Markets Actual Q1 Q2 Q3 Q4 2023
Currency 1.11 1.13 1.12 1.12 1.12 1.11
Stock Market (points) 4025.96 4063 3980 3898 3817 3662
Government Bond 10Y (%) 0.32 0.26 0.29 0.32 0.35 0.42

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 0.50 0.4 0.7 0.7 0.6 0.6
GDP Annual Growth Rate (%) 5.60 4.3 2.5 2 1.9 1.7
Unemployment Rate (%) 5.90 5.2 5 5 4.9 4.8
Inflation Rate (%) 7.59 5.2 4.8 3.7 2.6 1.7
Inflation Rate Mom (%) 2.23 0.2 0.2 -0.3 0.2 0.2
Interest Rate (%) 0.00 0 0 0.1 0.25 0.5
Balance of Trade (EUR Million) 1197.00 3000 1500 2200 1500 1600
Current Account (EUR Million) 5226.00 1900 -150 -200 -380 -300
Current Account to GDP (% of GDP) -0.20 -0.9 -0.9 -0.9 -0.9 -0.9
Government Debt to GDP (% of GDP) 114.10 115 115 115 115 115
Government Budget (% of GDP) -9.40 -4.2 -4.2 -4.2 -4.2 -3.5
Business Confidence (points) 2.70 6.2 8 5.5 4.8 3.4
Consumer Confidence (points) -2.00 2 4 2 1 2
Retail Sales MoM (%) 1.50 0.3 -0.2 1 0.3 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 Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 0.50 0.4 0.7 0.7 0.6 0.6
GDP Annual Growth Rate (%) 5.60 4.3 2.5 2 1.9 1.7
GDP (USD Billion) 515.33 610 610 610 610 630
GDP Constant Prices (EUR Million) 113110.00 111209 112232 113622 115372 113322
Gross National Product (EUR Million) 130314.00 123763 127450 132920 132790 135047
Gross Fixed Capital Formation (EUR Million) 28106.00 27844 28549 28495 28668 28373
GDP per capita (USD) 39959.53 47400 47400 47400 47800 47800
GDP per capita PPP (USD) 48210.03 52500 52500 52500 52500 53900
GDP From Agriculture (EUR Million) 702.00 416 649 942 716 424
GDP From Construction (EUR Million) 4918.00 6128 5433 5918 5016 6244
GDP From Manufacturing (EUR Million) 16658.00 16839 17130 17143 16991 17159
GDP From Public Administration (EUR Million) 13409.00 15340 14430 14839 13677 15631
GDP From Services (EUR Million) 17432.00 17602 17105 17693 17781 17936

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 5.90 5.2 5 5 4.9 4.8
Labour Costs (points) 109.00 112 110 113 110 113
Minimum Wages (EUR/Month) 1625.72 1695 1695 1695 1740 1790
Wage Growth (%) 11.33 1.2 1.2 1.2 1.2 1.2
Population (Million) 11.52 11.59 11.59 11.59 11.65 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) 116.40 103 104 118 118 130

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 7.59 5.2 4.8 3.7 2.6 1.7
Inflation Rate Mom (%) 2.23 0.2 0.2 -0.3 0.2 0.2
Consumer Price Index CPI (points) 115.74 116 117 117 119 121
Core Consumer Prices (points) 110.82 111 112 112 114 115
Core Inflation Rate (%) 2.20 2.4 2.4 2.6 2.5 1
Producer Prices (points) 150.70 146 140 142 154 157
Food Inflation (%) 1.18 2 2.3 1 0.9 1
Harmonised Consumer Prices (points) 115.87 116 116 117 119 121
Producer Prices Change (%) 31.40 19.3 8.9 4.5 2.5 1.5
CPI Transportation (points) 116.44 117 117 117 117 117

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 0.00 0 0 0.1 0.25 0.5
Interbank Rate (%) -0.58 -0.58 -0.58 -0.48 -0.33 -0.08

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (EUR Million) 1197.00 3000 1500 2200 1500 1600
Current Account (EUR Million) 5226.00 1900 -150 -200 -380 -300
Current Account to GDP (% of GDP) -0.20 -0.9 -0.9 -0.9 -0.9 -0.9
Imports (EUR Million) 40501.80 36500 35500 35800 33500 34400
Exports (EUR Million) 41698.80 39500 37000 38000 35000 36000

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 114.10 115 115 115 115 115
Government Budget (% of GDP) -9.40 -4.2 -4.2 -4.2 -4.2 -3.5
Government Budget Value (EUR Million) -42318.10 3584 3584 3584 3584 3584
Government Spending (EUR Million) 27134.00 27289 27433 27905 27677 27808
Government Spending to GDP (% of GDP) 60.00 54.5 54.5 54.5 54.2 54.2

Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2023
Business Confidence (points) 2.70 6.2 8 5.5 4.8 3.4
Industrial Production (%) 8.90 3.3 1.9 1.9 2.9 2.9
Industrial Production Mom (%) -4.40 0.3 0.3 0.3 0.3 0.3

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Confidence (points) -2.00 2 4 2 1 2
Retail Sales MoM (%) 1.50 0.3 -0.2 1 0.3 0.3
Retail Sales YoY (%) 12.60 3.1 2.3 2.3 1.9 1.9
Consumer Spending (EUR Million) 58155.00 54183 54687 55633 59318 55213
Disposable Personal Income (EUR Million) 104194.30 97258 100774 106278 106174 107979
Gasoline Prices (USD/Liter) 1.98 1.88 1.79 1.7 1.61 1.53
Consumer Credit (EUR Thousand) 7191322.00 7756606 7705225 7504147 7375406 7903981
Bank Lending Rate (%) 1.57 1.57 1.57 1.67 1.82 2.07

Housing Actual Q1 Q2 Q3 Q4 2023
Construction Output (%) -8.80 0.7 0.5 0.5 1.5 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, January 28, 2022.