Belgium’s economy expanded 0.3 percent on quarter in the first quarter of 2019, following an upwardly revised 0.4 percent growth in the previous period and above the preliminary estimate of 0.2 percent, as gross fixed investment growth slowed (0.4 percent vs 3.4 percent in Q4). Meanwhile, household consumption rebounded (0.3 percent from a flat reading) while government consumption increased faster (0.2 percent vs 0.1 percent). Regarding net foreign demand, exports went up 0.3 percent (from 1.1 percent in Q4) while imports fell 0.1 percent (from 1.8 percent in Q4). Compared to the same quarter of 2018, gross domestic product rose 1.2 percent, the same as in the previous quarter and above the preliminary estimate of 1.1 percent. GDP Growth Rate in Belgium averaged 0.54 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.