Belgium's gross domestic product grew by 0.6 percent on quarter in the first three months of 2021, rebounding from a 1 percent contraction in the previous period, a preliminary estimate showed. The latest reading came in much better than market forecasts of a 0.1 percent decline, as sectors such as industry (1.3 percent), services (0.2 percent) and construction (0.1 percent) remained resilient to a renewed increase in coronavirus infections and consequent restrictions. Year-on-year, the economy shrank 1 percent in the first quarter of the year, easing from a downwardly revised 4.9 percent contraction and marking the fifth consecutive quarter of declines in annual GDP. 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 May 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.