Markets Actual Q2 Q3 Q4 Q1 2022
Currency 1.21 1.21 1.2 1.2 1.2 1.19
Stock Market (points) 4221.27 4127 4036 3946 3858 3683
Government Bond 10Y (%) 0.11 0.1 0.11 0.12 0.13 0.15

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 1.00 0.8 1.4 1.1 0.8 0.6
GDP Annual Growth Rate (%) -0.60 12.5 3.1 4 4.3 3
Unemployment Rate (%) 5.30 7 7.4 7.7 7.2 7
Inflation Rate (%) 1.46 1.7 2.5 2.7 1.9 1.5
Inflation Rate Mom (%) 0.15 0.2 0.2 0.4 0.1 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 2819.10 1090 100 1090 1090 1090
Current Account (EUR Million) -306.00 -1900 -1900 -1500 -1500 -700
Current Account to GDP (% of GDP) -1.20 -1 -1 -1 -1.5 -1.5
Government Debt to GDP (% of GDP) 114.10 116 116 116 118 118
Government Budget (% of GDP) -9.40 -6.8 -6.8 -6.8 -5.7 -5.7
Business Confidence (points) 6.50 2 1.5 1 0.8 2.5
Consumer Confidence (points) 4.00 -8 -3.5 -3.9 -1 -1
Retail Sales MoM (%) -2.70 0.5 -0.5 0.4 1 0.3
Corporate Tax Rate (%) 25.00 29 29 34 34 34
Personal Income Tax Rate (%) 50.00 53.7 50 53.7 53.7 53.7

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 1.00 0.8 1.4 1.1 0.8 0.6
GDP Annual Growth Rate (%) -0.60 12.5 3.1 4 4.3 3
GDP (USD Billion) 529.61 512 512 512 512 530
GDP Constant Prices (EUR Million) 107524.00 106493 109513 110504 110823 113819
Gross National Product (EUR Million) 118400.80 119302 118702 123137 123492 126831
Gross Fixed Capital Formation (EUR Million) 27319.00 23997 24419 27671 27751 28501
GDP per capita (USD) 47540.90 47400 47400 47400 47400 47800
GDP per capita PPP (USD) 51707.80 51500 51500 51500 51500 52000
GDP From Agriculture (EUR Million) 627.00 521 830 414 415 426
GDP From Construction (EUR Million) 5193.00 5250 5078 6118 6136 6302
GDP From Manufacturing (EUR Million) 16380.00 15107 15300 16745 16793 17247
GDP From Public Administration (EUR Million) 13850.00 16205 13726 15151 15194 15605
GDP From Services (EUR Million) 16471.00 15567 16769 17539 17589 18065

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 5.30 7 7.4 7.7 7.2 7
Labour Costs (points) 109.70 120 107 123 123 123
Minimum Wages (EUR/Month) 1625.72 1695 1695 1695 1695 1740
Wage Growth (%) -1.50 1.4 1.4 1.2 1.2 1.2
Population (Million) 11.52 11.59 11.59 11.59 11.59 11.65
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wages In Manufacturing (points) 127.10 99.7 131 103 103 103

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 1.46 1.7 2.5 2.7 1.9 1.5
Inflation Rate Mom (%) 0.15 0.2 0.2 0.4 0.1 0.2
Consumer Price Index CPI (points) 111.05 111 112 112 113 114
Core Consumer Prices (points) 108.92 108 109 110 110 110
Core Inflation Rate (%) 1.10 1.7 1.7 1.8 1.8 1.8
Producer Prices (points) 124.00 111 113 118 125 120
Food Inflation (%) -1.60 -0.5 0.1 0.8 1 1.7
Harmonised Consumer Prices (points) 110.62 110 111 112 112 113
Producer Prices Change (%) 12.00 1 1 2.2 2.2 1.8
CPI Transportation (points) 111.13 108 110 111 112 112

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.33 -0.33 -0.33 -0.33 -0.33 -0.33

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) 2819.10 1090 100 1090 1090 1090
Current Account (EUR Million) -306.00 -1900 -1900 -1500 -1500 -700
Current Account to GDP (% of GDP) -1.20 -1 -1 -1 -1.5 -1.5
Imports (EUR Million) 33388.40 31000 31000 29500 29500 30000
Exports (EUR Million) 36207.50 33500 33500 31000 31000 31150

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (% of GDP) 114.10 116 116 116 118 118
Government Budget (% of GDP) -9.40 -6.8 -6.8 -6.8 -5.7 -5.7
Government Budget Value (EUR Million) -9279.00 2400 2400 3584 3584 3584
Government Spending (EUR Million) 26441.00 25517 26472 26122 26197 26905
Government Spending to GDP (% of GDP) 60.00 54.5 54.5 54.5 54.5 54.2

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 25.00 29 29 34 34 34
Personal Income Tax Rate (%) 50.00 53.7 50 53.7 53.7 53.7
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 38.07 40.57 40.57 40.57 40.57 40.57
Social Security Rate For Companies (%) 25.00 32.5 27.5 32.5 32.5 32.5
Social Security Rate For Employees (%) 13.07 13.07 13.07 13.07 13.07 13.07

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) 6.50 2 1.5 1 0.8 2.5
Industrial Production (%) 3.60 9.5 5.2 3.5 3.3 2.9
Industrial Production Mom (%) 7.40 0.4 0.4 0.3 0.3 0.3

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) 4.00 -8 -3.5 -3.9 -1 -1
Retail Sales MoM (%) -2.70 0.5 -0.5 0.4 1 0.3
Retail Sales YoY (%) 19.00 1.5 3.5 2.8 3.1 1.9
Consumer Spending (EUR Million) 52320.00 52819 57252 54222 54379 55849
Disposable Personal Income (EUR Million) 92777.80 90693 93038 96489 96767 99384
Bank Lending Rate (%) 1.54 1.59 1.59 1.59 1.59 1.59
Gasoline Prices (USD/Liter) 1.89 1.64 1.56 1.38 1.41 1.34
Consumer Credit (EUR Thousand) 7339061.00 8442072 7712545 7719493 7705225 7951077

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) 45.20 2.5 0.9 2.1 0.7 1.5


This page has economic forecasts for Belgium including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Belgium economy.