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Belgium
Belgium
HistorySaid – pattern
Belgium matched the Export Boom Cycle pattern in 2021. 4 pattern matches detected historically. View →
HistorySaid – ranking
Belgium ranks 169th globally by GDP ($671.4B in 2024). View →
HistorySaid – inflation
Inflation in Belgium fell from 4.0% (2023) to 3.1% (2024) – a 0.9pp shift. View →
HistorySaid – population
Belgium has a population of 11.9 million as of 2024 (growth: 0.67%). View →
Economy & Growth
GDP $671.4B
GDP per Capita $56,615
GDP Growth 1.07%
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Agriculture Value Added | 0.67% | 0.77% | 0.79% | 0.80% Trend | 0.83% Trend | 0.86% Trend | – | – | – |
| GDP | $591.1B | $651.3B | $671.4B | $717.0B IMF WEO Oct 2025 | $761.2B IMF WEO Oct 2025 | $780.4B IMF WEO Oct 2025 | $802.0B IMF WEO Oct 2025 | $824.3B IMF WEO Oct 2025 | $849.3B IMF WEO Oct 2025 |
| GDP Deflator | 6.70% | 5.51% | 1.88% | 4.69% Trend | 5.03% Trend | 5.37% Trend | – | – | – |
| GDP Growth | 3.96% | 1.71% | 1.07% | 1.07% IMF WEO Oct 2025 | 0.98% IMF WEO Oct 2025 | 1.26% IMF WEO Oct 2025 | 1.20% IMF WEO Oct 2025 | 1.26% IMF WEO Oct 2025 | 1.29% IMF WEO Oct 2025 |
| GDP PPP | $807.4B | $847.5B | $871.8B | $900.5B IMF WEO Oct 2025 | $925.7B IMF WEO Oct 2025 | $953.1B IMF WEO Oct 2025 | $980.1B IMF WEO Oct 2025 | $1.01T IMF WEO Oct 2025 | $1.04T IMF WEO Oct 2025 |
| GDP per Capita | $50,606 | $55,291 | $56,615 | $60,418 IMF WEO Oct 2025 | $63,896 IMF WEO Oct 2025 | $65,275 IMF WEO Oct 2025 | $66,859 IMF WEO Oct 2025 | $68,506 IMF WEO Oct 2025 | $70,370 IMF WEO Oct 2025 |
| GDP per Capita PPP | $69,128 | $71,946 | $73,514 | $75,882 IMF WEO Oct 2025 | $77,705 IMF WEO Oct 2025 | $79,718 IMF WEO Oct 2025 | $81,707 IMF WEO Oct 2025 | $83,925 IMF WEO Oct 2025 | $86,347 IMF WEO Oct 2025 |
| GNI | $599.1B | $663.0B | $682.3B | $722.8B Trend | $758.0B Trend | $793.3B Trend | – | – | – |
| GNI per Capita | $54,330 | $55,520 | $55,290 | $59,212 Trend | $61,442 Trend | $63,672 Trend | – | – | – |
| Gross Savings | 25.25% | 25.38% | 24.12% | 22.87% IMF WEO Oct 2025 | 22.78% IMF WEO Oct 2025 | 22.90% IMF WEO Oct 2025 | 23.22% IMF WEO Oct 2025 | 23.37% IMF WEO Oct 2025 | 23.51% IMF WEO Oct 2025 |
| Industry Value Added | 20.00% | 19.47% | 18.74% | 19.29% Trend | 19.37% Trend | 19.45% Trend | – | – | – |
| Services Value Added | 69.47% | 70.26% | 70.99% | 70.60% Trend | 70.68% Trend | 70.76% Trend | – | – | – |
Italic values are IMF World Economic Outlook projections.
Prices & Inflation
Inflation Rate 3.14%
Consumer Price Index 142.15
PPP Conversion Factor 0.70
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Consumer Price Index | 132.46 | 137.82 | 142.15 | 149.85 Trend | 156.38 Trend | 162.91 Trend | – | – | – |
| Inflation Rate | 9.60% | 4.05% | 3.14% | 2.57% IMF WEO Oct 2025 | 1.27% IMF WEO Oct 2025 | 1.88% IMF WEO Oct 2025 | 2.00% IMF WEO Oct 2025 | 1.91% IMF WEO Oct 2025 | 1.88% IMF WEO Oct 2025 |
| PPP Conversion Factor | 0.70 | 0.70 | 0.70 | 0.70 Trend | 0.69 Trend | 0.69 Trend | – | – | – |
Italic values are IMF World Economic Outlook projections.
