Belgium’s gross domestic product advanced 1.2 percent year-on-year in the last quarter of 2018, below a 1.6 percent growth in the previous period, preliminary estimates showed. It was the weakest pace of expansion since the fourth quarter of 2013, mainly due to a fall in government spending (-0.2 percent from 0.1 percent in Q3). In addition, private consumption dropped further (-0.3 percent from -0.2 percent) while total gross fixed capital formation rebounded (2.3 percent from -0.1 percent). Meanwhile, net foreign demand contributed negatively to growth, as exports went up 0.8 percent (from 1.4 percent in Q3) while imports increased at a faster 1.1 percent (the same as in Q3). Considering 2018, the economy grew by 1.4 percent, following a 1.7 percent expansion in 2017. GDP Growth Rate in Belgium averaged 0.54 percent from 1980 until 2018, 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 0.40 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 0.40 percent in 2020, according to our econometric models.

Belgium GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-29 02:00 PM GDP Growth Rate QoQ Adv 0.4% 0.3% 0.4% 0.50%
2018-11-30 02:00 PM GDP Growth Rate QoQ Final 0.3% 0.3% 0.4% 0.4%
2019-01-30 02:00 PM GDP Growth Rate QoQ Adv 0.3% 0.3% 0.3% 0.5%
2019-02-28 02:00 PM GDP Growth Rate QoQ Final 0.3% 0.3% 0.3% 0.3%
2019-04-29 01:00 PM GDP Growth Rate QoQ Adv 0.3% 0.4%
2019-05-29 01:00 PM GDP Growth Rate QoQ Final 0.3%
2019-07-30 01:00 PM GDP Growth Rate QoQ Adv 0.4%


Belgium GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.30 15.80 -2.10 percent [+]
GDP Annual Growth Rate 1.20 1.60 19.40 -3.80 percent [+]
GDP 492.68 467.55 530.77 11.66 USD Billion [+]
GDP Constant Prices 110027.00 109653.00 110027.00 72759.00 EUR Million [+]
Gross National Product 114016.90 112667.50 114016.90 21890.00 EUR Million [+]
Gross Fixed Capital Formation 26223.00 25560.00 26223.00 6663.00 EUR Million [+]
GDP per capita 46078.93 45457.90 46078.93 13193.31 USD [+]
GDP per capita PPP 42658.58 42083.64 42658.58 30647.82 USD [+]
GDP From Agriculture 593.00 811.00 881.00 465.00 EUR Million [+]
GDP From Construction 5321.00 4621.00 5321.00 2794.00 EUR Million [+]
GDP From Manufacturing 16274.00 15626.00 16274.00 10715.00 EUR Million [+]
GDP From Public Administration 14913.00 13328.00 14978.00 10659.00 EUR Million [+]
GDP From Services 19195.00 18307.00 19888.00 14910.00 EUR Million [+]


Belgium GDP Growth Rate

In Belgium, household consumption is the main component of GDP and accounts for 52 percent of its total use, followed by government expenditure (25 percent) and gross fixed capital formation (23 percent). Exports of goods and services account for 84 percent of GDP while imports account for 83 percent, adding 1 percent of total GDP. This page provides - Belgium GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belgium GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.30 15.80 -2.10 1980 - 2018 percent Quarterly
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Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -0.70 Sep/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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