Belgium's economic growth moderated further to 1.4% year-on-year in the fourth quarter of 2022, from the previous period's 1.9% expansion. It was the slowest growth rate since the first quarter of 2021. Considering the full year of 2022, the Belgian economy is estimated to have grown 3.1% over a year ago, driven solely by services (+4.2%). source: National Bank of Belgium

GDP Annual Growth Rate in Belgium averaged 2.24 percent from 1981 until 2022, reaching an all time high of 19.40 percent in the first quarter of 1995 and a record low of -13.30 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 February of 2023.

GDP Annual Growth Rate in Belgium is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Belgium GDP Annual Growth Rate is projected to trend around 1.50 percent in 2024 and 1.80 percent in 2025, according to our econometric models.

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Belgium GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-11-30 10:00 AM YoY Final Q3 1.9% 4.1% 1.6%
2023-01-30 10:00 AM YoY Adv Q4 1.4% 1.9% 0.4%
2023-02-28 10:00 AM YoY Final Q4 1.9% 1.4%

Related Last Previous Unit Reference
GDP Growth Rate 0.10 0.20 percent Dec 2022
GDP Annual Growth Rate 1.40 1.90 percent Dec 2022
GDP Constant Prices 115789.00 115588.00 EUR Million Sep 2022
Gross National Product 141087.30 142233.20 EUR Million Sep 2022
Gross Fixed Capital Formation 26642.00 26788.00 EUR Million Sep 2022
Full Year GDP Growth 3.10 6.10 percent Dec 2022
GDP from Services 18478.00 19180.00 EUR Million Sep 2022
GDP from Public Administration 13439.00 14752.00 EUR Million Sep 2022
GDP from Manufacturing 15387.00 15982.00 EUR Million Sep 2022
GDP from Construction 4534.00 5385.00 EUR Million Sep 2022
GDP from Agriculture 677.00 752.00 EUR Million Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
1.40 1.90 19.40 -13.30 1981 - 2022 percent Quarterly