Current Account in Belgium

Belgium Current Account | Economic News & Forecasts

Belgium - Current Account

Output grew at a reduced pace in Q1 2022 compared to Q4 2021, chiefly driven by a contraction in industry. That said, the services and construction sectors expanded at healthy paces and unemployment continued its downward trend. Since March, growth is likely sluggish, affected by the global slowdown in demand and high inflation. Industrial production is likely being affected by the sector’s elevated dependency on Russian gas, high prices for which will squeeze firms’ profit margins. Moreover, consumer confidence remained severely downbeat in April and May, likely weakening consumption in the quarter. That said, business confidence held up through May, which could be supporting investment intentions. Finally, in a May report the European Commission recommended that Belgium focus on addressing fiscal sustainability challenges, excessive red tape and the low participation rate.

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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