gdp by sector belgium

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1.3.1 A Gateway to Europe As a result, cumulative government debt reached 121% of GDP by the end of the 1980s. Please note that OECD reference year from 2010 to 2015 changed on Tuesday 3rd of December, 2019. GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. Thematic data tables from WDI. Belgium: Economy recovers in Q3, but is likely to face headwinds in Q4. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. 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 Agriculture includes farming, fishing, and forestry. Economic Survey of Belgium 2020. In fact, the tertiary sector accounts for 69.7% of the GDP and employs 78% of the active population. "Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros)." 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. All OECD countries compile their data according to the 2008 System of National Accounts (SNA). the Belgian economy resulting from the intermediate consumption of goods and services bought from Belgian suppliers. 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. Projections for Belgium: summary of the main results - … 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%. 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. You only have access to basic statistics. Exports of goods and services (% of GDP) World Bank national accounts data, and OECD National Accounts data files. Belgium's agriculture sector is only about 1.3% of the GDP. Belgium boasts a dense network of rails and roadways and Europe’s second-busiest port, Antwerp. 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. Kennis over en handelen naar de GDP-verwachtingen is een noodzaak om binnen de farmaceutische industrie kwaliteitsvolle producten te kunnen afleveren. Belgium: Industrial activity falls at sharper pace in August. Please create an employee account to be able to mark statistics as favorites. Source: CIA World Factbook - This page was last updated on Friday, November 27, 2020. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. Data Source: World Bank MLA Citation: Then you will be able to mark statistics as favourites and use personal statistics alerts. 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. All Countries and Economies. 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. 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 %. A downside risk to our forecast is that being export-oriented, Belgium is exposed to swings in external demand. 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. 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. 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. Belgium’s tax, labour, pension and education reforms have improved the potential for stronger, sustainable and inclusive growth over the long term. 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. Belgium ranked 7th last for GDP > composition by sector > industry amongst High income OECD countries in 2012. Learn more about how Statista can support your business. 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. 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). 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. Belgium gdp growth rate for 2018 was 1.49%, a 0.42% decline from 2017. 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. 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 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. Facts and statistics about the GDP - composition by sector of Belgium. WDI Tables. Following the revision, Belgium's GDP contracted 11.8% in the second quarter compared with a first estimate of a 12.2% decline. Belgium - GDP (billions of Euros) Economy recovers in Q3, but is likely to face headwinds in Q4. 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. Accessed December 03, 2020. https://www.statista.com/statistics/525794/distribution-gross-domestic-product-gdp-across-different-economic-sectors-in-belgium/, Statbel. Factoid #147 France is the top destination in the world for tourists, accounting for 11 percent of all tourist arrivals worldwide. Chart. 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. 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. This is what emerged from the figures of Statbel, the Belgian statistical office, based on the Labour Force Survey 2019. The gross value added of non-financial corporations delivers not only the largest contribution to GDP growth, but is also quite volatile. 30 countries receive more than 80 percent of their GDP from services sector. Belgium’s outward investment (equivalent to 95% of GDP in 2015) was almost the same size as its inward investment (98%). Belgium GDP (Gross Domestic Product) was INT$482.95billion for 2019 in PPP terms. Belgium ranked #4 for human development index amongst European Union in 2006. Definition: This entry shows where production takes place in an economy. Read more. 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 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. DataBank. 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. October 9, 2020 Country. Chad has lowest 27% contribution by services sector in its economy. "Gross Domestic Product (Gdp) in Belgium in 2018, by Economic Sector (in Million Euros). According to DeRedactie.be, Belgian news portal, at the end of 2016 terrorism attacks caused a loss of 2.4bn euros of the GDP. and over 1 Mio. Belgium from The World Bank: Data. Register in seconds and access exclusive features. Read more. Services sector is the leading sector in 201 countries/economies. World's GDP is $80,934,771,028,340 (nominal, 2017).. See also: GDP per Capita 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 2016 was 1.48%, a 0.55% decline from 2015. Directly accessible data for 170 industries from 50 countries Industry includes mining, manufacturing, energy production, and construction. Field Listing :: GDP - composition, by sector of origin This entry shows where production takes place in an economy. October 18, 2019. However, 2017 was the strongest year since 2010 as far as manufacturing added value is concerned. The figures are based on nominal GDP and GDP (PPP) … Belgium ranked first for trade balance with US per million amongst Cold countries in 2003. In fact, some sectors of the Belgian economy have come to be dominated by foreign firms. In, Statbel. 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. Then you can access your favorite statistics via the star in the header. facts. Although Belgium is a wealthy country, public expenditures far exceeded income for many years, and taxes were not diligently pursued. A downside risk to our forecast is that being export-oriented, Belgium is exposed to swings in external demand. The Food sector is the most heavily affected sector in Belgium with job losses amounting up to 45 00 jobs. Read more. 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. Inflation in 2020 will barely reach 0.3%, mainly owing to the fall in energy prices. The Belgian economy is largely oriented towards services. The GDP value of Belgium represents 0.44 percent of the world economy. 