Economy of Belgium
Population: 11.42 M (2018)
GDP per Capita: 47,519 USD (2018)
542,760 M.

GDP USD

(2018)

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448,190 M.

EXPORTS USD

(2018)

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449,070 M.

IMPORTS USD

(2018)

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98.60 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 1.46 % (2018)
GDP of 2010 USD USD 538.70 B. (2018)
GDP Current USD USD 542.76 B. (2018)
GDP per Capita Current USD USD 47,519 (2018)
GDP per capita, PPP USD 43,582 (2018)
GDP per Capita, 2010 USD USD 47,166 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 23.07 % (2018)
Government Spending USD 125.23 B. (2018)
Government Debt % GDP 98.60 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 120.37 (2018)
Trade Openness 165.31 % (2018)
Exports of Goods and Services % GDP 82.58 % (2018)
Exports Goods & Services USD 448.19 B. (2018)
Exports Annual Growth 1.21 % (2018)
Imports as % GDP 82.74 % (2018)
Total Imports USD 449.07 B. (2018)
Foreign Direct Investment % GDP 12.09 % (2016)
Foreign Direct Investment USD 44.46 B. (2016)
Current Account Balance % GDP USD -0.97 % (2018)
Current Account Balance USD -5.25 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD -0.79 B. (2018)
Foreign Exchange Reserves incl Gold USD 26.86 B. (2018)
Remittances % GDP 2.12 % (2018)
Remittances USD 266 M. (2018)
Balance of Payments USD 1,768 M. (2015)

Labor Market

Indicator Value
Labor Force 5.06 M. (2019)
Unemployment Rate 6.44 % (2019)
Unemployment Rate Females 5.14 % (2019)
Unemployment Rate Males 5.98 % (2019)
Youth Unemployment (ages 15-24) 17.85 % (2019)
Labor Force Participation Rate 53.15 % (2019)
Labor Force (Percent Female) 46.21 % (2019)
Female Labor Force Participation Rate 47.87 % (2019)
Male Labor Force Participation Rate 58.63 % (2019)
Dependent People 55.87 % (2018)

Agriculture Sector

Indicator Value
Forest Area 22.60 % (2016)
Forest Area km² 6,838 km² (2016)
Agricultural Land 44.61 % (2016)
Agricultural Land km² 13,508 km² (2016)
Employment 1.14 % (2019)
Value added % GDP 0.50 % (2018)
Agriculture Value added USD 2.71 B. (2018)
Crop Production Index 88.70 (2016)
Precipitation 847 mm (2014)
Arable Land 28 % (2016)
Cereal Yield 9,051 kg/hectare (2017)
Food production index 85 (2016)
Rural Population 2 % (2018)
Fertilizer use of Arable Land 319 kg/hectare (2016)
Livestock Production Index 81 (2016)
Economy of Belgium

According to the World Bank and its latest published data, the economy of the Belgium presents a growth rate of 1.46 % (2018) to the previous year.

With a population that reaches 11.42 M (2018) and a gross domestic product of USD 542.76 B. (2018), it translates a Gross Domestic Product per Capita of USD 47,519 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Belgium also has a workforce of 5.06 M. (2019) with an unemployment rate of 6.44 % (2019), where women represent 5.14 % (2019) and men 5.98 % (2019), the unemployment rate for young people between 15-24 years old stood at 17.85 % (2019). The total number of dependent people stands at 55.87 % (2018).

The central government spent 23.07 % (2018) of its gross domestic product that year, which in absolute terms is USD 125.23 B. (2018). Its consolidated public debt reached 98.60 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Belgium exported USD 448.19 B. (2018), which represents 82.58 % (2018) of its gross domestic product, in that same sense its imports reached USD 449.07 B. (2018) with a direct foreign investment of USD 44.46 B. (2016).

Belgium has a forest area of 6,838 km² (2016), which represents 22.60 % (2016) of its total area, an average rainfall of 847 mm (2014) per year and a population of 2 % (2018) living in rural areas. With a total area of 13,508 km² (2016) available for agriculture and 1.14 % (2019) of its employments, the agricultural sector contributes to the economy of the Belgium about USD 2.71 B. (2018) (0.50 % (2018) of its GDP).