Belgium's gross domestic product shrank by 1 percent from a year earlier in the first quarter of 2021, easing from a downwardly revised 4.9 percent contraction, a preliminary estimate showed. It marks the fifth consecutive quarter of declines in annual GDP amid the coronavirus pandemic. source: National Bank of Belgium

GDP Annual Growth Rate in Belgium averaged 2.06 percent from 1981 until 2021, reaching an all time high of 19.40 percent in the first quarter of 1995 and a record low of -13.90 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 May of 2021.

GDP Annual Growth Rate in Belgium is expected to be 12.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Belgium to stand at 4.30 in 12 months time. In the long-term, the Belgium GDP Annual Growth Rate is projected to trend around 3.00 percent in 2022 and 2.20 percent in 2023, according to our econometric models.

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Belgium GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.00 -4.90 19.40 -14.00 1981 - 2021 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-30 10:00 AM YoY Final Q3 -4.5% -13.9% -5.2%
2021-01-29 10:00 AM YoY Adv Q4 -4.8% -4.3% -3.7%
2021-03-01 10:00 AM YoY Final Q4 -5.1% -4.3% -4.8% -4.8%
2021-04-29 09:00 AM YoY Adv Q1 -1% -4.9% -3.3%
2021-05-31 09:00 AM YoY Final Q1 -5.1% -1% -1%
2021-07-29 09:00 AM YoY Adv Q2 12.5%
2021-08-31 09:00 AM YoY Final Q2
2021-10-28 10:00 AM YoY Adv Q3 3.1%
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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.