Latest reading: Manufacturing output flatlined month on month in seasonally adjusted terms in June, which followed May’s 2.2% increase. Looking...
Industrial Production in Belgium
The Belgian economy recorded an average industrial production growth rate of 2.3% in the decade to 2024. In 2024, industrial production growth was -2.5%. For more industry information, visit our dedicated page.
Belgium Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Belgium from 2024 to 2023.
Source: Macrobond.
Belgium Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -4.1 | 25.5 | -0.5 | -7.3 | -2.5 |
Industrial output drops at sharpest pace since December 2024 in May
Latest reading: Industrial output fell 2.7% in month-on-month seasonally adjusted terms in May, which was a larger contraction than April's 0.6% decrease. The figure marked the worst reading since December 2024 and was due to a sharper drop in manufacturing output plus a decline in mining and quarrying production. On an annual basis, industrial output dove 7.3% in May, which was well below April’s 2.4% fall and marking the worst result since December 2024. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.2% in May, down from April's minus 1.7% reading.
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 industry projections for the next ten years from a panel of 5 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 industry forecast available for Belgian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Belgian industry projections.
Want to get access to the full dataset of Belgian industry forecasts? Send an email to info@focus-economics.com.
Latest Global Industrial production News
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South Africa: Manufacturing production flatlines in June -
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