GDP reading: GDP was up 0.5% on a seasonally adjusted month-on-month basis in April, following a 0.1% decline in the...
Economic Growth in Belgium
Belgium's economy recorded an average growth rate of 1.6% in the decade to 2024, compared to the 0.8% average for Euro Area. In 2024, real GDP growth was 1.0%. For more GDP information, visit our dedicated page.
Belgium GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Belgium from 2014 to 2025.
Source: Macrobond.
Belgium GDP Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Economic Growth (Real GDP, ann. var. %) | 6.3 | 4.0 | 1.6 | 1.1 | 1.0 |
| GDP (EUR bn) | 506 | 562 | 602 | 620 | 642 |
| Economic Growth (Nominal GDP, ann. var. %) | 9.1 | 11.0 | 7.2 | 3.0 | 3.6 |
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. On a year-on-year basis, GDP expanded 0.8% in Q1, following a 0.9% expansion in the prior quarter.
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).
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Belgian GDP projections for the next ten years from a panel of 23 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Belgian GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Belgian GDP projections.
Want to get access to the full dataset of Belgian GDP forecasts? Send an email to info@focus-economics.com.
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