Belgium ranked first for trade balance with US per million amongst Cold countries in 2003. Kennis over en handelen naar de GDP-verwachtingen is een noodzaak om binnen de farmaceutische industrie kwaliteitsvolle producten te kunnen afleveren. In consequence, from 2013 to 2014, Belgium’s general government gross debt-according to the System of National Accounts definition-as percentage of GDP further augmented by 12.1 percentage points from 117.6% to 129.7%, the fourth highest increase for countries with available information. Luxembourg ranked first for GDP > composition by sector > services amongst High income OECD countries in 2007. As a result, cumulative government debt reached 121% of GDP by the end of the 1980s. October 18, 2019. Please note that OECD reference year from 2010 to 2015 changed on Tuesday 3rd of December, 2019. The sectoral organisation Assuralia has reached an agreement on this issue, which was facilitated by the National Bank, with the backing of the FSMA and the Federal Government. Agriculture, Industry and Services sector is the largest sector of 9, 15 and 201 countries, respectively. The Food sector is the most heavily affected sector in Belgium with job losses amounting up to 45 00 jobs. Profit from additional features by authenticating your Admin account. WDI Tables. facts. Country. A downside risk to our forecast is that being export-oriented, Belgium is exposed to swings in external demand. Belgium ranked #4 for human development index amongst European Union in 2006. Belgian economy and banking sector: national currency, GDP, inflation rate, unemployment rate, government bond yield, withholding tax rates, double taxation agreements, information exchange, FATCA, deposit guarantee, banking sector structure, deposit rates, major banks, banking products Projections for Belgium: summary of the main results Facts and statistics about the GDP - composition by sector of Belgium. Even this bleak outlook is subject to great uncertainty and significant downside risks. The economy rebounded in the third quarter, growing 10.7% on a seasonally-adjusted quarter-on-quarter basis, after falling 11.8% in Q2 at the height of the pandemic. Belgium gdp growth rate for 2018 was 1.49%, a 0.42% decline from 2017. Also in Ireland, Poland, the Netherlands and Denmark this sector will be significantly hit. Learn more about how Statista can support your business. This is what emerged from the figures of Statbel, the Belgian statistical office, based on the Labour Force Survey 2019. the last decades, added value of the manufacturing industry to the Belgian GDP continued to slip. Statista. Gross Domestic Product of Belgium grew 10.7% in the second quarter of 2020 compared to the previous quarter. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Number of companies in France 2017, by number of employees, Number of companies created in France 2018, by business sector, Number of companies in France 2017, by size. The economy rebounded in the third quarter, growing 10.7% on a seasonally-adjusted quarter-on-quarter basis, after falling 11.8% in Q2 at the height of the pandemic. GDP (Nominal) and GDP (PPP) of european countries by IMF. According to a study commissioned by the Government on the immediate effects on the economy, in the months following the attacks, the unemployment rate in the catering sector grew by 186% and in the hospitality industry by 157%. However, 2017 was the strongest year since 2010 as far as manufacturing added value is concerned. Then you will be able to mark statistics as favourites and use personal statistics alerts. Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros) [Graph]. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. You only have access to basic statistics. Economic Survey of Belgium 2020. 30 countries receive more than 80 percent of their GDP from services sector. Belgium - Belgium - Economy: Belgium has a free-enterprise economy, with the majority of the gross domestic product (GDP) generated by the service sector. Roughly three-quarters of Belgium's trade is with other EU countries, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU. Data Source: World Bank MLA Citation: GDP Growth Rate in 2017 was 1.73%, representing a change of 8,748,244,171 US$ over 2016, when Real GDP was $516,766,169,314. Chart S1-2 shows the contribution of each sector to the annual nominal growth rate of euro area gross value added (GVA) at basic prices (which is equal to GDP at market prices minus taxes plus subsidies on products). A hard brexitwould also have a major impact on EU-27 Textiles industry with nearly 130 000 jobs lost. Brussels, the hub of several European institutions, numerous diplomatic representations and different interest groups, has essentially based its economy … Belgium since the end of the Great Recession Belgium's services: had a negative growth (decline) of 0.39% since the end of the Great Recession click on the following link to view a complete list of countries by GDP decomposition by sector sector to