All rights reserved.Terms & Conditions. The government deficit for 2020 is estimated at 10.6% of GDP and although it will diminish thereafter, it will still amount to around 6% of GDP. Belgium Q3 GDP Rebounds More than Initially Thought, Belgium Inflation Rate Drops to 6-Month Low in November, Belgium Business Morale Drops Back to 4-Month Low, Belgium Consumer Confidence Improves in November, Belgium Current Account Balance Swings to Surplus in Q2, Belgium Producer Price Deflation Eases in August, Belgium Construction Output Falls the Most since 1993, Belgium Industrial Output Rises the Most Since 2010, Belgium Posts Smallest Trade Surplus in 5 Months, Oil Rallies after OPEC Announce Production Cut, Uruguay Inflation Rate Eases to 8-Month Low, Armenia Inflation Rate Rises to 1.6% in November, South Africa Stocks End at Over 10-Month High. With 44.6% of the land used for agriculture, in 2019 the agricultural industry's turnover increased by 6.2% (Statbel data). Today, Belgium is a member of the five institutions that form the World Bank Group. Read more. Belgium gdp growth rate for 2019 was 1.40%, a 0.08% decline from 2018. India, Japan, and Indonesia are third, fourth and fifth largest contributer, respectively. As a result, the Belgian economy is losing momentum for the second year in a row due to the slowdown internationally, added the Bureau. GDP per capita in Belgium averaged 31659.31 USD from 1960 until 2019, reaching an all time high of 47540.90 USD in 2019 and a record low of … Data source is International Monetary Fund World Economic Outlook (October-2018). In real terms, the EU’s GDP in 2019 was 17% higher than its level one decade earlier. Underlying price inflation will pick up … Belgium GDP (Gross Domestic Product) was INT$482.95billion for 2019 … ... 2019: 247,877 2018: 240,154 Series Information. Projections for Belgium: summary of the main results As regards the near-term growth prospects for Belgium, the National Accounts Institute (NAI) forecasts a deceleration in GDP growth to 1.1 % in 2019, after 1.5 % registered in 2018. Belgium’s economic freedom score is 68.9, making its economy the 48th freest in the 2020 Index. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Belgium was among the 28 governments that founded the International Bank for Reconstruction and Development — the World Bank — on Dec. 31, 1945. Belgian per capita GDP ranks among the world's highest. Publications related to Belgium. Agriculture contributes a small amount of the national GDP (0.4%, World Bank 2019) to the Belgian economy, mainly sugar beets, vegetables and fruits, meat and milk, and employs 1% of the active population. We have identified three themes for 2019: Global growth will slow. Economic growth has been steady, but remains below average euro area levels, and productivity growth has stagnated. 1960-2019 Data | 2020-2022 Forecast | Historical | Chart | News. Belgium: Economy recovers in Q3, but is likely to face headwinds in Q4. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. The GDP of Belgium, Luxembourg, and the Netherlands combined (Benelux) amounted to 1.3 trillion euros in 2019. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of … Gross Domestic Product. Its overall score has increased by 1.6 points, led by an increase in the government integrity score. Missing data, out of date base years, disputed population data and the size of the unrecorded informal economy means that international rankings of countries in terms of GDP and GDP per capita are meaningless. GDP (Nominal), GDP (PPP), GDP (Nominal) per capita, GDP (PPP) per capita, GDP Growth and rank in 2019. In 2019, GDP per capita for Belgium was 46,237 US dollars. GDP per capita is gross domestic product divided by midyear population. Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. 134 economic data series with tags: Belgium, GDP. The gross domestic product (GDP) measures of national income and output for a given country's economy. The Belgian economy is set to grow by an average 1.2% in the coming years and households’ purchasing power picks up 07 June 2019 12:00 Brussels, 7 June 2019 – Economic activity in Belgium is expected to grow by about 1.2 % annually over the next three years. {"2005":40765975.22, "2006":41852935.29, "2007":43059658.17, "2008":43483873.88, "2009":42276603.86, "2010":43299986.28, "2011":44072523.34, "2012":44139072.85, "2013":44227351.00, "2014":44742996.74, "2015":45511234.00, "2016":46188896.27, "2017":46970874.29, "2018":47644436.62, "2019":48294783.18}, [{"1871":24.16, "1872":25.63, "1873":25.80, "1874":26.65, "1875":26.60, "1876":26.94, "1877":27.28, "1878":28.07, "1879":28.35, "1880":29.77, "1881":30.17, "1882":31.19, "1883":31.64, "1884":31.93, "1885":32.32, "1886":32.72, "1887":33.97, "1888":34.19, "1889":35.84, "1890":36.63, "1891":36.69, "1892":37.60, "1893":38.16, "1894":38.73, "1895":39.64, "1896":40.43, "1897":41.17, "1898":41.85, "1899":42.70, "1900":43.95, "1901":44.35, "1902":45.25, "1903":46.27, "1904":47.46, "1905":48.83, "1906":49.85, "1907":50.58, "1908":51.09, "1909":52.06, "1910":53.42, "1911":54.67, "1912":55.97, "1913":56.71, "1914":53.12, "1915":52.48, "1916":55.52, "1917":47.68, "1918":38.42, "1919":45.33, "1920":52.45, "1921":53.36, "1922":58.58, "1923":60.68, "1924":62.66, "1925":63.63, "1926":65.78, "1927":68.22, "1928":71.79, "1929":71.17, "1930":70.49, "1931":69.24, "1932":66.12, "1933":67.54, "1934":66.97, "1935":71.11, "1936":71.62, "1937":72.59, "1938":70.94, "1939":75.76, "1940":66.74, "1941":63.23, "1942":57.78, "1943":56.45, "1944":59.77, "1945":63.34, "1946":67.08, "1947":71.11, "1948":75.36, "1949":78.43, "1950":82.73, "1951":87.43, "1952":86.75, "1953":89.53, "1954":93.22, "1955":97.64, "1956":100.48, "1957":102.35, "1958":102.23, "1959":105.47, "1960":109.77, "1961":115.33, "1962":121.45, "1963":126.73, "1964":135.62, "1965":140.35, "1966":144.51, "1967":150.07, "1968":157.02, "1969":166.75, "1970":177.86, "1971":184.54, "1972":194.24, "1973":206.13, "1974":214.79, "1975":211.94, "1976":223.92, "1977":225.32, "1978":231.72, "1979":237.15, "1980":247.77, "1981":247.08, "1982":248.55, "1983":249.32, "1984":255.47, "1985":259.69, "1986":264.42, "1987":270.52, "1988":283.30, "1989":293.13, "1990":302.33, "1991":307.87, "1992":312.58, "1993":309.57, "1994":319.56, "1995":327.18, "1996":331.84, "1997":344.24, "1998":350.88, "1999":363.30, "2000":376.63, "2001":379.67, "2002":384.84, "2003":387.94, "2004":400.64, "2005":407.66, "2006":418.53, "2007":430.60, "2008":434.84, "2009":422.77, "2010":433.00, "2011":440.73, "2012":441.39, "2013":442.27, "2014":447.43, "2015":455.11, "2016":461.89, "2017":469.71, "2018":476.44, "2019":482.95}], {"1971":3.8, "1972":5.3, "1973":6.1, "1974":4.2, "1975":-1.3, "1976":5.7, "1977":0.6, "1978":2.8, "1979":2.3, "1980":4.5, "1981":-0.3, "1982":0.6, "1983":0.3, "1984":2.5, "1985":1.7, "1986":1.8, "1987":2.3, "1988":4.7, "1989":3.5, "1990":3.1, "1991":1.8, "1992":1.5, "1993":-1.0, "1994":3.2, "1995":2.4, "1996":1.4, "1997":3.7, "1998":1.9, "1999":3.5, "2000":3.7, "2001":0.8, "2002":1.4, "2003":0.8, "2004":3.3, "2005":1.8, "2006":2.7, "2007":2.9, "2008":1.0, "2009":-2.8, "2010":2.4, "2011":1.8, "2012":0.2, "2013":0.2, "2014":1.2, "2015":1.7, "2016":1.5, "2017":1.7, "2018":1.4, "2019":1.4}. , a lower rank ( closer to 100 % ) indicates a stronger economy also support growth real. 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