Belgium: Economy
Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developed |
Economic Trivia | Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. |
Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Netherlands, Germany, and France |
Top Industries Source: CIA World Factbook | Engineering and Metal Products; Motor Vehicle Assembly; Transportation Equipment; Scientific Instruments |
Gross Domestic Product (GDP) [1]
GDP, PPP (current international) | $758,832,506,308 (2022) |
GDP Growth Rate (annual %) | 3.248% (2022) |
GDP Per Capita, PPP (current international) | $65,027 (2022) |
GDP Country Rank 35/197 (2022)
Economic Indicators [1]
Inflation, consumer prices (annual %) | 9.598% (2022) |
External debt stocks, total (DOD, current US$) | Data unavailable |
Total tax rate (% of commercial profits) | 55.4% (2019) |
Real Interest Rate (5 year average %) | 7.82% (2016) |
Manufacturing, value added (% of GDP) | 12.607% (2022) |
Current Account Balance (BoP, current US$) | ($20,251,542,872) (2022) |
Labor and Employment [1]
Labor Force, Total | 5,350,607 (2022) |
Employment in Agriculture (% of total employment) | 0.935% (2021) |
Employment in Industry (% of total employment) | 19.371% (2021) |
Employment in Services (% of total employment) | 79.694% (2021) |
Unemployment Rate | 5.631% (2022) |
Trade [1]
Imports of goods and services (current US$) | $565,560,937,387 (2022) |
Exports of goods and services (current US$) | $551,574,450,680 (2022) |
Total Merchandise Trade (% of GDP) | 216.637% (2022) |
FDI, net inflows (BoP, current US$) | $9,792,975,251 (2022) |
Commercial Service Exports (current US$) | $136,812,663,836 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Belgium’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.