Population
Population 11.9M
Population Growth 0.67%
Population Density 386.3
▾
| Indicator | 2023 | 2024 | 2025 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|
| Birth Rate | 9.4 | – | – | 9.2 Trend | 9.1 Trend | – | – |
| Death Rate | 9.4 | – | – | 9.4 Trend | 9.3 Trend | – | – |
| Dependency Ratio | 57.32 | 57.61 | – | 57.97 Trend | 58.30 Trend | 58.64 Trend | – |
| Fertility Rate | 1.47 | – | – | 1.44 Trend | 1.41 Trend | – | – |
| Life Expectancy | 82.4 | – | – | 82.5 Trend | 82.7 Trend | – | – |
| Net Migration | 41,679 | 36,243 | 31,989 | – | 30,580 Trend | 23,937 Trend | 17,295 Trend |
| Population | 11.8M | 11.9M | – | 11.9M Trend | 12.0M Trend | 12.1M Trend | – |
| Population Density | 386.3 | – | – | 390.4 Trend | 392.8 Trend | – | – |
| Population Growth | 0.85% | 0.67% | – | 0.91% Trend | 1.00% Trend | 1.09% Trend | – |
| Refugee Population | – | – | – | – | – | – | – |
| Urban Population | 87.55% | 87.61% | – | 87.70% Trend | 87.78% Trend | 87.85% Trend | – |
Italic values are IMF World Economic Outlook projections.
Employment
Unemployment Rate 5.91%
Youth Unemployment 17.78%
Labor Force Participation 54.27%
▾
| Indicator | 2023 | 2024 | 2025 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Agriculture Employment | 1.09% | 1.01% | 0.98% | – | 0.97% Trend | 0.94% Trend | 0.91% Trend | – | – |
| Female Labor Participation | 49.83% | 49.97% | 49.78% | – | 50.03% Trend | 50.10% Trend | 50.18% Trend | – | – |
| Industry Employment | 20.15% | 19.52% | 19.25% | – | 19.24% Trend | 19.04% Trend | 18.85% Trend | – | – |
| Labor Force Participation | 54.41% | 54.54% | 54.27% | – | 54.49% Trend | 54.53% Trend | 54.58% Trend | – | – |
| Services Employment | 78.77% | 79.47% | 79.77% | – | 79.79% Trend | 80.02% Trend | 80.24% Trend | – | – |
| Unemployment Rate | 5.55% | 5.70% | 5.91% | 6.10% IMF WEO Oct 2025 | 6.20% IMF WEO Oct 2025 | 6.10% IMF WEO Oct 2025 | 6.00% IMF WEO Oct 2025 | 5.90% IMF WEO Oct 2025 | 5.80% IMF WEO Oct 2025 |
| Youth Unemployment | 16.12% | 17.34% | 17.78% | – | 17.19% Trend | 17.20% Trend | 17.21% Trend | – | – |
Italic values are IMF World Economic Outlook projections.
Government
Tax Revenue 22.80%
Government Spending 39.74%
Military Spending 1.28%
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Budget Deficit | -3.62% | -4.10% | -4.52% | -5.53% IMF WEO Oct 2025 | -5.48% IMF WEO Oct 2025 | -5.61% IMF WEO Oct 2025 | -5.86% IMF WEO Oct 2025 | -6.14% IMF WEO Oct 2025 | -6.40% IMF WEO Oct 2025 |
| Education Spending | – | – | – | – | – | – | – | – | – |
| Government Debt to GDP | 102.70% | 103.25% | 104.71% | 107.50% IMF WEO Oct 2025 | 110.57% IMF WEO Oct 2025 | 113.32% IMF WEO Oct 2025 | 116.34% IMF WEO Oct 2025 | 119.53% IMF WEO Oct 2025 | 122.63% IMF WEO Oct 2025 |
| Government Revenue | 48.64% | 49.20% | 49.97% | 49.72% IMF WEO Oct 2025 | 49.61% IMF WEO Oct 2025 | 49.50% IMF WEO Oct 2025 | 49.53% IMF WEO Oct 2025 | 49.63% IMF WEO Oct 2025 | 49.71% IMF WEO Oct 2025 |
| Government Spending | 39.74% | – | – | 41.63% Trend | – | – | – | – | – |
| Health Spending | 10.74% | 10.80% | – | 10.70% Trend | 10.61% Trend | – | – | – | – |
| Military Spending | 1.16% | 1.18% | 1.28% | 1.34% Trend | 1.41% Trend | 1.48% Trend | – | – | – |
| Tax Revenue | 22.80% | – | – | 21.98% Trend | – | – | – | – | – |
Italic values are IMF World Economic Outlook projections.
