Trade Balance in Belgium
Belgium - Trade BalanceOutput 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 - Trade Balance Data
|Trade Balance (USD billion)||21.3||19.0||21.2||13.6||19.0|
5 years of economic forecasts for more than 30 economic indicators.
Belgium Trade Balance Chart
Source: National Bank of Belgium.
|Bond Yield||0.10||0.15 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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January 20, 2023
Consumer confidence rose to minus 12.0 in January from December's minus 15.0.
January 16, 2023
Harmonized inflation eased to 10.2% in December, from November’s 10.5%.
January 10, 2023
Industrial production increased 5.6% year on year in calendar-adjusted terms in November (October: -2.8% c.a.
December 20, 2022
Consumer confidence jumped to minus 15.0 in December from November's minus 22.0.
December 16, 2022
Harmonized inflation dropped to 10.5% in November from October’s 13.1%.