Belgium | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.50 0.3 0.4 0.4 0.4 0.5 percent [+]
Unemployment Rate 7.00 7.7 7.5 7.6 7.4 6.4 percent [+]
Inflation Rate 2.28 2.6 2.7 2.5 2.3 2.7 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade 2241.40 1782 1682 1683 1686 1090 EUR Million [+]
Government Debt to GDP 105.90 107 106 106 106 100 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 1.08 1.06 1.05 1.04 1.03 0.86 [+]
Stock Market 3887.87 3780 3740 3630 3670 3050 points [+]
Government Bond 10Y 0.82 0.85 0.86 0.87 0.87 1.01 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.50 0.3 0.4 0.4 0.4 0.5 percent [+]
GDP Annual Growth Rate 1.20 1.3 1.4 1.4 1.5 1.9 percent [+]
GDP 455.09 462 458 469 444 479 USD Billion [+]
GDP Constant Prices 103551.00 104209 104476 104765 105094 108992 EUR Million [+]
Gross National Product 105040.60 105617 105588 105720 105727 105866 EUR Million [+]
Gross Fixed Capital Formation 24209.00 24106 23978 24080 23996 24038 EUR Million [+]
GDP per capita 45036.13 44929 45141 45353 45373 46189 USD [+]
GDP per capita PPP 41297.19 41150 41244 41338 41377 41895 USD [+]
GDP From Agriculture 698.00 713 707 708 704 702 EUR Million [+]
GDP From Construction 5661.00 5661 4868 5660 4869 5658 EUR Million [+]
GDP From Manufacturing 15771.00 15446 15458 15716 15306 15623 EUR Million [+]
GDP From Public Administration 14265.00 14263 13399 14261 13401 14250 EUR Million [+]
GDP From Services 18337.00 17957 17693 18322 17685 18231 EUR Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 7.00 7.7 7.5 7.6 7.4 6.4 percent [+]
Employed Persons 3977.60 4014 4024 4033 4036 4049 Thousand [+]
Unemployed Persons 360132.00 366792 366675 364020 363661 363869 [+]
Labor Force Participation Rate 68.40 67.65 67.74 68.07 67.85 67.86 percent [+]
Long Term Unemployment Rate 4.10 4.03 4.01 4 3.99 3.96 percent [+]
Youth Unemployment Rate 19.10 19.36 19.37 19.37 19.37 19.37 percent [+]
Labour Costs 108.30 109 109 109 109 109 Index Points [+]
Job Vacancies 112987.00 120770 122463 123154 124870 135282 [+]
Minimum Wages 1531.93 1532 1538 1532 1543 1585 EUR/Month [+]
Wage Growth 2.10 1.39 1.38 1.3 1.4 1.48 percent [+]
Population 11.31 11.28 11.29 11.3 11.3 11.48 Million [+]
Retirement Age Women 65.00 65 65 65 65 65 [+]
Retirement Age Men 60.00 60 60 60 60 60 [+]
Employment Change 0.30 0.3 0.23 0.5 0.21 0.4 percent [+]
Employment Rate 62.20 62.09 62.17 62.14 62.11 62.16 percent [+]
Full Time Employment 3467.90 3466 3470 3476 3475 3476 Thousand [+]
Productivity 100.10 101 101 101 101 101 Index Points [+]
Wages High Skilled 3020.00 3086 3089 3090 3091 3092 EUR/Month [+]
Wages In Manufacturing 93.10 111 93.1 111 93.1 111 Index Points [+]
Wages Low Skilled 1850.00 1864 1864 1865 1865 1865 EUR/Month [+]
Part Time Employment 1159.00 1148 1150 1176 1172 1234 Thousand [+]
Living Wage Family 1342.30 1347 1347 1347 1347 1347 EUR/Month [+]
Living Wage Individual 1124.20 1135 1135 1135 1135 1135 EUR/Month [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 2.28 2.6 2.7 2.5 2.3 2.7 percent [+]
Inflation Rate Mom 0.23 0.18 0.18 0.18 0.18 0.18 percent [+]
Consumer Price Index CPI 104.91 105 106 106 107 111 Index Points [+]
Core Consumer Prices 103.04 104 103 103 103 103 Index Points [+]
Core Inflation Rate 1.20 1.31 1.29 1.28 1.28 1.28 percent [+]
GDP Deflator 103.44 104 104 105 105 108 Index Points [+]
Producer Prices 110.90 114 116 118 120 132 Index Points [+]
Export Prices 144.76 145 145 145 145 145 Index Points [+]
Import Prices 151.00 152 152 152 152 152 Index Points [+]
Food Inflation 1.50 1.34 1.39 1.34 1.35 1.35 percent [+]
Cpi Transportation 102.33 102 102 102 102 102 Index Points [+]
Harmonised Consumer Prices 103.99 105 104 105 104 105 Index Points [+]
Producer Prices Change 15.01 7.6 5.5 4.2 3.7 3 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Interbank Rate -0.33 -0.33 -0.32 -0.32 -0.32 -0.32 percent [+]
Money Supply M0 37368.00 37930 38267 38586 38894 41687 EUR Million [+]
Money Supply M1 185900.00 190927 193956 196884 199797 230066 EUR Million [+]
Money Supply M2 497200.00 502370 505545 508712 511822 542587 EUR Million [+]
Money Supply M3 524700.00 529027 531819 534489 537043 558773 EUR Million [+]
Banks Balance Sheet 1156957.87 1147562 1152495 1148080 1152565 1148076 EUR Million [+]
Foreign Exchange Reserves 23144.00 23212 23216 23217 23218 23218 EUR Million [+]
Central Bank Balance Sheet 151726.00 151019 150027 149742 149696 149708 EUR Million [+]
