Belgium economy 2019

Belgium - Belgium - Economy: Belgium has a free-enterprise economy, with the majority of the gross domestic product (GDP) generated by the service sector. The Gross Domestic Product (GDP) in Belgium was worth 532 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech.
Belgium Economic News. The country has been a member of a variety of supranational organizations, including the Belgium-Luxembourg Economic Union (BLEU), the Benelux Economic Union, and the EU. Page last updated on January 27, 2020 Economy - overview: Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech. The GDP value of Belgium represents 0.44 percent of the world economy. Its overall score has increased by 1.6 points, led by an increase in the government integrity score. May 29, 2020. May 25, 2020 Read more. Belgium: Economic activity slumps at record pace in Q1. Belgium: Economic sentiment improves in May. The economy slowed marginally to 1.4% in 2019, but we expect a sharp economic contraction in 2020 owing to the severe demand- and supply-side shock caused by the outbreak of the novel coronavirus. The Belgian economy is set to grow by an average 1.2% in the coming years and households’ purchasing power picks up 07 June 2019 12:00 Brussels, 7 June 2019 – Economic activity in Belgium is expected to grow by about 1.2 % annually over the next three years. The Belgian economy also is inextricably tied to that of Europe. GDP shrank 3.6% on quarter-on-quarter seasonally-adjusted basis in the first quarter, contrasting Q4 2019’s 0.5% expansion and marking the sharpest contraction on record. Belgium’s economic freedom score is 68.9, making its economy the 48th freest in the 2020 Index. Economic forecast for Belgium The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July).

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