Debt
▾
| Indicator | 2020 | 2021 | 2022 | 2025 |
|---|---|---|---|---|
| Debt Service | – | – | – | – |
| Domestic Credit | – | – | – | – |
| External Debt | – | – | – | – |
| External Debt to GNI | – | – | – | – |
| Interest Payments to Revenue | 4.58% | 3.80% | 3.31% | 2.38% Trend |
| Short-term Debt | – | – | – | – |
Italic values are IMF World Economic Outlook projections.
Money
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| Credit to GDP | 72.60% | 69.28% | 68.10% | 65.71% Trend | 63.56% Trend | 61.41% Trend |
| Deposit Rate | – | – | – | – | – | – |
| Lending Rate | – | – | – | – | – | – |
| M2 Money Supply Growth | – | – | – | – | – | – |
| Non-Performing Loans | 1.84% | 1.82% | – | 1.66% Trend | 1.59% Trend | – |
| Real Interest Rate | – | – | – | – | – | – |
Italic values are IMF World Economic Outlook projections.
Currency
Exchange Rate 0.92
Real Effective Exchange Rate 105.00
Foreign Reserves $41.4B
▾
| Indicator | 2024 | 2025 | 2026 | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|---|---|---|
| Exchange Rate | 0.92 | – | – | 0.96 Trend | 0.97 Trend | 0.99 Trend | – | – |
| Foreign Reserves | $41.4B | – | – | $44.3B Trend | $45.8B Trend | $47.4B Trend | – | – |
| Real Effective Exchange Rate | 103.68 | 102.64 | 105.00 | – | – | 105.35 Trend | 106.14 Trend | 106.92 Trend |
| Reserves in Months of Imports | 0.8 | – | – | 0.7 Trend | 0.7 Trend | 0.7 Trend | – | – |
Italic values are IMF World Economic Outlook projections.
Trade
Exports $532.0B
Imports $534.6B
Trade Balance $-2.6B
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Current Account Balance | -1.82% | 0.18% | -0.38% | -0.91% IMF WEO Oct 2025 | -0.93% IMF WEO Oct 2025 | -0.93% IMF WEO Oct 2025 | -0.60% IMF WEO Oct 2025 | -0.36% IMF WEO Oct 2025 | -0.19% IMF WEO Oct 2025 |
| Exports | $557.9B | $538.8B | $532.0B | $585.1B Trend | $607.9B Trend | $630.7B Trend | – | – | – |
| FDI Inflows | 2.22% | -0.65% | -6.16% | -3.10% Trend | -3.83% Trend | -4.56% Trend | – | – | – |
| FDI Outflows | 5.80% | -1.64% | 0.70% | 1.40% Trend | 1.10% Trend | 0.80% Trend | – | – | – |
| Imports | $570.4B | $540.4B | $534.6B | $594.7B Trend | $620.8B Trend | $646.9B Trend | – | – | – |
| Remittances Received | $14.0B | $14.6B | $15.5B | $15.8B Trend | $16.3B Trend | $16.9B Trend | – | – | – |
| Tourism Receipts | – | – | – | – | – | – | – | – | – |
| Trade Balance | $-13.8B | $-2.3B | $-2.6B | $-10.2B Trend | $-13.6B Trend | $-17.0B Trend | – | – | – |
| Trade Openness | 191.18% | 165.85% | 158.93% | 167.79% Trend | 167.03% Trend | 166.27% Trend | – | – | – |
Italic values are IMF World Economic Outlook projections.
Financial Markets
Market Capitalization 59.17%
Stock Turnover Ratio 28.33%
Listed Companies 117
▾
| Indicator | 2016 | 2017 | 2018 |
|---|---|---|---|
| Interest Rate Spread | – | – | – |
| Listed Companies | – | – | – |
| Market Capitalization | 79.73% | 87.40% | 59.17% |
| Stock Turnover Ratio | – | – | – |
Italic values are IMF World Economic Outlook projections.