Private Debt to GDP 258.20 265 266 268 268 285 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 2241.40 1782 1682 1683 1686 1090 EUR Million [+]
Exports 31387.60 30476 30427 30446 30443 30443 EUR Million [+]
Imports 29146.20 28561 28643 28669 28675 28677 EUR Million [+]
Current Account -1671.00 -378 -363 -394 -405 -404 EUR Million [+]
Current Account to GDP 1.60 1.8 1.33 1.18 1.22 1.5 percent [+]
Terms of Trade 95.87 96.32 96.31 96.29 96.29 96.29 Index Points [+]
Capital Flows -601.00 -12.95 -40.05 -52.32 -50.08 -49.48 EUR Million [+]
Remittances 1218.00 1329 1276 1315 1285 1279 EUR Million [+]
Gold Reserves 227.40 227 227 227 227 227 Tonnes [+]
Foreign Direct Investment -24110.00 -1572 -1073 929 968 3424 EUR Million [+]
External Debt 1115985.00 1048787 1030195 1028102 1034985 1057078 EUR Million [+]
Terrorism Index 1.25 1.19 1.13 1.08 1.06 1.28 [+]
Weapons Sales 10.00 51.46 45.33 39.2 42.23 52.82 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 105.90 107 106 106 106 100 percent [+]
Government Budget -2.60 -2.5 -2.56 -2.2 -2.54 -0.8 percent of GDP [+]
Government Budget Value -10659.00 -11925 -11736 -11546 -11403 -11385 EUR Million [+]
Government Spending 24503.00 24559 24566 24569 24570 24571 EUR Million [+]
Government Spending to GDP 53.30 53.39 53.22 53.05 53.05 53.24 percent [+]
Government Revenues 210329.30 213456 214156 214856 216183 235339 EUR Million [+]
Government Debt 538275.00 555724 557449 547788 554162 556361 EUR Million [+]
Fiscal Expenditure 220988.30 224644 223980 223315 223570 228069 EUR Million [+]
Asylum Applications 1080.00 1121 1170 1163 1137 1145 persons [+]
Military Expenditure 4952.80 4998 4930 4862 4848 4666 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence -1.60 -2.25 -2.48 -2.52 -2.53 -2.54 [+]
Industrial Production 3.10 5.73 5.28 5.26 5.34 5.46 percent [+]
Industrial Production Mom -4.80 -0.06 0.14 0.24 0.26 0.26 percent [+]
Manufacturing Production 11.40 6.41 5.87 5.77 5.81 5.92 percent [+]
Capacity Utilization 79.40 78.12 79.31 79.26 79.01 78.78 percent [+]
New Orders 115.76 122 122 122 122 122 Index Points [+]
Bankruptcies 930.00 788 807 795 796 797 Companies [+]
Car Registrations 61066.00 44840 41906 44002 43939 43698 Cars [+]
Changes In Inventories -325.00 -396 -325 -370 -401 -442 EUR Million [+]
Competitiveness Index 5.25 5.18 5.18 5.18 5.23 5.22 Points [+]
Competitiveness Rank 17.00 19 19 19 18 18 [+]
Ease of Doing Business 42.00 39 39 38 38 30 [+]
Electricity Production 7878.00 7859 7859 7859 7859 7859 Gigawatt-hour [+]
Corporate Profits 36858.00 34956 34767 34579 34904 31733 EUR Million [+]
Corruption Index 77.00 77 77 77 77 75 Points [+]
Corruption Rank 15.00 15 15 15 15 15 [+]
Steel Production 565.00 601 607 609 611 612 Thousand Tonnes [+]
Mining Production 9.80 7.26 7.17 7.33 7.35 7.36 percent [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 0.00 -7 -5 -2 -3.69 -3 [+]
Retail Sales MoM -0.60 -0.3 0.01 0.7 0.01 0.9 percent [+]
Retail Sales YoY -3.20 0.5 -0.09 0.06 0.16 1.6 percent [+]
Consumer Spending 52945.00 53310 53492 53675 53858 55868 EUR Million [+]
Disposable Personal Income 82948.90 82938 82935 82935 82935 82935 EUR Million [+]
Personal Savings 12.60 12.46 12.28 12.41 12.37 12.38 percent [+]
Bank Lending Rate 1.68 1.67 1.67 1.67 1.67 1.67 percent [+]
Consumer Credit 8337029.00 8311134 8308601 8307590 8307220 8307132 EUR Thousand [+]
Gasoline Prices 1.53 1.5 1.5 1.5 1.5 1.5 USD/Liter [+]
Households Debt To Gdp 59.10 59.67 59.8 59.96 60.09 61.29 percent of GDP [+]
Households Debt To Income 102.14 102 103 103 104 103 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Building Permits 1413.00 1888 1849 1838 1843 1843 [+]
Housing Starts 3.57 3.67 3.67 3.67 3.67 3.67 Thousand [+]
Construction Output 5.80 -1.44 2.97 -0.1 1.72 1.06 percent [+]
Housing Index 113.05 114 116 116 115 122 Index Points [+]
Home Ownership Rate 71.40 71.62 71.5 71.37 71.46 71.87 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 34.00 34 34 34 34 34 percent [+]
Personal Income Tax Rate 53.70 53.69 53.67 53.65 53.65 53.65 percent [+]
Sales Tax Rate 21.00 21 21 21 21 21 percent [+]
Social Security Rate 45.22 44.88 43.6 42.32 41.71 36.25 percent [+]
Social Security Rate For Companies 32.15 31.79 30.44 29.08 28.5 23.74 percent [+]
Social Security Rate For Employees 13.07 13.06 13.06 13.06 13.06 13.06 percent [+]





Economic Forecasts for Belgium including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Belgium economy. 4/24/2017