Belgium: Economic growth accelerates in the first quarter of 2026
GDP reading: Belgium’s GDP increased 0.2% in seasonally adjusted quarter-on-quarter terms in Q1, following a 0.1% expansion in the prior quarter. The reading contrasted the contraction in the broader Euro area economy.
Private spending and exports drove uptick: Compared to the previous quarter’s data, readings in Q1 improved for private consumption (+0.6% on a seasonally adjusted quarter-on-quarter basis vs 0.0% in Q4), exports of goods and services (+2.8% vs -1.3% in Q4) and imports of goods and services (+2.6% vs -1.0% in Q4). In contrast, readings worsened for government consumption (-0.5% vs +0.7% in Q4) and fixed investment (+0.3% vs +1.3% in Q4).
On a year-on-year basis, GDP expanded 0.8% in Q1, following a 0.9% expansion in the prior quarter.