Belgium's current account deficit decreased to EUR 1,287 million in the third quarter of 2019 from EUR 1,464 million in the same period a year ago, as the goods shortfall fell significantly to EUR 342 million from EUR 1,711 million in Q3 2018 and the services gap also shrank to EUR 27 million from EUR 495 million. On the other hand, the primary income balance shifted to a deficit of EUR 589 million compared to a surplus of EUR 1,316 million and the secondary income deficit rose to EUR 2,028 million from EUR 1,769 million a year earlier.

Current Account in Belgium averaged 1425.84 EUR Million from 1995 until 2019, reaching an all time high of 7343 EUR Million in the second quarter of 2005 and a record low of -6687 EUR Million in the third quarter of 2008. This page provides - Belgium Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Current Account in Belgium is expected to be 0.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Belgium to stand at 0.00 in 12 months time. In the long-term, the Belgium Current Account is projected to trend around -460.00 EUR Million in 2020, according to our econometric models.

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Belgium Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-1287.00 -2735.00 7343.00 -6687.00 1995 - 2019 EUR Million Quarterly
Current Prices, NSA

Calendar GMT Actual Previous Consensus TEForecast
2019-03-29 03:00 PM Q4 €-3783M €-1620M € -380M
2019-06-28 02:00 PM Q1 €869M €-3783M € 115M
2019-10-01 01:15 PM Q2 €-1-923M €401M € -670M
2019-12-31 03:10 PM Q3 €-1287M €-2735M € -1300M
2020-03-31 02:00 PM Q4 €-1287M € -250M

News Stream
Belgium Current Account Deficit Widens Sharply in Q2
Belgium’s current account gap rose sharply to EUR 1,923 million in the second quarter of 2019 from EUR 789 million in the same period a year earlier. The services deficit widened to EUR 768 million from EUR 299 million in Q2 2018 and the secondary income shortfall increased to EUR 1,700 million from EUR 1,562 million. Also, the goods surplus narrowed to EUR 54 million from EUR 963 million in the corresponding period a year ago while the primary income surplus advanced to EUR 491 million from EUR 110 million.

Belgium Current Account Surplus Widens in Q1
Belgium’s current account surplus widened by 125.1 percent to EUR 869 million in the first quarter of 2019 from EUR 386 million in the corresponding period of the previous year, as the services account recorded a surplus of EUR 280 million compared to a EUR 625 million deficit a year earlier while the secondary income shortfall decreased to EUR 1,936 million from EUR 2,104 million. Meanwhile, the goods account surplus went down slightly to EUR 890 million from EUR 896 million while the primary income surplus narrowed to EUR 1,633 million from EUR 2,220 million.

Belgium Current Account Balance Switches to Deficit
Belgium recorded a current account gap of EUR 3,783 million in the fourth quarter of 2018, swinging from a EUR 149 million surplus in the corresponding month of the previous year. The goods account shortfall widened to EUR 589 million from EUR 23 million a year earlier and the services account recorded a EUR 2,005 million deficit swinging from a EUR 1,700 million surplus while the secondary income gap increased to EUR 1,870 million from EUR 1,698 million. On the other hand, the primary income surplus rose to EUR 682 million from EUR 171 million. Considering full 2018, Belgium posted a current account deficit of EUR 5,934 million, compared with a EUR 3,192 million surplus in 2017.

Belgium Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Belgium Trade Last Previous Highest Lowest Unit
Balance of Trade 1619.30 2259.90 3030.10 -1026.60 EUR Million [+]
Current Account -1287.00 -2735.00 7343.00 -6687.00 EUR Million [+]
Current Account to GDP -1.30 0.70 5.50 -4.00 percent [+]
Imports 29615.30 33230.80 34419.70 6975.70 EUR Million [+]
Exports 31234.60 35490.70 36453.00 7331.30 EUR Million [+]
Terms of Trade 94.65 97.75 108.20 91.59 points [+]
Capital Flows -3567.00 -2926.00 8066.00 -7418.00 EUR Million [+]
Remittances 2151.00 2191.00 2754.00 935.00 EUR Million [+]
Gold Reserves 227.40 227.40 258.09 227.40 Tonnes [+]
Weapons Sales 16.00 12.00 243.00 1.00 USD Million [+]
Terrorism Index 3.64 4.06 4.66 0.41 [+]
Tourist Arrivals 1561550.00 1896955.00 1896955.00 826792.00 [+]
Foreign Direct Investment -13226.00 -7563.00 43157.00 -15253.00 EUR Million [+]
External Debt 1179179.00 1137456.00 1264535.00 923263.00 EUR Million [+]