The Gross Domestic Product (GDP) in Belgium contracted 14.40 percent in the second quarter of 2020 over the same quarter of the previous year.

GDP Annual Growth Rate in Belgium averaged 2.14 percent from 1981 until 2020, reaching an all time high of 19.40 percent in the first quarter of 1995 and a record low of -14.40 percent in the second quarter of 2020. This page provides - Belgium GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belgium GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

GDP Annual Growth Rate in Belgium is expected to be -5.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Belgium to stand at 13.50 in 12 months time. In the long-term, the Belgium GDP Annual Growth Rate is projected to trend around 3.20 percent in 2021 and 2.20 percent in 2022, according to our econometric models.

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Belgium GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-14.40 -2.40 19.40 -14.40 1981 - 2020 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2020-04-29 09:00 AM YoY Adv Q1 -2.8% 1.3% -3.5%
2020-05-29 09:00 AM YoY Final Q1 -2.5% 1.3% -2.8% -2.8%
2020-07-30 09:00 AM YoY Adv Q2 -14.5% -2.4% -12.8%
2020-08-31 09:00 AM YoY Final Q2 -14.4% -2.4% -14.5% -14.5%
2020-10-29 10:00 AM YoY Adv Q3 -14.4% -5.8%
2020-11-30 10:00 AM YoY Final Q3 -14.4% -5.8%

Belgium GDP Annual 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.