The Belgian economy expanded by 1.0 percent on quarter in the first three months of 2021, faster than earlier estimates of a 0.6% growth and rebounded from a 0.1 percent contraction in the prior period. Economic activity resumed its approach to pre-pandemic levels, driven by households' consumption expenditure (0.9 percent vs -6.4 percent in 4Q 2020). Also, net foreign demand continued to support the economy, as imports fell 1.3 percent, while exports went down a slower 0.5 percent. At the same time, general government expenditure increased at a faster pace (1.3 percent vs 0.3 percent). Finally, gross fixed capital formation continued to grow (2.5 percent vs 3.7 percent), mostly public investment (4.4 percent vs 2.4 percent) and household investment (2.7 percent vs 1.8 percent). On a yearly basis, the country’s GDP retreated 0.6 percent in the three months ending March, easing from a downwardly revised 4.9 percent contraction in the previous quarter. source: National Bank of Belgium
GDP Growth Rate in Belgium averaged 0.53 percent from 1980 until 2021, reaching an all time high of 15.80 percent in the first quarter of 1995 and a record low of -11.90 percent in the second quarter of 2020. This page provides - Belgium GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belgium GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
GDP Growth Rate in Belgium is expected to be 0.80 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 0.80 in 12 months time. In the long-term, the Belgium GDP Growth Rate is projected to trend around 0.60 percent in 2022 and 0.50 percent in 2023, according to our econometric models.