Belgium’s GDP grew by 0.2 percent on quarter in the three months to December 2020, following an upwardly revised 11.6 percent advance in the previous period, preliminary estimates showed. Value added was up in industry (4.7 percent) and in construction (3.3 percent), while it dropped back by 0.6 percent in services. Year-on-year, the economy shrank 4.8 percent, more than a 4.3 percent drop in Q3. Considering the whole 2020, the economy contracted 6.2 percent, a decline more than three times as big as that seen during the great recession (-2 percent) in 2009 and after a 1.7 percent expansion in 2019. source: National Bank of Belgium
GDP Growth Rate in Belgium averaged 0.53 percent from 1980 until 2020, reaching an all time high of 15.80 percent in the first quarter of 1995 and a record low of -11.80 percent in the second quarter of 2020. This page provides - Belgium GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belgium GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
GDP Growth Rate in Belgium is expected to be 0.10 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 0.80 in 12 months time. In the long-term, the Belgium GDP Growth Rate is projected to trend around 0.60 percent in 2022 and 0.50 percent in 2023, according to our econometric models.