According to publisher estimates, in 2022, financial intermediation, real estate and business activities contributed 30.8% towards GVA, followed by mining, manufacturing and utilities (17.7%), and wholesale, retail, hotels (12.7%). The three sectors are forecast to grow by 3.8%, 2.4%, and 4.1%, respectively, in 2023.
The Flemish region is among the best performing regions in Belgium. It contributed 59% of GDP and comprised 57.7% of the Belgian population in 2021, according to EuroStat.
The BEL20 Index exhibited a volatile trend over past year. As of February 14, 2023, the Index stood at 3,914.2, compared to 4,004.9 on February 14, 2022.
The Flemish region is among the best performing regions in Belgium. It contributed 59% of GDP and comprised 57.7% of the Belgian population in 2021, according to EuroStat.
The BEL20 Index exhibited a volatile trend over past year. As of February 14, 2023, the Index stood at 3,914.2, compared to 4,004.9 on February 14, 2022.
Scope
- As of June 2022, Belgium would receive EUR120 million ($126.4 million) from the European Union for infrastructure projects
Reasons to Buy
- Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
- PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
- Along with providing the country's snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
- This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies' presence in these areas.
Table of Contents
- List of Exhibits
- Did You Know?
- Country Highlights
- Key Economic Updates
- Country Snapshot
- Political Landscape
- Economic Landscape
- Social Landscape
- Technological Landscape
- Legal Landscape
- Environmental Landscape
- Outlook
Exhibit 1: Belgium’s performance in terms of its country risk analysis in comparison to West Europe and world average
Exhibit 2: Performance overview (score: 1-100)
Exhibit 3: Broad categories and weights behind the index
Exhibit 4: The Belgium stock market index
Exhibit 5: Belgium exchange rate (February 2022 to February 2023)
Exhibit 6: Key sectors’ contribution to the economy (2018-25f)
Exhibit 7: Direct investment flows in terms of assets and liabilities (Q3 2020 - Q3 2022) and FDI by sector (2018-21)
Exhibit 8: Direct investment inward income and stock by region (Q4 2021 - Q3 2022)
Exhibit 9: Key infrastructure indicators (2020)
Exhibit 10: Real GDP and household consumption growth rate (2018-25f)
Exhibit 11: Real GDP growth rate comparison (2022e)
Exhibit 12: Export and import of goods and services (2018-25f)
Exhibit 13: Current account balance (2018-25f)
Exhibit 14: Top three commodity exports, % of total exports (2018-21)
Exhibit 15: Electrical machinery and equipment, % of total exports (2021)
Exhibit 16: Interest rates (March 2019 - March 2023)
Exhibit 17: Exchange rate (2018-25f)
Exhibit 18: General government deficit (2018-25f)
Exhibit 19: General government debt (2018-25f)
Exhibit 20: Unemployment rate (2018-25f)
Exhibit 21: Average annual wages (2018-25f)
Exhibit 22: Labor cost index (2018-25f)
Exhibit 23: Rural/urban share of total population (1995, 2005, 2015, 2025f)
Exhibit 24: Age-group share of total population (1995, 2005, 2015, 2025f)
Exhibit 25: Gender split (1995, 2005, 2015, 2025f)
Exhibit 26: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022e)
Exhibit 27: Number of patents granted per million population (2021)
Exhibit 28: High-technology exports, % of manufactured exports (2021)
Exhibit 29: Rule of law (rankings), 2022
Exhibit 30: Corruption perceptions index (rankings) (2021)
Exhibit 31: Renewable energy capacity (2016-20)
Exhibit 32: CO2 emissions (2017-21)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Umicore
- KBC
- UCB
- Solvay
