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Belgium GDP Annual Growth Rate

Belgium's GDP annual growth rate fell to 1.02% in 2024, down from 1.2% in 2023, according to World Bank. This represents a decrease of 0.18% from the previous year. Belgium has GDP annual growth rate lower than the global median (1.02% vs median 3.24%). Compared with the median in Europe, Belgium is lower (1.02% vs regional median 2.10%) and ranks 34th out of 47 countries in Europe.

Belgium's real GDP rose to $532.53 billion in 2024, up from $527.16 billion in 2023.

Yearly Historical Data (1961-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 1.02%
2023 1.2%
2022 4.26%
2021 6.21%
2020 -4.79%
2019 2.44%
2018 1.88%
2017 1.47%
2016 1.19%
2015 1.47%
2014 1.77%
2013 0.31%
2012 0.22%
2011 1.93%
2010 2.71%
2009 -1.91%
2008 0.45%
2007 3.68%
2006 2.55%
2005 2.32%
2004 3.57%
2003 1.04%
2002 1.71%
2001 1.1%
2000 3.72%
1999 3.54%
1998 1.96%
1997 3.79%
1996 1.32%
1995 2.38%
1994 3.23%
1993 -0.96%
1992 1.53%
1991 1.83%
1990 3.14%
1989 3.47%
1988 4.72%
1987 2.31%
1986 1.82%
1985 1.65%
1984 2.47%
1983 0.31%
1982 0.59%
1981 -0.28%
1980 4.44%
1979 2.34%
1978 2.84%
1977 0.63%
1976 5.65%
1975 -1.97%
1974 4.57%
1973 6.38%
1972 5.3%
1971 3.99%
1970 6.35%
1969 6.63%
1968 4.19%
1967 3.87%
1966 3.16%
1965 3.56%
1964 6.96%
1963 4.35%
1962 5.21%
1961 4.98%
Belgium GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Belgium's total economic output.
Indicator Last Value Prior Value Period
GDP $664.56B $644.66B 2024
GDP Growth Rate (QoQ) 0.2% 0.4% Jun'25
GDP Growth Rate (YoY) 1% 1.1% Jun'25
GDP per Capita $44,837.72 $44,722.2 2024
GDP per Capita PPP $63,083.18 $62,920.64 2024
R&D Expenditure (% GDP) 3.41% 3.39% 2022
Real GDP $532.53B $527.16B 2024