Political Stability
Political Stability 0.40
Government Effectiveness 1.04
Regulatory Quality 1.17
▾
| Indicator | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Control of Corruption | 1.46 | 1.49 | 1.34 | 1.37 Trend | 1.35 Trend |
| Government Effectiveness | 1.09 | 1.23 | 1.04 | 1.11 Trend | 1.11 Trend |
| Political Stability | 0.66 | 0.58 | 0.40 | 0.51 Trend | 0.50 Trend |
| Regulatory Quality | 1.33 | 1.25 | 1.17 | 1.15 Trend | 1.12 Trend |
| Rule of Law | 1.29 | 1.35 | 1.30 | 1.30 Trend | 1.29 Trend |
| Voice and Accountability | 1.27 | 1.30 | 1.33 | 1.32 Trend | 1.32 Trend |
Italic values are IMF World Economic Outlook projections.
Health
Health Expenditure per Capita $5,931
Infant Mortality Rate 3.0
Maternal Mortality Ratio 4.00
▾
| Indicator | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Health Expenditure per Capita | $5,847 | $5,488 | $5,931 | $6,287 Trend | $6,477 Trend |
| Hospital Beds | 5.50 | 5.46 | 5.42 | 5.35 Trend | 5.31 Trend |
| Infant Mortality Rate | 3.2 | 3.1 | 3.0 | 2.9 Trend | 2.8 Trend |
| Maternal Mortality Ratio | 7.00 | 11.00 | 4.00 | 8.80 Trend | 9.50 Trend |
| Physicians | 3.54 | 3.57 | – | 3.75 Trend | – |
Italic values are IMF World Economic Outlook projections.
Education
Tertiary Enrollment 82.15%
Education Spending 6.28%
▾
| Indicator | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Education Spending | 6.38% | 6.28% | – | 6.34% Trend | – |
| Literacy Rate | – | – | – | – | – |
| Primary Enrollment | 101.82% | 102.18% | 102.11% | 102.08% Trend | 102.08% Trend |
| Tertiary Enrollment | 82.69% | 83.57% | 82.15% | 85.35% Trend | 86.32% Trend |
Italic values are IMF World Economic Outlook projections.
Energy
Renewable Energy 11.70%
▾
| Indicator | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| CO2 Emissions | – | – | – | – | – |
| CO2 per Capita | – | – | – | – | – |
| Electricity Access | 100.00% | 100.00% | 100.00% | 100.00% Trend | 100.00% Trend |
| Energy Use per Capita | 4,824 | 4,368 | 4,051 | 3,894 Trend | 3,747 Trend |
| Forest Area | 22.60% | 22.60% | 22.60% | 22.60% Trend | 22.60% Trend |
| Renewable Energy | 11.70% | – | – | – | – |
Italic values are IMF World Economic Outlook projections.
Technology
Internet Users 95.78%
Mobile Subscriptions 103.20
R&D Spending 3.41%
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| High-tech Exports | 22.82% | 18.67% | 19.58% | 21.32% Trend | 21.91% Trend | 22.50% Trend |
| Internet Users | 94.01% | 94.63% | 95.78% | 96.85% Trend | 97.88% Trend | 98.91% Trend |
| Mobile Subscriptions | 101.68 | 103.20 | – | 104.42 Trend | 105.20 Trend | – |
| Patent Applications | – | – | – | – | – | – |
| R&D Spending | 3.41% | – | – | 3.90% Trend | – | – |
Italic values are IMF World Economic Outlook projections.
Inequality
Gini Index 26.8
Poverty Rate 0.10%
Income Share Top 10% 22.20%
▾
| Indicator | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Gini Index | 26.6 | 26.4 | 26.8 | 26.4 Trend | 26.4 Trend |
| Income Share Bottom 10% | 3.60% | 3.80% | 3.70% | 3.80% Trend | 3.83% Trend |
| Income Share Top 10% | 21.90% | 22.20% | 22.20% | 22.24% Trend | 22.30% Trend |
| Poverty Rate | 0.00% | 0.00% | 0.10% | 0.02% Trend | 0.01% Trend |
Italic values are IMF World Economic Outlook projections.