Gross domestic product (GDP) in Belgium 2014-2023

The total value of goods and services produced in Belgium in the second quarter of 2023 reached 145 billion euros. The most common indicator to assess the state of a country's economy is the gross domestic product (GDP). The health of Belgium's economy can be analyzed by comparing its GDP over time. Over the years, GDP in Belgium was significantly higher in the fourth quarter.

In the fourth-quarter of 2020, GDP in Belgium reached over 124 billion euros

Compared to the fourth quarter of 2019, the fourth quarter of 2020 produced a lower GDP. In addition to usual fluctuations, this decrease could be partly due to coronavirus. Indeed, the pandemic resulted in lowered productivity and demand. While the impact of the coronavirus on the Belgian economy is yet to be fully measured, but economic uncertainty is undeniable.

Economic growth in Belgium

From 2014 to 2021, the quarterly GDP in Belgium was at its lowest in the first quarter of 2014, where it fell to 96 billion euros. On the other hand, the Belgian GDP was at its highest in the most recent time period, where it reached over 138 billion euros. Nonetheless, Belgium's GDP fell by 6.3 percent in 2020, also likely due to the impact of the coronavirus.