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 (2016): Germany, Netherlands, and France
Top 3 Exported Goods (2016): Motor Vehicles & Parts, Pharmaceuticals, and Organic Chemicals

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) $540,867,259,900 (2017)
GDP Growth Rate (annual %) 1.73% (2017)
GDP Per Capita, PPP (current international) $47,561 (2017)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 38/195 (2017)

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 %) 1.972% (2016)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 57.1% (2017)
Real Interest Rate (5 year average %) 7.82% (2016)
Manufacturing, value added (% of GDP) 12.536% (2017)
Current Account Balance (BoP, current US$) ($790,377,072) (2017)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 5,011,369 (2017)
Employment in Agriculture (% of total employment) 1.27% (2017)
Employment in Industry (% of total employment) 21.343% (2017)
Employment in Services (% of total employment) 77.388% (2017)
Unemployment Rate 7.354% (2017)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $415,573,779,271 (2017)
Exports of goods and services (current US$) $419,041,673,054 (2017)
Total Merchandise Trade (% of GDP) 164.833% (2016)
FDI, net inflows (BoP, current US$) ($31,065,193,252) (2017)
Commercial Service Exports (current US$) $111,181,047,874 (2016)
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