Belgium’s gross domestic product grew by 0.5% in the three months to March of 2022, slightly above a preliminary estimate of 0.3% and following a 0.4% expansion in Q4. Value added was seen rising in services (0.8%) and construction (0.7%), but it decreased in industry (-0.7%). On the expenditure side, both private consumption (0.5%) and fixed investment (1%) increased, while government spending declined (-2.5%). At the same time, net foreign demand had a positive impact on the economy, as imports fell 1.1%, while exports went down a slower 0.9%. Year-on-year, the economy rose 4.9%, also above preliminary estimates of 4.6%, but slowing from a 5.7% growth in Q4. 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 July 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
2022-04-28 09:00 AM QoQ Adv Q1 0.3% 0.4% 0.4% 0.6%
2022-05-31 09:00 AM QoQ Final Q1 0.5% 0.4% 0.3%
2022-07-28 09:00 AM QoQ Adv Q2 0.5% -0.2%


Related Last Previous Unit Reference
GDP Growth Rate 0.50 0.40 percent Mar 2022
GDP Annual Growth Rate 4.90 5.70 percent Mar 2022
GDP Constant Prices 114330.00 113713.00 EUR Million Mar 2022
Gross National Product 133378.70 130314.00 EUR Million Dec 2021
Gross Fixed Capital Formation 27250.00 27361.00 EUR Million Mar 2022
Full Year GDP Growth 6.10 -5.70 percent Dec 2021
GDP From Services 17951.00 18337.00 EUR Million Mar 2022
GDP From Public Administration 13852.00 14672.00 EUR Million Mar 2022
GDP From Manufacturing 17481.00 17682.00 EUR Million Mar 2022
GDP From Construction 5076.00 5668.00 EUR Million Mar 2022
GDP From Agriculture 532.00 363.00 EUR Million Mar 2022

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
0.50 0.40 15.80 -11.60 1980 - 2022 percent Quarterly
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News Stream
Belgium Q4 GDP Growth Revised Higher
Belgium’s gross domestic product grew by 0.5% in the three months to March of 2022, slightly above a preliminary estimate of 0.3% and following a 0.4% expansion in Q4. Value added was seen rising in services (0.8%) and construction (0.7%), but it decreased in industry (-0.7%). On the expenditure side, both private consumption (0.5%) and fixed investment (1%) increased, while government spending declined (-2.5%). At the same time, net foreign demand had a positive impact on the economy, as imports fell 1.1%, while exports went down a slower 0.9%. Year-on-year, the economy rose 4.9%, also above preliminary estimates of 4.6%, but slowing from a 5.7% growth in Q4.
2022-05-31
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