Markets Actual Q3 Q4 Q1 Q2 2023
Currency 1.04 1.03 1.02 1.01 1.01 0.99
Stock Market (points) 3708.26 3479 3380 3284 3284 3100
Government Bond 10Y (%) 1.90 2.5 2.75 3.02 3.02 3.65

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 0.50 -0.1 0.3 0.5 0.7 0.6
GDP Annual Growth Rate (%) 4.90 0.5 0.4 0.5 1.8 3
Unemployment Rate (%) 5.70 5.6 5.7 5.8 5.8 6.3
Inflation Rate (%) 9.65 8 5.2 2.5 2 1.5
Inflation Rate Mom (%) 0.85 -0.3 0.2 0.3 0.3 0.2
Interest Rate (%) 0.00 0.75 1.25 1.5 1.75 1.75
Balance of Trade (EUR Million) -2796.90 1500 2200 1500 950 1600
Current Account (EUR Million) -762.00 -200 -380 -440 -440 -350
Current Account to GDP (% of GDP) -0.20 -0.9 -0.9 -1 -1 -0.1
Government Debt to GDP (% of GDP) 108.20 107 107 108 108 108
Government Budget (% of GDP) -5.50 -4.9 -4.9 -4.3 -4.3 -4.3
Business Confidence (points) -1.80 5.5 4.8 4.4 4.4 3.4
Consumer Confidence (points) -11.00 2 1 2 2 2
Retail Sales MoM (%) -0.30 1 0.3 0.4 0.4 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 Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 0.50 -0.1 0.3 0.5 0.7 0.6
GDP Annual Growth Rate (%) 4.90 0.5 0.4 0.5 1.8 3
GDP (USD Billion) 515.33 610 610 610 610 630
GDP Constant Prices (EUR Million) 114330.00 113622 113676 114168 114902 117593
Gross National Product (EUR Million) 133378.70 127450 130966 133912 134046 137930
Gross Fixed Capital Formation (EUR Million) 27250.00 28495 28247 27470 27386 28295
GDP per capita (USD) 39959.53 47400 47800 47800 47800 47800
GDP per capita PPP (USD) 48210.03 52500 52500 52500 52500 53900
GDP From Agriculture (EUR Million) 532.00 942 706 364 535 375
GDP From Construction (EUR Million) 5076.00 5918 4943 5691 5101 5861
GDP From Manufacturing (EUR Million) 17481.00 17143 16741 17753 17568 18285
GDP From Public Administration (EUR Million) 13852.00 14839 13476 14731 13921 15173
GDP From Services (EUR Million) 17951.00 17693 17519 18410 18041 18963

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 5.70 5.6 5.7 5.8 5.8 6.3
Labour Costs (points) 113.40 113 110 113 115 114
Minimum Wages (EUR/Month) 1658.23 1695 1740 1740 1740 1790
Wage Growth (%) 3.70 1.2 1.2 1.2 1.2 1.2
Population (Million) 11.52 11.59 11.65 11.65 11.65 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) 131.40 118 98.87 133 133 135

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 9.65 8 5.2 2.5 2 1.5
Inflation Rate Mom (%) 0.85 -0.3 0.2 0.3 0.3 0.2
Consumer Price Index CPI (points) 122.04 122 122 122 123 124
Core Consumer Prices (points) 112.62 112 112 114 115 115
Core Inflation Rate (%) 3.40 2.6 2.5 2.5 2.5 1
Producer Prices (points) 176.40 140 142 155 175 158
Food Inflation (%) 8.60 1 0.9 0.8 0.8 1
Harmonised Consumer Prices (points) 121.55 122 121 122 123 124
Producer Prices Change (%) 40.50 4.5 2.5 2.5 2.5 1.5
CPI Transportation (points) 127.19 128 128 128 129 129

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 0.00 0.75 1.25 1.5 1.75 1.75
Interbank Rate (%) -0.39 -0.39 0.36 0.86 1.11 1.11

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (EUR Million) -2796.90 1500 2200 1500 950 1600
Current Account (EUR Million) -762.00 -200 -380 -440 -440 -350
Current Account to GDP (% of GDP) -0.20 -0.9 -0.9 -1 -1 -0.1
Imports (EUR Million) 48165.10 35800 33500 34550 34600 34400
Exports (EUR Million) 45368.20 38000 35000 35500 35750 36000

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 108.20 107 107 108 108 108
Government Budget (% of GDP) -5.50 -4.9 -4.9 -4.3 -4.3 -4.3
Government Budget Value (EUR Million) -42318.10 3584 3584 3584 3584 3584
Government Spending (EUR Million) 26889.00 27905 27270 27218 27023 28035
Government Spending to GDP (% of GDP) 60.00 54.5 54.2 54.2 54.2 54.2

Taxes Actual Q3 Q4 Q1 Q2 2023
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 Q3 Q4 Q1 Q2 2023
Business Confidence (points) -1.80 5.5 4.8 4.4 4.4 3.4
Industrial Production (%) -0.20 3.9 2.9 2.5 2.5 2.9
Industrial Production Mom (%) -0.60 -0.3 0.5 0.2 0.2 0.3

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Confidence (points) -11.00 2 1 2 2 2
Retail Sales MoM (%) -0.30 1 0.3 0.4 0.4 0.3
Retail Sales YoY (%) -1.90 2.3 1.9 1.9 1.9 1.9
Consumer Spending (EUR Million) 58097.00 55633 58446 57885 58387 59621
Disposable Personal Income (EUR Million) 107679.50 100774 104715 108110 108218 111354
Gasoline Prices (USD/Liter) 2.26 2.37 2.46 2.55 2.64 2.64
Consumer Credit (EUR Thousand) 7081282.00 7504147 7266944 7199906 7176471 7415903
Bank Lending Rate (%) 1.49 1.49 2.24 2.74 2.99 2.99

Housing Actual Q3 Q4 Q1 Q2 2023
Construction Output (%) 3.10 0.5 1.5 0.6 0.6 1.2


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Belgium Forecast - was last updated on Friday, July 1, 2022.