Industrial Production in Belgium
In the decade up to 2022, Belgium's economy noted an average industrial production growth rate of 2.6%, which is above the Euro Area's 1.1% average. In 2022, Belgium suffered a -0.7% industrial production growth. For more industry information, visit our dedicated page.
Belgium Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Belgium from 2014 to 2023.
Source: Macrobond.
Belgium Industry Data
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 5.2 | -4.1 | 25.5 | -0.5 | -7.3 |
Industrial output growth dips in May
Industrial output rose 2.6% year on year in calendar-adjusted terms in May (April: +2.8% c.a. yoy). May's slowdown was largely due to a deterioration in manufacturing output growth. In contrast, energy production rebounded. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at minus 6.6%, up from April's minus 7.2%. On a monthly basis, industrial output rose 2.5% in seasonally adjusted terms in May, notably above April’s 0.3% expansion.
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.
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