Belgium's gross domestic product shrank 4.8 percent year-on-year in the fourth quarter of 2020, following a downwardly revised 4.3 percent contraction in Q3, a preliminary estimate showed. Considering the whole 2020, the economy contracted 6.2 percent, a decline more than three times as big as that seen during the great recession (-2 percent) in 2009 and after a 1.7 percent expansion in 2019. source: National Bank of Belgium
GDP Annual Growth Rate in Belgium averaged 2.08 percent from 1981 until 2020, reaching an all time high of 19.40 percent in the first quarter of 1995 and a record low of -13.90 percent in the second quarter of 2020. This page provides - Belgium GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belgium GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
GDP Annual Growth Rate in Belgium is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Belgium to stand at 3.20 in 12 months time. In the long-term, the Belgium GDP Annual Growth Rate is projected to trend around 2.20 percent in 2022, according to our econometric models.