The Belgium economy expanded at a record 6.1% in 2021, following a 5.7% contraction in 2020 which was the biggest decline ever due to the coronavirus crisis. source: National Bank of Belgium

Full Year GDP Growth in Belgium averaged 1.74 percent from 1996 until 2021, reaching an all time high of 6.10 percent in 2021 and a record low of -5.70 percent in 2020. This page includes a chart with historical data for Belgium Full Year GDP Growth. Belgium Full Year GDP Growth - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.

Full Year GDP Growth in Belgium is expected to reach 2.90 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Belgium Full Year GDP Growth is projected to trend around 0.50 percent in 2023 and 1.00 percent in 2024, according to our econometric models.

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Belgium Full Year GDP Growth

Related Last Previous Unit Reference
GDP Growth Rate -0.10 0.50 percent Sep 2022
GDP Annual Growth Rate 1.60 4.10 percent Sep 2022
GDP 599.88 521.68 USD Billion Dec 2021

Belgium Full Year GDP Growth
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.
Actual Previous Highest Lowest Dates Unit Frequency
6.10 -5.70 6.10 -5.70 1996 - 2021 percent Yearly