Belgium’s economic freedom score is 68.9, making its economy the 48th freest in the 2020 Index.
The latest value from 2024 is 1.36 percent. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus …

Its overall score has increased by 1.6 points, led by an increase in the government integrity score. … Annual percentage growth rate of GDP at market prices based on constant local currency. Growth is expected to be resilient in 2020, supported by strong domestic demand, particularly household consumption, which is set to accelerate amid low unemployment (5.5% in August 2019) and resulting wage increase. The average value for Belgium during that period was 1.8 percent with a minimum of -2.25 percent in 2009 and a maximum of 4.72 percent in 1988. GDP Growth Rate in Belgium averaged 0.53 percent from 1980 until 2020, reaching an all time high of 15.80 percent in the first quarter of 1995 and a record low of -3.60 percent in the first quarter of 2020. Since the Belgian economy is one of the most open economies of the eurozone, these are serious risks to its economy. An escalation of geographical tensions or a Grexit might harm economic growth in the rest of the eurozone, which is Belgium’s main trading partner. GDP Annual Growth Rate in Belgium averaged 2.25 percent from 1981 until 2020, reaching an all time high of 19.40 percent in the first quarter of 1995 and a record low of -3.60 percent in the first quarter of 2009. Belgium Real GDP Growth is at 1.30%, compared to 1.60% last quarter and 1.50% last year. For comparison, the world average in 2024 based on 185 countries is 3.37 percent. Economic growth has been steady, but remains below average euro area levels, and productivity growth has stagnated.
Belgium was among the 28 governments that founded the International Bank for Reconstruction and Development — the World Bank — on Dec. 31, 1945. If Belgium goes from a rate of 64.3% to one of 81.2%, as in Sweden, that would lead to an increase in GDP of nearly 13% or €65 billion. The Gross Domestic Product (GDP) in Belgium contracted 2.50 percent in the first quarter of 2020 over the same quarter of the previous year. Rising unemployment will weigh on private consumption, while capital spending will fall amid depressed sentiment and the uncertain length of the pandemic. Though Belgium real GDP growth fluctuated substantially in recent years, it tended to decrease through 1999 - 2018 period ending at 1.4 % in 2018. The latest OECD Economic Survey of Belgium notes that robust job creation, albeit mostly in low-wage industries, has led to the unemployment rate falling to a historic low. Today, Belgium is a member of the five institutions that form the World Bank Group. The policy interventions of the various Belgian governments, including wage moderation, the tax shift and labour market reforms, are moreover having a more visible positive effect on the economy. This is lower than the long term average of 1.85%. In 2018, real GDP growth for Belgium was 1.4 %. A European atlas of economic success and failure Economic growth was diverse across EU regions, yet it is crucial to control for region-specific factors in assessing growth performance. Belgium Economic Growth The economy is seen contracting this year as Europe battles Covid-19.


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