New, Everything you need to know about the industry development, Find studies from all around the internet. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Belgium ranked first for trade balance with US per million amongst Cold countries in 2003. GDP (Nominal) and GDP (PPP) of european countries by IMF. Keeping up this momentum on structural reforms is key to energise the economy. Updated as of 2019. Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Belgium economic outlook, debt to GDP ratio, international trade performance and population trends. Following the revision, Belgium's GDP contracted 11.8% in the second quarter compared with a first estimate of a 12.2% decline. Belgium from The World Bank: Data. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. "Gross Domestic Product (Gdp) in Belgium in 2018, by Economic Sector (in Million Euros). Inflation in 2020 will barely reach 0.3%, mainly owing to the fall in energy prices. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. Belgium ranked #13 for GDP amongst Europe in 2012. The Belgian insurance sector will be doubling up efforts to mitigate the negative impact of the coronavirus crisis on private individuals, households, the self-employed and companies. Please note that OECD reference year from 2010 to 2015 changed on Tuesday 3rd of December, 2019. Download Historical Data Save as Image. Belgium ranked second last for GDP > composition by sector > agriculture amongst European Union in 2012. The government deficit for 2020 is estimated at 10.6% of GDP and although it will diminish thereafter, it will still amount to around 6% of GDP. We expect real GDP to contract in 2020, owing to the economic fallout caused by the outbreak of the novel coronavirus and a recovery to annual growth in 2021. BELGIUM TRADE AND INVESTMENT STATISTICAL NOTE Over one-third (34% in 2014) of economic activity (GDP) in Belgium depends on foreign markets, around the same as in the Netherlands and Austria. Field Listing :: GDP - composition, by sector of origin This entry shows where production takes place in an economy. This indicator is based on nominal GDP (also called GDP at current prices or GDP in value) and is available in different measures: US dollars and US dollars per capita (current PPPs). Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Please refer to the dataset Gross domestic product (GDP), 2019 archive to access longer time series based on the methodology prior to the 2019 benchmark revisions. The economy rebounded in the third quarter, growing 10.7% on a seasonally-adjusted quarter-on-quarter basis, after falling 11.8% in Q2 at the height of the pandemic. Accessed December 03, 2020. https://www.statista.com/statistics/525794/distribution-gross-domestic-product-gdp-across-different-economic-sectors-in-belgium/, Statbel. As a result, cumulative government debt reached 121% of GDP by the end of the 1980s. The figures are based on nominal GDP and GDP (PPP) … sector to the Belgian GDP and its positive effects on domestic employment are the result of a great number of key competitive advantages that Belgium has to offer, such as geographical location, infrastructure and accessibility. Definition: This entry shows where production takes place in an economy. Chart S1-2 shows the contribution of each sector to the annual nominal growth rate of euro area gross value added (GVA) at basic prices (which is equal to GDP at market prices minus taxes plus subsidies on products). Services sector is the leading sector in 201 countries/economies. Belgium gdp growth rate for 2018 was 1.49%, a 0.42% decline from 2017. Not a lot is exported, but chocolate and processed foods are some agriculture-related items that are exported. Agriculture, value added (% of GDP) Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Number of companies in France 2017, by number of employees, Number of companies created in France 2018, by business sector, Number of companies in France 2017, by size. Belgium is number one in the world in sales of chemicals and plastics per capita, ten percent of all chemical industry employees worldwide are in Belgium, and Flanders has Europe’s largest petrochemical cluster. Register in seconds and access exclusive features. Most of the agriculture in Belgium is used for the country itself. The agency revised data for the second quarter of 2020. Agriculture, Industry and Services sector is the largest sector of 9, 15 and 201 countries, respectively. This concerns 38 % compared to 30 % of the total working population aged 15 to 64. Gibraltar has 100% of gdp in services sector, other two sectors has zero output. ", Statbel, Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros) Statista, https://www.statista.com/statistics/525794/distribution-gross-domestic-product-gdp-across-different-economic-sectors-in-belgium/ (last visited December 03, 2020), Gross Domestic Product (GDP) in Belgium in 2018, by economic sector, Number of companies in France 2017, by business sector, Corporate pre-tax turnover of French companies 2016, by sector of activity, Net salary by business sector in France in 2016, Distribution of companies created in France 2012-2018, by legal status, Number of micro-businesses created in France 2018, by business line, Number of social and solidarity economy enterprises created in France 2017, Wish of French people to manage or to set up their own company 2018, Share of French people who want to create their own company 2018, by gender, Share of French people who want to create their own company 2018, by age, Breakdown of taxes on companies in France 2018, by type of tax, France: number of taxable companies for corporate taxes 2010-2018, France: number of companies paying VAT 2012-2018, Companies: time dedicated to administrative tasks 2017, by country, Level of entrepreneurial spirit in France 2018, Personal motivations of the French for being an entrepreneur 2011-2016, People entering entrepreneurship due to lack of jobs worldwide 2017, by country, Number of French entrepreneurs 2012, by status and gender, Income of business leaders in France 2012, by gender and company size, Average income of business leaders of large companies in 2015, by country, Mood of business leaders in France February 2019, Mood of business leaders in France February 2019, by business line, Mood of business leaders in France February 2019, by company size, Evaluation of the current situation by business leaders in France February 2019, Evaluation of executives on the current situation in France 2019, by company size, Evaluation on the current situation by executives in France 2019, by business line, Share of French business leaders who are worried or not about Brexit 2019, Ranking of the highest-earning CEOs in the world 2015, Share of companies planning