Current Account in Belgium

Belgium Current Account | Economic News & Forecasts

Belgium - Current Account

The economy should have recovered somewhat in Q3 after entering recession in Q2, although the pandemic continued to weigh on activity somewhat. Data for Q3 shows that industrial production deteriorated at a reduced rate in July–August relative to Q2. Moreover, retail sales regained strength in July–August, surging in August at a pace not seen since September 2008. In other news, a new coalition government was sworn in on 1 October, breaking 16 months of political deadlock. The new government’s program promises extra spending, which should support the recovery ahead. However, the challenging fiscal situation could limit room for maneuver, while the divergence of parties makes the coalition fragile. Meanwhile, surging Covid-19 cases led to the imposition of new restrictions on 19 October, including the closure of bars and restaurants, which is likely to hamper the recovery in Q4.

Belgium - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)1.3  0.6  1.2  -1.3  -1.3  

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Belgium Current Account Chart


Belgium Current Account
Note: Current account balance as % of GDP.
Source: National Bank of Belgium and FocusEconomics calculations.

Belgium Facts

Value Change Date
Bond Yield0.100.15 %Dec 31
Exchange Rate1.120.65 %Dec 31

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