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.