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 (2018): Germany, Netherlands, and France
Top 3 Exported Goods (2018): Motor Vehicles & Parts, Pharmaceuticals, and Oil & Mineral Fuels

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) $597,433,148,966 (2018)
GDP Growth Rate (annual %) 1.458% (2018)
GDP Per Capita, PPP (current international) $52,254 (2018)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 34/196 (2018)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 1.437% (2019)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 55.4% (2019)
Real Interest Rate (5 year average %) 7.82% (2016)
Manufacturing, value added (% of GDP) 12.287% (2018)
Current Account Balance (BoP, current US$) ($5,250,876,554) (2018)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 5,100,709 (2019)
Employment in Agriculture (% of total employment) 0.961% (2019)
Employment in Industry (% of total employment) 20.844% (2019)
Employment in Services (% of total employment) 78.194% (2019)
Unemployment Rate 5.589% (2019)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $449,074,622,743 (2018)
Exports of goods and services (current US$) $448,188,985,266 (2018)
Total Merchandise Trade (% of GDP) 170.122% (2018)
FDI, net inflows (BoP, current US$) ($28,524,583,955) (2019)
Commercial Service Exports (current US$) $120,981,041,051 (2018)
Click on a row to display its 5-year graph on the right.

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.

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

Sources

  1. The World Bank