Markets Actual Q3 Q4 Q1 Q2 2022
Currency 1.17 1.18 1.17 1.17 1.16 1.15
Stock Market (points) 4133.21 4062 3950 3840 3734 3530
Government Bond 10Y (%) 0.02 0 0 0.01 0.01 0.01
2 Year Note Yield (%) -0.76 0.02 0.04 0.06 0.09 0.09

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 1.70 1.4 1.1 0.8 0.7 0.6
GDP Annual Growth Rate (%) 14.90 3.1 4 4.3 3.9 3
Unemployment Rate (%) 5.90 5.8 5.6 5.2 5 4.9
Inflation Rate (%) 2.73 3 2.7 2.2 1.8 1.6
Inflation Rate Mom (%) 0.52 -0.1 0.2 0.2 0.1 0.2
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 4381.00 2600 2000 2000 1500 1500
Current Account (EUR Million) 2514.00 -1900 -1500 -1500 -1500 -700
Current Account to GDP (% of GDP) -0.20 -1 -1 -1.5 -1.5 -1.5
Government Debt to GDP (% of GDP) 114.10 116 116 118 118 118
Government Budget (% of GDP) -9.40 -6.8 -6.8 -5.7 -5.7 -5.7
Business Confidence (points) 7.60 7.1 1 0.8 3.5 2.5
Consumer Confidence (points) 5.00 6 4 -1 -1 -1
Retail Sales MoM (%) -2.50 -0.5 0.4 1 1 0.3
Corporate Tax Rate (%) 25.00 29 34 34 34 34
Personal Income Tax Rate (%) 50.00 53.7 53.7 53.7 53.7 53.7

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 1.70 1.4 1.1 0.8 0.7 0.6
GDP Annual Growth Rate (%) 14.90 3.1 4 4.3 3.9 3
GDP (USD Billion) 515.33 512 512 512 512 530
GDP Constant Prices (EUR Million) 109446.00 109513 110677 112232 113714 113997
Gross National Product (EUR Million) 118660.20 118702 122774 123763 123288 126457
Gross Fixed Capital Formation (EUR Million) 27800.00 24419 27711 28549 28884 28542
GDP per capita (USD) 44361.25 47400 47400 47400 47400 47800
GDP per capita PPP (USD) 48210.03 51500 51500 51500 51500 52000
GDP From Agriculture (EUR Million) 919.00 830 414 649 955 426
GDP From Construction (EUR Million) 5774.00 5078 6099 5433 5999 6282
GDP From Manufacturing (EUR Million) 16725.00 15300 16759 17130 17377 17261
GDP From Public Administration (EUR Million) 14477.00 13726 15266 14430 15042 15724
GDP From Services (EUR Million) 17261.00 16769 17518 17105 17934 18043

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 5.90 5.8 5.6 5.2 5 4.9
Labour Costs (points) 111.20 112 112 110 113 113
Minimum Wages (EUR/Month) 1625.72 1695 1695 1695 1695 1740
Wage Growth (%) 0.20 1.4 1.2 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) 106.40 98.56 103 108 108 133

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 2.73 3 2.7 2.2 1.8 1.6
Inflation Rate Mom (%) 0.52 -0.1 0.2 0.2 0.1 0.2
Consumer Price Index CPI (points) 112.83 113 112 113 113 114
Core Consumer Prices (points) 109.77 110 110 110 111 112
Core Inflation Rate (%) 3.20 1.7 1.8 1.8 1.8 1.8
Producer Prices (points) 132.30 129 135 125 131 120
Food Inflation (%) 111.39 0.1 0.8 1 1 1.7
Harmonised Consumer Prices (points) 110.59 111 112 112 113 113
Producer Prices Change (%) 18.90 15 2.2 2.2 2.2 1.8
CPI Transportation (points) 113.01 110 111 112 113 112

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.33 -0.33 0.44 -0.33 -0.33 -0.33

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (EUR Million) 4381.00 2600 2000 2000 1500 1500
Current Account (EUR Million) 2514.00 -1900 -1500 -1500 -1500 -700
Current Account to GDP (% of GDP) -0.20 -1 -1 -1.5 -1.5 -1.5
Imports (EUR Million) 31568.70 35900 32500 37500 35500 33500
Exports (EUR Million) 35949.70 38500 34500 39500 37000 35000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 114.10 116 116 118 118 118
Government Budget (% of GDP) -9.40 -6.8 -6.8 -5.7 -5.7 -5.7
Government Budget Value (EUR Million) -42318.10 2400 3584 3584 3584 3584
Government Spending (EUR Million) 27224.00 26472 27159 27433 28286 27973
Government Spending to GDP (% of GDP) 60.00 54.5 54.5 54.5 54.5 54.2

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 25.00 29 34 34 34 34
Personal Income Tax Rate (%) 50.00 53.7 53.7 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 32.5 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 Q3 Q4 Q1 Q2 2022
Business Confidence (points) 7.60 7.1 1 0.8 3.5 2.5
Industrial Production (%) 26.50 5.2 3.5 3.3 1.9 2.9
Industrial Production Mom (%) 5.10 0.4 0.3 0.3 0.3 0.3

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) 5.00 6 4 -1 -1 -1
Retail Sales MoM (%) -2.50 -0.5 0.4 1 1 0.3
Retail Sales YoY (%) 2.90 3.5 2.8 3.1 2.3 1.9
Consumer Spending (EUR Million) 54276.00 57252 53924 54687 56393 55542
Disposable Personal Income (EUR Million) 93248.20 93038 96493 97258 96885 99388
Bank Lending Rate (%) 1.57 1.57 1.57 1.57 1.57 1.57
Gasoline Prices (USD/Liter) 1.94 1.84 1.75 1.66 1.58 1.5
Consumer Credit (EUR Thousand) 7281137.00 7712545 7719493 7705225 7606643 7951077

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) -3.80 0.9 2.1 0.7 0.5 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.