Belgium: Economy

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 (2014): Netherlands, Germany, and France
Top 3 Exported Goods (2014): Oil & Mineral Fuels, Pharmaceuticals, and Motor Vehicles & Parts

Top Industries Source: CIA World Factbook

Engineering and Metal Products; Motor Vehicle Assembly; Transportation Equipment; Scientific Instruments

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $487,824,567,598 (2014)
GDP Growth Rate (annual %) 1.348% (2014)
GDP Per Capita, PPP (current international) $43,435 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 37/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 0.34% (2014)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 58.4% (2015)
Real Interest Rate (5 year average %) 8.268% (2009)
Manufacturing, value added (% of GDP) 13.768% (2014)
Current Account Balance (BoP, current US$) ($1,187,871,400) (2014)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 4,975,258 (2014)
Employment in Agriculture (% of total employment) 1.1% (2014)
Employment in Industry (% of total employment) 21.5% (2014)
Employment in Services (% of total employment) 77.4% (2014)
Unemployment Rate 8.5% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $441,572,810,802 (2014)
Exports of goods and services (current US$) $446,311,903,724 (2014)
Total Merchandise Trade (% of GDP) 173.807% (2014)
FDI, net inflows (BoP, current US$) ($20,097,448,811) (2014)
Commercial Service Exports (current US$) $121,977,074,639 (2014)
Click on a row to display its 5-year graph on the right.

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.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary