GDP in Belgium
Belgium - GDP
Belgian economy grows modestly in Q2
A second estimate released by the Bank of Belgium (NBB) on 31 August confirmed that the economy expanded at a pace of 0.4% in quarter-on-quarter terms in Q2, down from Q1’s more robust 0.6% expansion. The moderation was caused by a slowdown in the external sector.
On the domestic side of the economy, demand experienced a turnaround after declining in Q1. Fixed investment performed well in Q2, rebounding from a contraction in Q1 (Q2: +2.4% quarter-on quarter; Q1: -0.7% qoq). Business investment expanded robustly, helped by good credit conditions and strong external demand. Supported by falling inflation, private consumption continued its pace of 0.5% growth in quarterly terms. Government expenditure improved slightly from minus 0.3% in Q1 to minus 0.1% in Q2.
The external sector, however, slowed in Q2. In quarterly terms, export growth accelerated from 0.7% in Q1 to 1.1% in Q2. However, imports grew more quickly to outpace exports (Q2: +1.3% qoq; Q1: -0.2% qoq). As a result, the net contribution to growth was negative at minus 0.2 percentage points (Q1: +0.8 percentage points).
On an annual basis, GDP grew 1.5% in Q2, down marginally from Q1’s 1.6%.
The National Bank of Belgium expects the economy to grow 1.6% in both 2017 and 2018. FocusEconomics Consensus Forecast panelists also expect the economy to expand 1.6% in both 2017 and 2017; both forecasts are unchanged from last month’s estimate.
Belgium - GDP Data
| 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 0.1 | -0.1 | 1.7 | 1.5 | 1.2 |
Belgium GDP Chart
Source: National Bank of Belgium and FocusEconomics calculations
Belgium Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.74 | 1.51 % | Sep 21 |
| Exchange Rate | 1.19 | -0.61 % | Sep 21 |
| Stock Market | 3,969 | 0.08 % | Sep 21 |
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Economic News
Belgium: Belgian economy grows modestly in Q2
August 31, 2017
A second estimate released by the Bank of Belgium (NBB) on 31 August confirmed that the economy expanded at a pace of 0.4% in quarter-on-quarter terms in Q2, down from Q1’s more robust 0.6% expansion.
Belgium: Industrial production picks up in June
August 25, 2017
A month-on-month comparison shows that industrial production rose a seasonally-adjusted 1.1% in June, contrasting May’s revised 0.4% rise (previously reported: -1.7%) and the fastest monthly expansion in four months.
Belgium: Consumer confidence remains unchanged in August, while business confidence declines slightly
August 24, 2017
Business confidence fell from minus 1.5 in July to minus 2.1 in August.
Belgium: Belgian economy continues to plod along in Q2
July 31, 2017
According to preliminary data released by the Bank of Belgium (NBB) on 31 July, the economy returned to a sedate pace of growth in the second quarter of the year, expanding 0.4% quarter-on-quarter (qoq).
Belgium: Industrial production dips in May
July 25, 2017
A month-on-month comparison shows that industrial production dipped a seasonally-adjusted 1.7% in May, contrasting April’s revised 0.1% uptick (previously reported: +0.3% month-on-month).
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