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. The agency revised data for the second quarter of 2020. Main points. Belgium has land resources and a highly-qualified workforce. Data source is CIA Factbook. 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 %. New, Figures and insights about the advertising and media world, Industry Outlook Belgium gdp growth rate for 2017 was 1.90%, a 0.43% increase from 2016. Gross Domestic Product of Belgium grew 10.7% in the second quarter of 2020 compared to the previous quarter. Download Historical Data Save as Image. 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. October 29, 2020. Please authenticate by going to "My account" → "Administration". Djibouti ranked first for GDP > composition by sector > services amongst Sub-Saharan Africa in 2012. GDP per Capita in Belgium (with a population of 11,419,748 people) was $46,018 in 2017, an increase of $506 from $45,512 in 2016; this represents a change of 1.1% in GDP … The figures are based on nominal GDP and GDP (PPP) estimates and sector composition ratios provided by the CIA World Factbook at market or government ... Belgium: 529,200: 0.7%: 22.1%: Statista. Belgium is number one in the world in sales of chemicals and plastics per capita, ten percent of all chemical industry employees worldwide are in Belgium, and Flanders has Europe’s largest petrochemical cluster. GDP Growth Rate in 2017 was 1.73%, representing a change of 8,748,244,171 US$ over 2016, when Real GDP was $516,766,169,314. 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. Keeping up this momentum on structural reforms is key to energise the economy. 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. the last decades, added value of the manufacturing industry to the Belgian GDP continued to slip. New, Everything you need to know about the industry development, Find studies from all around the internet. 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. Most of the agriculture in Belgium is used for the country itself. 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 By 2022 it is expected to rise to 1.8 %. Population figures based on United Nations data. (billed annually). In the third part, the analysis of the sector’s economic importance is supplemented by an analysis from Corporate solution including all features. CSV XML EXCEL. October 9, 2020 The Climate Change Knowledge Portal is a hub of information, data and reports about climate change around the world. 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. Even this bleak outlook is subject to great uncertainty and significant downside risks. 2. Belgium boasts a dense network of rails and roadways and Europe’s second-busiest port, Antwerp. This concerns 38 % compared to 30 % of the total working population aged 15 to 64. 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 GDP (Nominal) and GDP (PPP) of european countries by IMF. 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. 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. GDP fell 5.2% on year in the third quarter on a calendar and price-adjusted basis, the National Bank of Belgium said. Updated as of 2019. 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. Gross Domestic Product (GDP) in Belgium in 2018, by economic sector (in million euros) [Graph]. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not produce material goods. The Belgian economy also is inextricably tied to that of Europe. Latest official GDP figures published by the World Bank. Population figures based on United Nations data. Latest official GDP figures published by the World Bank. 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. The country’s emergency oil stock levels are also high. Statbel. A hard brexitwould also have a major impact on EU-27 Textiles industry with nearly 130 000 jobs lost. Profit from additional features by authenticating your Admin account. Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. A possibility of even worse outcomes. Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. The services sector accounts for a large portion of GDP in the export-driven economy. Belgium: Economy recovers in Q3, but is likely to face headwinds in Q4. Belgium: Economy recovers in Q3, but is likely to face headwinds in Q4. Please note that OECD reference year from 2010 to 2015 changed on Tuesday 3rd of December, 2019. Belgium ranked second last for GDP > composition by sector > agriculture amongst European Union in 2012. 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. Are you interested in testing our corporate solutions? 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). October 29, 2020. October 29, 2020. 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. 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 Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. Na afloop van deze training: Gross domestic product growth in Wales was 0.3% in Quarter 4 (Oct to Dec) 2018. This rate is 225 -tenths of one percent higher than the figure of -11.8% published in the first quarter of 2020. Not a lot is exported, but chocolate and processed foods are some agriculture-related items that are exported. Belgium ranked first for trade balance with US per million amongst Cold countries in 2003. It also has found that the difference in GDP contributions between … Gibraltar has 100% of gdp in services sector, other two sectors has zero output. This is a list of countries by gross domestic product (GDP) sector composition Methodology. Luxembourg ranked first for GDP > composition by sector > services amongst High income OECD countries in 2007. SECTION 2 INDUSTRY 4.0 IN BELGIUM According to the latest OECD data, Belgium’s manufacturing is still picking up with rising production. Belgium has excellent gas transport infrastructure, and its gas market is well-integrated with those of its neighbours. 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. (October 18, 2019). Belgium - Belgium - Economy: Belgium has a free-enterprise economy, with the majority of the gross domestic product (GDP) generated by the service sector. Countries by GDP Sector Composition as of 2017. De implementatie van de GDP-richtlijnen doorheen de gehele supply chain is een minimumvereiste voor alle logistieke spelers in de farmaceutische sector. The services sector accounts for a large portion of GDP in the export-driven economy. 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. Methodology. 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. Also in Ireland, Poland, the Netherlands and Denmark this sector will be significantly hit. Online tool for visualization and analysis. The GDP value of Netherlands represents 0.76 percent of the world economy. However, thanks to Belgiu… Brussels, the hub of several European institutions, numerous diplomatic representations and different interest groups, has essentially based its economy … These indirect effects are estimated via two variables: employment and value added. Belgium has Europe’s eighth biggest chemical industry, generating five percent of the value created by the sector across the continent. Belgium: Industrial activity falls at sharper pace in August. ", 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.

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