Markets Actual Q1 Q2 Q3 Q4 2022
Currency 1.21 1.2 1.2 1.2 1.19 1.18
Stock Market (points) 3831.93 3736 3653 3572 3493 3334
Government Bond 10Y (%) 0.00 0.01 0.01 0.02 0.02 0.04

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) -0.10 0.1 0.8 1.4 0.8 0.6
GDP Annual Growth Rate (%) -5.10 2.2 13.5 5 3.2 2.2
Unemployment Rate (%) 5.80 6.4 7 7 6.5 6.2
Inflation Rate (%) 0.46 0.8 1.2 1 0.8 2
Inflation Rate Mom (%) 0.22 0.2 0 0 0.4 0.4
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 1709.50 1090 100 2500 1090 1090
Current Account (EUR Million) -2586.00 -1100 -1900 -1900 -1500 -700
Current Account to GDP (%) -1.20 -0.5 -0.5 -0.5 -0.5 -1.2
Government Debt to GDP (%) 98.60 116 116 116 116 118
Government Budget (% of GDP) -1.90 -5.6 -5.6 -5.6 -5.6 -3.7
Business Confidence (points) -4.40 -6 -5 -4 -3 -7
Consumer Confidence (points) -9.00 -13 -8 -9 -10 -10
Retail Sales MoM (%) 15.90 1.9 0.7 -0.5 0.4 0.4
Corporate Tax Rate (%) 29.00 29 29 29 34 34
Personal Income Tax Rate (%) 50.00 53.7 50 50 53.7 53.7

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) -0.10 0.1 0.8 1.4 0.8 0.6
GDP Annual Growth Rate (%) -5.10 2.2 13.5 5 3.2 2.2
GDP (USD Billion) 529.61 512 512 512 512 530
GDP Constant Prices (EUR Million) 106220.00 109927 107439 111531 109619 112031
Gross National Product (EUR Million) 115133.20 112793 120362 120890 118817 121431
Gross Fixed Capital Formation (EUR Million) 23685.00 26716 24211 24869 24443 24981
GDP per capita (USD) 47540.90 47400 47400 47400 47400 47800
GDP per capita PPP (USD) 51707.80 51500 51500 51500 51500 52000
GDP From Agriculture (EUR Million) 805.00 340 526 845 831 849
GDP From Construction (EUR Million) 4925.00 5004 5297 5171 5083 5194
GDP From Manufacturing (EUR Million) 14840.00 15712 15241 15582 15315 15652
GDP From Public Administration (EUR Million) 13313.00 14207 16349 13979 13739 14041
GDP From Services (EUR Million) 16265.00 17466 15705 17078 16785 17155

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 5.80 6.4 7 7 6.5 6.2
Labour Costs (points) 110.80 120 107 109 123 123
Minimum Wages (EUR/Month) 1625.72 1626 1695 1695 1695 1740
Wage Growth (%) 0.40 1.4 1.4 1.4 1.2 1.2
Population (Million) 11.46 11.59 11.59 11.59 11.59 11.65
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 99.7 131 131 103 103

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 0.46 0.8 1.2 1 0.8 2
Inflation Rate Mom (%) 0.22 0.2 0 0 0.4 0.4
Consumer Price Index CPI (points) 110.21 110 111 111 110 113
Core Consumer Prices (points) 106.58 108 109 109 110 110
Core Inflation Rate (%) 1.40 1.7 1.7 1.7 1.8 1.8
Producer Prices (points) 118.00 111 111 113 118 120
Food Inflation (%) -0.21 1.4 1.4 1.4 1.7 1.7
Harmonised Consumer Prices (points) 108.78 109 110 109 110 112
Producer Prices Change (%) 0.30 -1.9 1 1 2.2 1.8
CPI Transportation (points) 108.98 107 107 108 109 111

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.33 -0.33 -0.33 -0.33 -0.33 -0.33

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (EUR Million) 1709.50 1090 100 2500 1090 1090
Current Account (EUR Million) -2586.00 -1100 -1900 -1900 -1500 -700
Current Account to GDP (%) -1.20 -0.5 -0.5 -0.5 -0.5 -1.2
Imports (EUR Million) 29516.30 32000 31000 31000 29500 30000
Exports (EUR Million) 31225.80 32100 33500 33500 31000 31150

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 98.60 116 116 116 116 118
Government Budget (% of GDP) -1.90 -5.6 -5.6 -5.6 -5.6 -3.7
Government Budget Value (EUR Million) -9279.00 2400 2400 2400 3584 3584
Government Spending (EUR Million) 25676.00 25378 25744 26960 26498 27081
Government Spending to GDP (%) 52.20 54.5 54.5 54.5 54.5 54.2

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 29.00 29 29 29 34 34
Personal Income Tax Rate (%) 50.00 53.7 50 50 53.7 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 32.5 32.5
Social Security Rate For Employees (%) 13.07 13.07 13.07 13.07 13.07 13.07

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (points) -4.40 -6 -5 -4 -3 -7
Industrial Production (%) -4.60 3.5 9.5 6.1 5.2 5.2
Industrial Production Mom (%) -1.90 0.4 0.4 0.4 0.3 0.3

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) -9.00 -13 -8 -9 -10 -10
Retail Sales MoM (%) 15.90 1.9 0.7 -0.5 0.4 0.4
Retail Sales YoY (%) 3.60 1.2 8.5 3.7 4.5 2.2
Consumer Spending (EUR Million) 55531.00 54858 53288 58308 57308 58569
Disposable Personal Income (EUR Million) 90240.50 87539 91499 94753 93128 95177
Bank Lending Rate (%) 1.55 1.55 1.55 1.55 1.55 1.55
Gasoline Prices (USD/Liter) 1.81 1.64 1.56 1.48 1.41 1.34
Consumer Credit (EUR Thousand) 7413126.00 7756676 8517113 7854677 7674108 7842938

Housing Actual Q1 Q2 Q3 Q4 2022
Construction Output (%) -13.00 18 7 7 0.5 3


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.