the Belgian GDP and its positive effects on domestic employment are the result of a great number of key competitive advantages that Belgium has to offer, such as geographical location, infrastructure and accessibility. The Belgian economy, as any modern industrialized economy, is characterized by the growing importance of services However, the manufacturing industry is still key to the Belgian economy It is a quintessential “small open economy”: Small, with a Gross Domestic Product (GDP) of €395 billion (current prices) in 2013, representing 3% of the total GDP of the European Union’s 28 countries Bermuda ranked first for GDP > composition by sector > services amongst Latin America and Caribbean in 2012. Read more. Belgium has excellent gas transport infrastructure, and its gas market is well-integrated with those of its neighbours. and over 1 Mio. While GDP is the single most important indicator to capture economic activity, it falls short of providing a suitable measure of people's material well-being for which alternative indicators may be more appropriate. Not a lot is exported, but chocolate and processed foods are some agriculture-related items that are exported. Agriculture, value added (% of GDP) Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Estimates of quarterly GDP in the English regions and Wales are published here for the first time, alongside data previously published by the Scottish Government and the Northern Ireland Statistics and Research Agency (NISRA). Agriculture, value added (% of GDP) Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Belgium: Economy recovers in Q3, but is likely to face headwinds in Q4. Latest official GDP figures published by the World Bank. The Gross Domestic Product (GDP) in Belgium was worth 529.61 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. New, Everything you need to know about the industry development, Find studies from all around the internet. The economy rebounded in the third quarter, growing 10.7% on a seasonally-adjusted quarter-on-quarter basis, after falling 11.8% in Q2 at the height of the pandemic. Belgium ranked #13 for GDP amongst Europe in 2012. October 29, 2020. Belgium is the home to a number of international corporations and has outlets or subsidiaries of many multinational companies such as Ford, Volvo, and Renault. According to the report, the surge in the number of migrants, during the past five years, has boosted the gross domestic product (GDP) in Belgium by 3.5 per cent, SchengenVisaInfo.com reports. World's GDP is $80,934,771,028,340 (nominal, 2017).. See also: GDP per Capita Chad has lowest 27% contribution by services sector in its economy. A possibility of even worse outcomes. The vast majority of investment in the EU-27 was made by the private sector, as can be seen from Table 5: in 2019, investment by businesses and households accounted for 19.4 % of the EU-27’s GDP, whereas the equivalent figure for public sector investment was 3.0 %. The economy rebounded in the third quarter, growing 10.7% on a seasonally-adjusted quarter-on-quarter basis, after falling 11.8% in Q2 at the height of the pandemic. The year-on-year change in GDP was -5.1%, 88 -tenths of one percent more than the -13.9% recorded in the second quarter of 2020. The economy of Belgium is a modern, capitalist economy that has capitalised on the country's central geographic location, highly developed transport network, and diversified industrial and commercial base. Djibouti ranked first for GDP > composition by sector > services amongst Sub-Saharan Africa in 2012. Share of voice of media in Belgium 2017, by sector Share of economic sectors in GDP in Belize 2019 Share of economic sectors in the GDP in Trinidad and Tobago 2018 Online tool for visualization and analysis. Thematic data tables from WDI. Gross domestic product growth in Wales was 0.3% in Quarter 4 (Oct to Dec) 2018. Public expenditure on family by type of expenditure (cash and in kind), in % GDP Public expenditure on old-age and survivors cash benefits, in % GDP Social Expenditure - Detailed data Register in seconds and access exclusive features. In, Statbel. Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Belgium economic outlook, debt to GDP ratio, international trade performance and population trends. Government spending in Belgium was last recorded at 52.2 percent of GDP in 2019 . Belgium: Economy recovers in Q3, but is likely to face headwinds in Q4. It is a quintessential ^small open economy _: ^small _, with a gross domestic product (GDP) of 410.3 billion euro in 2015, accounting for 3% of the total GDP of the European Union and open _ with a level of openness3 of 82% in 2015. These indirect effects are estimated via two variables: employment and value added. Belgium ranked 7th last for GDP > composition by sector > industry amongst High income OECD countries in 2012. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. 