to recruit worldwide 2017, by country, Hiring objectives of business leaders in France February 2020, Hiring objectives of business leaders in France February 2020, by business line, Hiring objectives of business leaders in France February 2020, by company size, Defects in a job application according to French recruiters 2016, Reasons for recruiting a candidate for a job in France 2016, Most important elements for an effective job offer in France 2016, Difficulties encountered by HR professionals when recruiting in France 2016, Employment in Italy 2018, by economic sector, Saudi Arabia's GDP by economic activity 2018, Monthly PPI for agriculture, forestry and fishing in Malaysia 2018-2019, Czech Republic: gross domestic product (GDP) per capita in PPS 2005-2017, GDP per capita index in Italy 2005-2025, by macro-region, Number of industrial parks in Vietnam 1991-2016, Leading 16 cities with the largest industrial added value in Italy 2008, Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, Trade, transport, hotels, restaurants and cafes. Na afloop van deze training: Corporate solution including all features. October 29, 2020. Learn more about how Statista can support your business. and over 1 Mio. The sectoral organisation Assuralia has reached an agreement on this issue, which was facilitated by the National Bank, with the backing of the FSMA and the Federal Government. As in many IEA member countries, a major challenge for Belgium is to decarbonise the economy while ensuring security of supply and affordability of energy. Profit from additional features by authenticating your Admin account. Belgium’s tax, labour, pension and education reforms have improved the potential for stronger, sustainable and inclusive growth over the long term. Then you will be able to mark statistics as favourites and use personal statistics alerts. The Belgian economy is largely oriented towards services. The gross value added of non-financial corporations delivers not only the largest contribution to GDP growth, but is also quite volatile. Please refer to the dataset Gross domestic product (GDP), 2019 archive to access longer time series based on the methodology prior to the 2019 benchmark revisions. Belgium gdp growth rate for 2016 was 1.48%, a 0.55% decline from 2015. Thematic data tables from WDI. The Gross Domestic Product (GDP) in Belgium was worth 529.61 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Belgium's agriculture sector is only about 1.3% of the GDP. Belgium: Economy recovers in Q3, but is likely to face headwinds in Q4. All Countries and Economies. SECTION 2 INDUSTRY 4.0 IN BELGIUM According to the latest OECD data, Belgium’s manufacturing is still picking up with rising production. Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros) [Graph]. Latest official GDP figures published by the World Bank. However, thanks to Belgiu… Services cover government activities, communications, transportation, finance, and all other private economic activities that do not produce material goods. Although Belgium is a wealthy country, public expenditures far exceeded income for many years, and taxes were not diligently pursued. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. Belgium gdp growth rate for 2017 was 1.90%, a 0.43% increase from 2016. Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. World's GDP is $80,934,771,028,340 (nominal, 2017).. See also: GDP per Capita The economy of Belgium is a modern, capitalist economy that has capitalised on the country's central geographic location, highly developed transport network, and diversified industrial and commercial base. Belgium GDP (Gross Domestic Product) was INT$482.95billion for 2019 in PPP terms. Economic Survey of Belgium 2020. Government Spending to GDP in Belgium averaged 54.24 percent from 1980 until 2019, reaching an all time high of 64 percent in 1983 and a record low of 48.60 percent in 2007. The Gross Domestic Product (GDP) in Netherlands was worth 909.07 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. A hard brexitwould also have a major impact on EU-27 Textiles industry with nearly 130 000 jobs lost. Source: CIA World Factbook - This page was last updated on Friday, November 27, 2020. Even this bleak outlook is subject to great uncertainty and significant downside risks. Gross Domestic Product of Belgium grew 10.7% in the second quarter of 2020 compared to the previous quarter. October 18, 2019. Belgium is the home to a number of international corporations and has outlets or subsidiaries of many multinational companies such as Ford, Volvo, and Renault. This feature is limited to our corporate solutions. GDP Growth Rate in 2017 was 1.73%, representing a change of 8,748,244,171 US$ over 2016, when Real GDP was $516,766,169,314. (billed annually). This is what emerged from the figures of Statbel, the Belgian statistical office, based on the Labour Force Survey 2019. Belgium has Europe’s eighth biggest chemical industry, generating five percent of the value created by the sector across the continent. Belgium ranked #4 for human development index amongst European Union in 2006. This rate is 225 -tenths of one percent higher than the figure of -11.8% published in the first quarter of 2020. DataBank. Industry includes mining, manufacturing, energy production, and construction. Factoid #147 France is the top destination in the world for tourists, accounting for 11 percent of all tourist arrivals worldwide. The year-on-year change in GDP was -5.1%, 88 -tenths of one percent more than the -13.9% recorded in the second quarter of 2020. Belgian economy and banking sector: national currency, GDP, inflation rate, unemployment rate, government bond yield, withholding tax rates, double taxation agreements, information exchange, FATCA, deposit guarantee, banking sector structure, deposit rates, major banks, banking products The distribution gives the percentage contribution of agriculture, industry , and services to total GDP, and will total 100 percent of GDP if the data are complete. In fact, some sectors of the Belgian economy have come to be dominated by foreign firms. "Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros)." Gross domestic product growth in Wales was 0.3% in Quarter 4 (Oct to Dec) 2018. Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Belgium economic outlook, debt to GDP ratio, international trade performance and population trends. Please create an employee account to be able to mark statistics as favorites. You only have access to basic statistics. In the third part, the analysis of the sector’s economic importance is supplemented by an analysis from Kennis over en handelen naar de GDP-verwachtingen is een noodzaak om binnen de farmaceutische industrie kwaliteitsvolle producten te kunnen afleveren.