Markets Actual Q4 Q1 Q2 Q3 2021
Currency 1.20 1.19 1.19 1.18 1.18 1.17
Stock Market (points) 3719.36 3610 3529 3451 3374 3221
Government Bond 10Y (%) -0.40 0.04 0.08 0.13 0.19 0.29

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 10.70 -2.7 1.2 2 0.9 0.8
GDP Annual Growth Rate (%) -5.20 -3.7 2.2 13.5 5 3.2
Unemployment Rate (%) 5.20 7.2 7.5 7 7 6.5
Inflation Rate (%) 0.51 0.6 0.5 1.6 1.7 1.8
Inflation Rate Mom (%) -0.16 0.3 0.2 0 0 0.4
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 390.70 1500 100 2500 2500 1500
Current Account (EUR Million) 38.00 -1100 -1100 -1900 -1900 -1500
Current Account to GDP (%) -1.20 -0.3 -0.5 -0.5 -0.5 -0.5
Government Debt to GDP (%) 98.60 114 111 111 111 111
Government Budget (% of GDP) -1.90 -7.8 -5.6 -5.6 -5.6 -5.6
Business Confidence (points) -12.10 -9 -6 -5 -4 -3
Consumer Confidence (points) -15.00 -23 -13 -8 -9 -10
Retail Sales MoM (%) -7.40 11 1.9 0.7 -0.5 0.4
Corporate Tax Rate (%) 29.00 29 29 29 29 34
Personal Income Tax Rate (%) 50.00 53.7 50 50 50 53.7

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 10.70 -2.7 1.2 2 0.9 0.8
GDP Annual Growth Rate (%) -5.20 -3.7 2.2 13.5 5 3.2
GDP (USD Billion) 529.61 495 512 512 512 512
GDP Constant Prices (EUR Million) 94660.00 107444 109927 107439 99393 110882
Gross National Product (EUR Million) 106045.80 112779 112793 125264 115883 116388
Gross Fixed Capital Formation (EUR Million) 21331.00 26140 26716 24211 22398 26976
GDP per capita (USD) 47540.90 46000 47400 47400 47400 47400
GDP per capita PPP (USD) 51707.80 50600 51500 51500 51500 51500
GDP From Agriculture (EUR Million) 463.00 260 340 526 486 268
GDP From Construction (EUR Million) 4667.00 5591 5004 5297 4900 5770
GDP From Manufacturing (EUR Million) 13428.00 15363 15712 15241 14099 15854
GDP From Public Administration (EUR Million) 14404.00 14330 14207 16349 15124 14789
GDP From Services (EUR Million) 13837.00 18401 17466 15705 14529 18990

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 5.20 7.2 7.5 7 7 6.5
Labour Costs (points) 111.70 120 107 109 109 123
Minimum Wages (EUR/Month) 1625.72 1595 1595 1595 1595 1615
Wage Growth (%) 0.40 1.4 1.4 1.4 1.4 1.2
Population (Million) 11.46 11.53 11.59 11.59 11.59 11.59
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wages In Manufacturing (points) 102.90 99.7 131 131 131 103

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 0.51 0.6 0.5 1.6 1.7 1.8
Inflation Rate Mom (%) -0.16 0.3 0.2 0 0 0.4
Consumer Price Index CPI (points) 109.46 110 110 111 111 112
Core Consumer Prices (points) 108.03 108 109 109 110 110
Core Inflation Rate (%) 1.20 1.7 1.7 1.7 1.7 1.8
Producer Prices (points) 111.90 119 114 110 115 121
Food Inflation (%) 3.51 1.4 1.4 1.4 1.4 1.7
Harmonised Consumer Prices (points) 108.47 109 109 110 110 111
Producer Prices Change (%) -3.60 0.5 0.5 0.5 2.5 2.2
CPI Transportation (points) 107.03 109 107 108 109 111

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.33 -0.06 -0.33 -0.33 -0.33 0.44

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (EUR Million) 390.70 1500 100 2500 2500 1500
Current Account (EUR Million) 38.00 -1100 -1100 -1900 -1900 -1500
Current Account to GDP (%) -1.20 -0.3 -0.5 -0.5 -0.5 -0.5
Imports (EUR Million) 30405.60 29000 32000 31000 31000 29500
Exports (EUR Million) 30796.30 30500 32100 33500 33500 31000

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 98.60 114 111 111 111 111
Government Budget (% of GDP) -1.90 -7.8 -5.6 -5.6 -5.6 -5.6
Government Budget Value (EUR Million) -3402.00 2400 2400 2400 2400 3584
Government Spending (EUR Million) 22682.00 24686 25378 25744 23816 25475
Government Spending to GDP (%) 52.20 59.3 54.5 54.5 54.5 54.5

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 29.00 29 29 29 29 34
Personal Income Tax Rate (%) 50.00 53.7 50 50 50 53.7
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 40.57 40.57 40.57 40.57 40.57 40.57
Social Security Rate For Companies (%) 27.50 32.5 27.5 27.5 27.5 32.5
Social Security Rate For Employees (%) 13.07 13.07 13.07 13.07 13.07 13.07

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) -12.10 -9 -6 -5 -4 -3
Industrial Production (%) -4.60 -3.9 3.5 9.5 6.1 5.2
Industrial Production Mom (%) 0.50 0.4 0.4 0.4 0.4 0.3

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) -15.00 -23 -13 -8 -9 -10
Retail Sales MoM (%) -7.40 11 1.9 0.7 -0.5 0.4
Retail Sales YoY (%) 4.50 -3.3 1.2 8.5 3.7 4.5
Consumer Spending (EUR Million) 46950.00 55298 54858 53288 49298 57068
Disposable Personal Income (EUR Million) 80616.20 89682 87539 97218 89937 92552
Bank Lending Rate (%) 1.59 1.84 1.58 1.58 1.58 2.34
Gasoline Prices (USD/Liter) 1.68 1.45 1.43 1.35 1.29 1.38
Consumer Credit (EUR Thousand) 7464628.00 7308586 7756676 8517113 7854677 7542461

Housing Actual Q4 Q1 Q2 Q3 2021
Construction Output (%) -2.80 -1 18 7 7 0.5


This page has economic forecasts for Belgium including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Belgium economy.