1.3.1 A Gateway to Europe Services sector is the leading sector in 201 countries/economies. ", Statbel, Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros) Statista, https://www.statista.com/statistics/525794/distribution-gross-domestic-product-gdp-across-different-economic-sectors-in-belgium/ (last visited December 03, 2020), Gross Domestic Product (GDP) in Belgium in 2018, by economic sector, Number of companies in France 2017, by business sector, Corporate pre-tax turnover of French companies 2016, by sector of activity, Net salary by business sector in France in 2016, Distribution of companies created in France 2012-2018, by legal status, Number of micro-businesses created in France 2018, by business line, Number of social and solidarity economy enterprises created in France 2017, Wish of French people to manage or to set up their own company 2018, Share of French people who want to create their own company 2018, by gender, Share of French people who want to create their own company 2018, by age, Breakdown of taxes on companies in France 2018, by type of tax, France: number of taxable companies for corporate taxes 2010-2018, France: number of companies paying VAT 2012-2018, Companies: time dedicated to administrative tasks 2017, by country, Level of entrepreneurial spirit in France 2018, Personal motivations of the French for being an entrepreneur 2011-2016, People entering entrepreneurship due to lack of jobs worldwide 2017, by country, Number of French entrepreneurs 2012, by status and gender, Income of business leaders in France 2012, by gender and company size, Average income of business leaders of large companies in 2015, by country, Mood of business leaders in France February 2019, Mood of business leaders in France February 2019, by business line, Mood of business leaders in France February 2019, by company size, Evaluation of the current situation by business leaders in France February 2019, Evaluation of executives on the current situation in France 2019, by company size, Evaluation on the current situation by executives in France 2019, by business line, Share of French business leaders who are worried or not about Brexit 2019, Ranking of the highest-earning CEOs in the world 2015, Share of companies planning to recruit worldwide 2017, by country, Hiring objectives of business leaders in France February 2020, Hiring objectives of business leaders in France February 2020, by business line, Hiring objectives of business leaders in France February 2020, by company size, Defects in a job application according to French recruiters 2016, Reasons for recruiting a candidate for a job in France 2016, Most important elements for an effective job offer in France 2016, Difficulties encountered by HR professionals when recruiting in France 2016, Employment in Italy 2018, by economic sector, Saudi Arabia's GDP by economic activity 2018, Monthly PPI for agriculture, forestry and fishing in Malaysia 2018-2019, Czech Republic: gross domestic product (GDP) per capita in PPS 2005-2017, GDP per capita index in Italy 2005-2025, by macro-region, Number of industrial parks in Vietnam 1991-2016, Leading 16 cities with the largest industrial added value in Italy 2008, Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, Trade, transport, hotels, restaurants and cafes. New, Figures and insights about the advertising and media world, Industry Outlook $39 per month* Main points. Exports of goods and services (% of GDP) World Bank national accounts data, and OECD National Accounts data files. Then you can access your favorite statistics via the star in the header. Belgium ranked second last for GDP > composition by sector > agriculture amongst European Union in 2012. The gross value added of non-financial corporations delivers not only the largest contribution to GDP growth, but is also quite volatile. Read more. The figures are based on nominal GDP and GDP (PPP) estimates and sector composition ratios provided by the CIA World Factbook at market or government ... Belgium: 529,200: 0.7%: 22.1%: Chart. October 9, 2020 Belgium: Economy recovers in Q3, but is likely to face headwinds in Q4. Data source is CIA Factbook. We expect real GDP to contract in 2020, owing to the economic fallout caused by the outbreak of the novel coronavirus and a recovery to annual growth in 2021. Please do not hesitate to contact me. GDP per Capita in Belgium (with a population of 11,419,748 people) was $46,018 in 2017, an increase of $506 from $45,512 in 2016; this represents a change of 1.1% in GDP … GDP fell 5.2% on year in the third quarter on a calendar and price-adjusted basis, the National Bank of Belgium said. Population figures based on United Nations data. Please refer to the dataset Gross domestic product (GDP), 2019 archive to access longer time series based on the methodology prior to the 2019 benchmark revisions. Belgium GDP (Gross Domestic Product) was INT$482.95billion for 2019 in PPP terms. Belgium’s outward investment (equivalent to 95% of GDP in 2015) was almost the same size as its inward investment (98%). - … It also has found that the difference in GDP contributions between … Population figures based on United Nations data. Belgium ranked #4 for human development index amongst European Union in 2006. In fact, some sectors of the Belgian economy have come to be dominated by foreign firms. As in many IEA member countries, a major challenge for Belgium is to decarbonise the economy while ensuring security of supply and affordability of energy. Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. 2. Roughly three-quarters of Belgium's trade is with other EU countries, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU. Are you interested in testing our corporate solutions? In fact, the tertiary sector accounts for 69.7% of the GDP and employs 78% of the active population. (October 18, 2019). Field Listing :: GDP - composition, by sector of origin This entry shows where production takes place in an economy. De implementatie van de GDP-richtlijnen doorheen de gehele supply chain is een minimumvereiste voor alle logistieke spelers in de farmaceutische sector. Belgium ranked first for trade balance with US per million amongst Cold countries in 2003. SECTION 2 INDUSTRY 4.0 IN BELGIUM According to the latest OECD data, Belgium’s manufacturing is still picking up with rising production. Statbel. the Belgian economy resulting from the intermediate consumption of goods and services bought from Belgian suppliers. This indicator is based on nominal GDP (also called GDP at current prices or GDP in value) and is available in different measures: US dollars and US dollars per capita (current PPPs). Source: CIA World Factbook - This page was last updated on Friday, November 27, 2020. Agriculture includes farming, fishing, and forestry. One quarter (26 %) of people aged 15-64 in Belgium who are severely hampered by a disability or long-standing health problems have a job. Directly accessible data for 170 industries from 50 countries Gross Domestic Product in Belgium 2018, by economic sector Forecast change value added of 11 industries in the Netherlands 2019-2021 Consumer spending change in the Netherlands due to coronavirus 2020 "Gross Domestic Product (Gdp) in Belgium in 2018, by Economic Sector (in Million Euros). Belgium: Industrial activity falls at sharper pace in August. Belgium: Industrial activity falls at sharper pace in August. World's GDP is $80,934,771,028,340 (nominal, 2017).. See also: GDP per Capita Country Report 2017 - Includes Belgium real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. Following the revision, Belgium's GDP contracted 11.8% in the second quarter compared with a first estimate of a 12.2% decline. The GDP value of Belgium represents 0.44 percent of the world economy. Countries by GDP Sector Composition as of 2017. The Belgian Government reacted to the 1973 and 1979 oil price hikes by hiring the redundant work force into the public sector and subsidizing industries like coal, steel, textiles, glass, and shipbuilding, which had lost their international competitive edge. This concerns 38 % compared to 30 % of the total working population aged 15 to 64. Belgium is number one in the world in sales of chemicals and plastics per capita, ten percent of all chemical industry employees worldwide are in Belgium, and Flanders has Europe’s largest petrochemical cluster. The agency revised data for the second quarter of 2020. The Belgian economy also is inextricably tied to that of Europe. Belgium from The World Bank: Data. Belgium - GDP (billions of Euros) Economy recovers in Q3, but is likely to face headwinds in Q4. Definition: This entry shows where production takes place in an economy. By contrast, the difference was much lower in Belgium, Finland, France, Malta, Slovenia and Italy where average personnel costs per person employed for people working in the ICT sector were no more than 50 % higher than for the whole of the non-financial business economy. The Belgian economy is largely oriented towards services. Please create an employee account to be able to mark statistics as favorites. Government Spending to GDP in Belgium averaged 54.24 percent from 1980 until 2019, reaching an all time high of 64 percent in 1983 and a record low of 48.60 percent in 2007. Please authenticate by going to "My account" → "Administration". The services sector accounts for a large portion of GDP in the export-driven economy. October 29, 2020. All OECD countries compile their data according to the 2008 System of National Accounts (SNA). Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. The figures are based on nominal GDP and GDP (PPP) … Please note that OECD reference year from 2010 to 2015 changed on Tuesday 3rd of December, 2019. The distribution gives the percentage contribution of agriculture, industry , and services to total GDP, and will total 100 percent of GDP if the data are complete. In the third part, the analysis of the sector’s economic importance is supplemented by an analysis from Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Latest official GDP figures published by the World Bank. All Countries and Economies. