Belgium's gross domestic product grew by 0.2 percent on quarter in the three months to June of 2019, unrevised from the preliminary estimate and below the previous period's 0.3 percent expansion. Government spending slowdown (0.2 percent vs 0.9 percent in Q1) while household consumption increased 0.3 percent, the same as in the previous quarter. Meanwhile, gross fixed capital formation rebounded (0.5 percent vs -0.2 percent). Regarding, net foreign trade, exports rose 0.3 percent (from 0.8 percent in Q1) while imports increased at a softer 0.1 percent (from 0.4 percent in Q1). Year-on-year, the GDP rose by 1.2 percent, after a 1.3 percent increase in the first quarter of the year. GDP Growth Rate in Belgium averaged 0.53 percent from 1980 until 2019, reaching an all time high of 15.80 percent in the first quarter of 1995 and a record low of -2.10 percent in the fourth quarter of 2008.
GDP Growth Rate in Belgium is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Belgium to stand at 0.30 in 12 months time. In the long-term, the Belgium GDP Growth Rate is projected to trend around 0.30 percent in 2020, according to our econometric models.