Belgium’s gross domestic product grew by 0.2 percent on quarter in the three months to June of 2022, slightly above market expectations of 0.1 percent and following a 0.5 percent expansion in Q1, preliminary data showed. It was the lowest growth since a contraction at the end of 2020, with a slowdown widespread across the major branches of activity. Value added was down by 0.2 percent in industry while in construction and the services sector, growth of economic activity remained positive, although has slowed to 0.3 percent. Year-on-year, the economy expanded by 3.3 percent, the least since the first quarter of 2021 and easing from a 4.9 percent advance in Q1. 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 August of 2022.

GDP Growth Rate in Belgium is expected to be -0.10 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
2022-05-31 09:00 AM QoQ Final Q1 0.5% 0.4% 0.3%
2022-07-28 09:00 AM QoQ Adv Q2 0.2% 0.5% 0.1% -0.2%
2022-08-31 09:00 AM QoQ Final Q2 0.5% 0.2%


Related Last Previous Unit Reference
GDP Growth Rate 0.20 0.50 percent Jun 2022
GDP Annual Growth Rate 3.30 4.90 percent Jun 2022
GDP Constant Prices 114330.00 113713.00 EUR Million Mar 2022
Gross National Product 139386.20 133378.70 EUR Million Mar 2022
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
0.20 0.50 15.80 -11.60 1980 - 2022 percent Quarterly
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News Stream
Belgium Q2 GDP Growth Beats Expectations
Belgium’s gross domestic product grew by 0.2 percent on quarter in the three months to June of 2022, slightly above market expectations of 0.1 percent and following a 0.5 percent expansion in Q1, preliminary data showed. It was the lowest growth since a contraction at the end of 2020, with a slowdown widespread across the major branches of activity. Value added was down by 0.2 percent in industry while in construction and the services sector, growth of economic activity remained positive, although has slowed to 0.3 percent. Year-on-year, the economy expanded by 3.3 percent, the least since the first quarter of 2021 and easing from a 4.9 percent advance in Q1.
2022-07-28
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