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. This rate is 225 -tenths of one percent higher than the figure of -11.8% published in the first quarter of 2020. Belgium ranked 7th last for GDP > composition by sector > industry amongst High income OECD countries in 2012. Please contact us to get started with full access to dossiers, forecasts, studies and international data. This is a list of countries by gross domestic product (GDP) sector composition Methodology. The services sector accounts for a large portion of GDP in the export-driven economy. October 9, 2020 "Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros)." Most of the agriculture in Belgium is used for the country itself. October 9, 2020 DataBank. Belgium gdp growth rate for 2017 was 1.90%, a 0.43% increase from 2016. (billed annually). Gibraltar has 100% of gdp in services sector, other two sectors has zero output. CSV XML EXCEL. Industry includes mining, manufacturing, energy production, and construction. Accessed December 03, 2020. https://www.statista.com/statistics/525794/distribution-gross-domestic-product-gdp-across-different-economic-sectors-in-belgium/, Statbel. Na afloop van deze training: World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. Updated as of 2019. Belgium: Industrial activity falls at sharper pace in August. The Belgian insurance sector will be doubling up efforts to mitigate the negative impact of the coronavirus crisis on private individuals, households, the self-employed and companies. This page lists the countries of the world sorted by their gross domestic product per capita at nominal values.This is the value of all final goods and services produced within a nation in a given year, converted at market exchange rates to current U.S. dollars, divided by the average population for the same year. The vast majority of investment in the EU-27 was made by the private sector, as can be seen from Table 5: in 2019, investment by businesses and households accounted for 19.4 % of the EU-27’s GDP, whereas the equivalent figure for public sector investment was 3.0 %. Corporate solution including all features. Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Belgium economic outlook, debt to GDP ratio, international trade performance and population trends. Inflation in 2020 will barely reach 0.3%, mainly owing to the fall in energy prices. The government deficit for 2020 is estimated at 10.6% of GDP and although it will diminish thereafter, it will still amount to around 6% of GDP. The Gross Domestic Product (GDP) in Netherlands was worth 909.07 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Country Report 2017 - Includes Belgium real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. Belgium ranked #13 for GDP amongst Europe in 2012. Belgium boasts a dense network of rails and roadways and Europe’s second-busiest port, Antwerp. Belgium boasts a dense network of rails and roadways and Europe’s second-busiest port, Antwerp. Although Belgium is a wealthy country, public expenditures far exceeded income for many years, and taxes were not diligently pursued. Factoid #147 France is the top destination in the world for tourists, accounting for 11 percent of all tourist arrivals worldwide. Gross domestic product (GDP) As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports). Belgium's agriculture sector is only about 1.3% of the GDP. BELGIUM TRADE AND INVESTMENT STATISTICAL NOTE Over one-third (34% in 2014) of economic activity (GDP) in Belgium depends on foreign markets, around the same as in the Netherlands and Austria. Belgium has land resources and a highly-qualified workforce. Read more. Keeping up this momentum on structural reforms is key to energise the economy. A downside risk to our forecast is that being export-oriented, Belgium is exposed to swings in external demand. However, thanks to Belgiu… The GDP value of Netherlands represents 0.76 percent of the world economy. October 29, 2020. The country has been a member of a variety of supranational organizations, including the Belgium-Luxembourg Economic Union (BLEU), the Benelux Economic Union, and the EU. Changes in gdp, world rank and continent rank, % share in world economy and continent economy. As a result, According to DeRedactie.be, Belgian news portal, at the end of 2016 terrorism attacks caused a loss of 2.4bn euros of the GDP. We expect real GDP to contract in 2020, owing to the economic fallout caused by the outbreak of the novel coronavirus and a recovery to annual growth in 2021. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. This feature is limited to our corporate solutions. Belgium has Europe’s eighth biggest chemical industry, generating five percent of the value created by the sector across the continent. Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Belgium gdp growth rate for 2016 was 1.48%, a 0.55% decline from 2015. 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gdp by sector belgium

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