Benelux Turns A Corner For Progress
Belgium, the Netherlands and Luxembourg call on old and new strengths to jump-start growth.
Belgium GDP and Economic Data
Country Report - Includes Belgium real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Belgium economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Belgium best banks and safest banks are also available.
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International Reserves
USD 33.30 billion (2020)
World Bank, last updated 12/16/2021
Gross Domestic Product - GDP
USD 581.85 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP (Purchasing Power Parity)
Intl$ 550.5 billion (2018, estimate)
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Real GDP growth
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 1.6% | 1.8% | 1.8% | –6.3% | 5.6%* |
*Estimate
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GDP per capita - current prices
USD 50,412.71 (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP per capita - PPP
USD 55,919.13 (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP (PPP) - share of world total
0.45% (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP - composition by sector
- agriculture: 0.7%
- industry: 19.2%
- services: 69.6%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP)
3.2% (2019)
OECD, retrieved January 2022
Unemployment rate
| 2017 | 2018 | 2019 | 2020 | 2021* |
| 7.1% | 6.0% | 5.4% | 5.6%* | 6.3%* |
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Public debt (General government gross debt as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 102% | 99.8% | 98.1% | 114.1% | 113.4% |
*Estimate
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Public deficit (General government net lending/borrowing as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 1.4% | 1.0% | -0.2% | -7.7% | -5.6% |
*Estimate
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Government bond ratings
Standard & Poor's: AA
Moody's: Aa3
Standard & Poor's / Moody's (January 2022)
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Market value of publicly traded shares
USD 321.1 billion (2018) World Bank / Market capitalization
Largest companies
KBC Group, Anheuser-Busch InBev, Ageas, UCB, Solvay, Umicore, Sofina, Colruyt, Proximus
Forbes Global 2000 (2021)
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Current account balance by percentage of GDP
-1.3 % (2018 estimate)
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Exports as percent of GDP (Exports of goods and services)
87.9% (2018)
Shares in world total merchandising export
2.40% (2018)
Shares in world total commercial services export
2.10% (2018)
Export commodities
Chemicals, machinery and equipment, finished diamonds, metals and metal products, foodstuffs
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Import commodities
Raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, oil products
Exports - major partners
Germany 16.6%, France 14.9%, Netherlands 12%, UK 8.4%, Italy 4.9%, US 4.8% (2017)
Imports - major partners
Netherlands 17.3%, Germany 13.8%, France 9.5%, US 7.1%, UK 4.9%, Ireland 4.2%, China 4.1% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 50,987 million | USD -5,763 million | USD 4,873 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 20,974 million | USD 24,201 million | USD 6,910 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 5,590 million | USD 101,060 million | USD -8,771 million | USD 410 million |
Cross-border M&A deals worth over $3 billion completed in 2014
Anheuser-Busch Inbev, Oriental Brewery Co Ltd, Korea, Republic of, USD 5.8 billion
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
Solvay SA, Cytec Industries Inc, United States, USD 5.5 billion
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
46 out of 190 countries
Subcategories:
Starting a Business: 48 out of 190 countries
Dealing with Construction Permits: 45 out of 190 countries
Getting Electricity: 108 out of 190 countries
Registering Property: 139 out of 190 countries
Getting Credit: 67 out of 190 countries
Protecting Minority Investors: 45 out of 190 countries
Paying Taxes: 63 out of 190 countries
Trading across Borders: 1 out of 190 countries
Enforcing Contracts: 56 out of 190 countries
Resolving Insolvency: 9 out of 190 countries
World Bank - Doing Business 2019
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Global competitiveness ranking
22 out of 141 countries
World Economic Forum - The Global Competitiveness Index 2019
Index of Economic Freedom
Ranking: 48 / Score: 67.3 (Moderately free)
(100=totally free 0=totally repressed)
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Government type
Federal parliamentary democracy under a constitutional monarchy
Languages
Dutch (official) 60%, French (official) 40%, German (official) less than 1%
Religions
Roman Catholic 50%, Protestant and other Christian 2.5%, Muslim 5%, Jewish 0.4%, Buddhist 0.3%, atheist 9.2%, none 32.6% (2009 est.)
Total population
| 1990 | 2000 | 2010 | 2015* | 2020* |
| 9.95 million | 10.24 million | 10.84 million | 11.24 million | 11.52 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 92.5% | 95.4% | 97.1% | 98% |
% of population living on less than $3.10 a day
0.2% (last available estimate, 2015)
Inequality of wealth distribution (Gini index)
27.7 (last available estimate, 2015)
(0=perfect equality, 100=absolute inequality)
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Freedom House rating
Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free)
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Total telephone subscribers as % of population
Fixed: 35.8% Mobile: 103.4% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)