Category: belgium

Belgium’s economic indicators for the third quarter of 2023 reflect resilience despite challenges. The real GDP growth forecast for 2023 is 1.1%, following a positive trajectory from -2.3% in 2020. Consumption, both private and public, has rebounded, contributing significantly to the positive outlook. Labor Market and Employment The labor market is showing signs of improvement.…

In a historic move, the Belgian Debt Agency achieved unprecedented success with its recent issuance of a one-year State Note. The Note, maturing on September 4, 2024, witnessed an overwhelming response from retail investors, with over 500,000 savers contributing a staggering €21.9 billion. The issuance, labeled “Europe’s biggest-ever debt offering targeted exclusively at retail investors”…

After a robust start to the year, global growth is showing signs of moderation, particularly in the Chinese economic recovery. PMI indicators have fallen, indicating a mild weakening of growth. According to the ECB, the world economy (excluding the euro area) is projected to grow by slightly more than 3% in the coming years. The…

Real GDP Growth Moderates in 2023, Forecasts Point to Steady Expansion The National Bank of Belgium (NBB) has released its latest economic indicators, revealing a nuanced outlook for the country’s economic performance. Real GDP Growth: Inflation and Consumer Prices: Labor Market: Business and Consumer Confidence: Trade and Current Account: Cautionary Notes: Conclusion: Belgium’s economic landscape…

Business Climate Stabilizes Amid Sectoral Variations The Belgian business climate has shown signs of stabilization, countering a previous downward trend. However, beneath this overall picture lie diverse developments across sectors. While trade experienced a modest improvement in the business climate, the building industry faced deterioration. The manufacturing industry and business-related services remained relatively unchanged. Traders,…

According to data from the Observatoire du crédit aux sociétés non financières, Belgium has seen a decline in the growth of credit granted to non-financial corporations by resident banks. In June 2023, the annual growth rate stood at 4.1%, down from 4.7% in March. This shift is attributed to reduced credit issuance for both short…

According to the National Bank of Belgium’s latest monthly consumer survey, Belgian consumer confidence experienced a modest increase in September 2023. Here are the key highlights: Macroeconomic Outlook Improves: Households in Belgium are showing greater confidence in the overall economic situation in the country. Expectations for the general economic situation over the next twelve months…

In the latest monthly business survey for September 2023, the National Bank of Belgium reports mixed trends in business confidence across different sectors. Overall, the smoothed synthetic curve reflecting the underlying economic trend continues to fall, influenced by the negative results of recent months. Business Survey Indicators: Note: The smoothed curve has a two-month delay…

Real GDP Growth: Consumer Prices (HICP): Labor Market: General Government Balance: Current Account: Business and Consumer Sentiment: These economic indicators suggest that Belgium’s economy is on a positive trajectory in 2023, with steady GDP growth, moderate inflation, and improving sentiment among both businesses and consumers. This is indicative of a stable and growing economy. http://www.nbb.be/doc/dq/e/dq3/histo/iee2338.pdf

The National Bank of Belgium (NBB) has released its economic indicators for the country, providing a snapshot of the economic situation in Belgium for the year 2023. Here are the key highlights: 1. Real GDP Growth: 2. Consumer Prices: 3. Labor Market: 4. General Government Balance: 5. Current Account: 6. Business and Consumer Confidence: These…

The latest data from the Central Individual Credit Register reveals key insights into Belgium’s microeconomic landscape, based on information recorded in August 2023. Number of Borrowers: A Slight Decrease Belgium saw a marginal decrease in the number of borrowers compared to the previous year. In August 2023, there were 6,091,720 borrowers with at least one…

The world of economic history mourns the loss of Gianni Toniolo, a prominent figure in Italy and Europe’s economic history, who unexpectedly passed away in November 2022. Just a few weeks before his untimely departure, Toniolo unveiled his latest work, the first volume of his groundbreaking history of the Bank of Italy, titled “Storia della…

The decline in the value of Belgian imports and exports has persisted in June, according to data released by the National Bank of Belgium. Here’s a summary of the export-import trends over the past months: The decline in value has affected various product categories, with chemicals, minerals, diamonds, plastics, and common metals experiencing declines. However,…

Consumer Prices: Inflation, as measured by the Harmonized Index of Consumer Prices (HICP), is expected to rise by 2.4% in Belgium for 2023. This indicates a moderate increase in consumer prices. Labour Costs: Unit labor costs in Belgium are projected to increase by 4.09% in 2023. This suggests an increase in the cost of labor…

In June 2023, Belgium experienced a continued decline in both imports and exports, except for transportation equipment, machinery, and food products. The value of Belgian imports and exports over the past three months (from April to June 2023) showed a decline of -15.4% and -15.2%, respectively. This downward trend has been consistent throughout the year,…

The National Bank of Belgium (Banque nationale de Belgique) has confirmed that Belgium’s economic growth remained sluggish in the second quarter of 2023, with a growth rate of 0.2%. Economic Growth: The Gross Domestic Product (GDP) in volume, adjusted for seasonal variations and calendar effects, increased by 0.2% in the second quarter of 2023 compared…

Real GDP Growth: In 2023, Belgium’s real GDP is expected to grow by 2.7%, showing positive economic momentum after a 1.7% growth in the previous year. Consumer Prices: Belgium’s consumer price index (HICP) is projected to increase by 1.8% in 2023. This is slightly higher than the 1.7% rise recorded in 2022. Labor Market: Employment…

Belgium’s financial landscape continues to evolve, reflecting global economic trends and domestic policies. The National Bank of Belgium (NBB) has released the latest data on interest rates, providing insight into the country’s economic dynamics. Here’s a summary of the recent changes: Deposits from Households: In June 2023, overnight deposit rates for households remained stable at…

Belgium’s business landscape has experienced stable business confidence in August, with a nuanced picture emerging across various sectors. In the recent Monthly Business Survey conducted by the National Bank of Belgium, it was revealed that the overall fall in business confidence, which began in April, has leveled off. However, this stability masks divergent developments at…

The latest economic indicators from Belgium, sourced from the National Bank of Belgium (NBB), reveal a consistent growth trend in various sectors during the first half of 2023. GDP Growth and Components Belgium’s real GDP growth for the second quarter of 2023 reached 0.8%, continuing the positive momentum observed earlier this year. This growth was…