter of 1995 and rebounded from a 0.5 percent decline.
2021-08-30

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.