Belgium's gross domestic product shrank 5.1 percent year-on-year in the fourth quarter of 2020, more than preliminary estimates of a 4.8 percent drop and following a 4.3 percent contraction in Q3. Considering the whole 2020, the economy contracted 6.3 percent, the steepest since the end of the Second World War and more than three times bigger than that seen during the great recession (-2.0 percent) of 2009. source: National Bank of Belgium
GDP Annual Growth Rate in Belgium averaged 2.08 percent from 1981 until 2020, reaching an all time high of 19.40 percent in the first quarter of 1995 and a record low of -13.90 percent in the second quarter of 2020. This page provides - Belgium GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belgium GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
GDP Annual Growth Rate in Belgium is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Belgium to stand at 3.20 in 12 months time. In the long-term, the Belgium GDP Annual Growth Rate is projected to trend around 2.20 percent in 2022, according to our econometric models.