Category: belgium

he National Bank of Belgium (NBB) has released its latest economic indicators, revealing a mixed but resilient performance for the country in the face of global economic challenges. Here are the key highlights from the data published on the NBB website: Real GDP Growth: Consumer Prices and Inflation: Labour Market: Business and Consumer Confidence: External…

The National Bank of Belgium (NBB) has released key insights into Belgium’s economic climate: Monthly Business Survey – November 2023: Resilient Confidence Belgium’s business confidence rebounded in November, led by positive trends in the business-related services and trade sectors. Business Survey Indicators: Quarterly Business Survey on Credit Conditions – October 2023: Tightening Credit Conditions The…

In a bid to address the pressing issue of securing access to critical raw materials (CRMs), Europe is charting a course for a collaborative strategy on the global stage. As the demand for CRMs, essential for clean energy and digital technologies, skyrockets, the continent faces the challenge of reliance on a handful of countries and…

In November 2023, a comprehensive analysis delves into the sustainability of public spending on pensions in Belgium, especially in comparison with other euro area countries. Belgium, like its European counterparts, is grappling with the challenges of an aging population. The proportion of pensioners is set to surge in the coming decades, while the working-age population…

The National Bank of Belgium reports a sustained decline in Belgian imports and exports, registering -26.0% and -20.2%, respectively, for the period from July to September 2023. This ongoing downturn, initiated in early 2023, sees negative growth persist, with September figures revealing contractions of -24.5% for imports and -21.6% for exports. Despite an overall stable…

A recent study examining the impact of three decades of declining interest rates on Belgian non-financial firms reveals surprising trends, challenging common expectations. The study covers the period from 1985 to 2022, providing a unique and extensive dataset for a detailed exploration of how individual firms navigated this extended era of shifting interest rates. Contrary…

According to the latest data from the Observatory of Credit to Non-Financial Companies in Belgium, there has been a deceleration in the year-on-year growth of business credits in September compared to the previous month. The annual growth rate of credits allocated by resident banks to non-financial corporations stood at 3.2% in September, down from 3.6%…

The National Bank of Belgium (NBB) has released its latest economic indicators, projecting a cautious yet positive trajectory for the nation’s economy. The data, available on the NBB website, highlights key aspects of Belgium’s economic performance and future expectations. GDP Growth: The NBB anticipates a steady recovery, with GDP growth rates forecasted at 3.2% in…

Belgium’s economy exhibited a 0.5% growth in the third quarter of 2023, as reported by the National Accounts Institute. This follows a 1.5% year-on-year increase. Preliminary data reveals a 0.6% decline in value added in the industry, while the services sector experienced a positive growth of 0.8%. Construction also saw a modest uptick of 0.6%.…

In a comprehensive update, the National Bank of Belgium (NBB) presents an extensive overview of Belgian business-to-business transactions from 2002 to 2021. Leveraging data from VAT client lists, this dataset captures the intricate web of interactions between non-financial corporations across diverse sectors, offering a unique perspective for research in industrial organization, international trade, and network…

In its October 2023 meeting, the European Central Bank (ECB) decided to maintain its three key interest rates, signaling a commitment to addressing persistently high inflation while acknowledging recent declines. Here are the key outcomes: Interest Rates Unchanged: Inflation Assessment: Forward Guidance on Rates: Asset Purchase Programs: Refinancing Operations: Flexibility and Readiness: Press Conference: https://www.nbb.be/de/monetary-policy-decisions-10-2023

The National Bank of Belgium reports a decline in business confidence across various sectors in October 2023, reflecting concerns about current and future economic activity. Key Findings: http://www.nbb.be/doc/dq/e/dq3/histo/pec2310.pdf

In its recent communication, the Banque nationale de Belgique provided an overview of the non-financial accounts of institutional sectors for the second quarter of 2023. Here are the key indicators: Households: Non-Financial Corporations: Public Administrations: General Observations: Outlook and Methodology: This comprehensive overview offers valuable insights into the economic dynamics of Belgium in the second…

Belgium’s real GDP is forecasted to grow steadily in 2023, with a projected increase of 2.7% compared to the previous year. The country has experienced a rebound from the challenges faced in 2020, with a robust recovery in various economic sectors. Labor Market Trends Total employment in Belgium is expected to continue its positive trajectory,…

Belgium experiences a persistent decline in both imports and exports, with a notable decrease of -22.7% and -17.8%, respectively, over the past three months (June to August 2023). This adds to the negative trend observed since the beginning of the year. Noteworthy is the surge in the trade of transportation equipment, particularly the robust increase…

The National Bank of Belgium reports a continued decline in the value of Belgian imports and exports for the three months ending August 2023. The downturn, reaching -22.7% for imports and -17.8% for exports, adds to the negative trend observed since the beginning of the year. Key Highlights: Trade by Product Category (June 2023 –…

Australia showcases a remarkable rebound in international travel, as unveiled by the latest statistics from the Australian Bureau of Statistics for August 2023. Surge in Arrivals: The data reveals a surge in short-term visitor arrivals, hitting an impressive 603,360, denoting a robust annual increase of 254,920 trips. Australians returning home mirrored this upward trend, with…

The latest report from the Observatory of Credit to Non-Financial Companies reveals a marginal decline in the year-on-year growth of credits to businesses in August, compared to the previous month. The annual growth rate of credits granted by resident banks to non-financial companies stood at 3.6%, a slight dip from 3.7% in July. Breaking down…

Brussels, October 9, 2023: In 2022, inflation in the euro area reached an alarming 8.4%, a level unseen since the inception of the currency union in 1999. The pressing question arises: do economic actors still anticipate an inflation rate close to the European Central Bank’s (ECB) 2% target? Despite indications leaning towards affirmation, critical considerations…

A recent study conducted in Belgium delves into the intricate effects of input variety creation and destruction on both micro and macroeconomic outcomes. The microeconomic analysis reveals that the elasticity of downstream firms’ marginal cost to supplier separation plays a pivotal role, capturing the area under the input demand curve. Empirically, the study estimates that…