BelgiumChapters
Belgium became independent from the Netherlands in 1830; it was occupied by Germany during World Wars I and II. The country prospered in the past half century as a modern, technologically advanced European state and member of NATO and the EU. In recent years, political divisions between the Dutch-speaking Flemish of the north and the French-speaking Walloons of the south have led to constitutional amendments granting these regions formal recognition and autonomy. The capital city of Brussels is home to numerous international organizations including the EU and NATO.
Source: The CIA World Factbook - Belgium
Your advisors at the Chamber of Commerce
Camille Nothomb
Regina Khvastunova
Contact us: europe@cc.lu
Key indicators
- Area
- 30,528 km2
- Population
- 11,778,842 (July 2021 est.)
- Government type
- federal parliamentary democracy under a constitutional monarchy
- Languages
- Dutch (official) 60%, French (official) 40%, German (official) less than 1%, legally bilingual (Dutch and French)
- GDP
- $515.332 billion (2020 est.)
- Growth rate
- -6.3% (2020 est.)
- HDI
- 14
- Capital
- Brussels
Macroeconomic indicators
Economic growth is projected to continue at 1.7% in 2018 and 2019. Domestic demand will be an important driver of growth, thanks notably to further declines in unemployment. Growth in 2018 will be supported by strong government and private investment. Inflation will ease in 2018 as past pressures dissipate and electricity prices are reduced.
Public debt is projected to decline in 2018 and 2019, despite planned reductions in labour taxation. Re-orientating public spending towards education and transport infrastructure investment to relieve bottlenecks, as well as strengthening competition in various professions and making it easier to start a business, would enhance productivity and inclusiveness. Raising skills and work opportunities for disadvantaged groups is also key to make growth more inclusive.
Source: OECD - Economic Forecast
IMF Statistics:
| Subject descriptor | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
|
Gross domestic product, constant prices Percent change (Units) |
6.851 |
3.010 |
1.461 |
1.158 |
1.194 |
|
Gross domestic product, current prices Percent change (Billions) |
601.149 |
583.895 |
630.110 |
655.192 |
673.248 |
|
Gross domestic product per capita, current prices Percent change (Units) |
52,026.031 |
50,259.448 |
53,659.317 |
55,536.223 |
56,886.597 |
|
Inflation, average consumer prices Percent change (Units) |
3.210 |
10.325 |
2.293 |
3.623 |
1.993 |
|
Volume of imports of goods and services Percent change (Units) |
15.292 |
5.426 |
-2.763 |
-0.503 |
3.625 |
|
Volume of exports of goods and services Percent change (Units) |
14.718 |
7.196 |
-3.324 |
-0.556 |
2.920 |
|
Unemployment rate Percent change (Units) |
6.267 |
5.558 |
5.533 |
5.514 |
5.468 |
|
Current account balance Percent change (Billions) |
7.869 |
-5.908 |
-0.623 |
-3.391 |
-2.507 |
|
Current account balance Percent change (Units) |
1.309 |
-1.012 |
-0.099 |
-0.517 |
-0.372 |
Estimates
Source: IMF Statistics - Belgium
Relationships with Luxembourg
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 01.01.1972 (Memorial 1971, A no.64, p.1763)
- Effective as of 01.01.1973 (Memorial 1971, A no.64, p.1763)
- Avenant from 11.12.2002 (Memorial 2003, A no.195, p.4070)
- Effective as of 01.01.2005 (Memorial 2003, A no.195, p.4070)
- Avenant from 16.07.2009 (Memorial 2010, A no.51, p.913)
- Effective as of 01.01.2014 (Memorial 2010, A no.51, p.913)
Air Services agreement
None
Further information
Foreign Trade
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in Belgium
Embassy of the Grand Duchy of Luxembourg in Belgium
Ambassador with residence in Brussels: Mr. Stephan MULLER
75, avenue Cortenbergh
B-1000 Brussels
Belgium
Tel.: (+32 -2) 737 57 00
Fax: (+32 -2) 737 57 10
E-Mail: bruxelles.amb@mae.etat.lu
Website: bruxelles.mae.lu
General Consul in Brussels: Mr. Christian MULLER
75, Avenue de Cortenbergh
B-1000 Brussels
Belgium
Tel.: (+32 -2) 737 57 06
Fax: (+32 -2) 737 57 09
E-mail: Bruxelles.Consulat@mae.etat.lu
Honorary Consuls
Honorary Consul with jurisdiction over the Province of Antwerp:
Mr Laurent NOESEN
Nijverheidsstraat 54H
B-2160 Wommelgem
Belgium
Tel.: (+32) 3 2020900
E-Mail: laurent.noesen@noesen.be
Honorary Consul with jurisdiction over the Province of East Flanders:
Mr Paul VERSTRAETEN
4 Nijverheidskaai
B-9040 Sint-Amandsberg (Gand)
Belgium
Tel.: (+32) 495 59 79 36
E-Mail: paul.verstraeten4@telenet.be
Honorary Consul with jurisdiction over the Province of Liège:
Prof Dr Robert DONDELINGER
7, rue des Poètes
B-4121 Neuville en Condroz
Belgium
Tel.: (+32) 4 372 02 51 ; (+32) 4 366 72 59
E-Mail: rdondelinger@chu.ulg.ac.be
Honorary Consul with jurisdiction over the Province of Namur:
Ms Elisabeth de PITTEURS de BUDINGEN
15, Pommelée Vache
B-5080 La Bruyère
Belgium
Tel.: (+32) 4 259 90 00
E-Mail: depitteurs.elisabeth@proximus.be
Honorary Consul with jurisdiction over the Province of West Flanders:
Mr Frank DECEUNINCK
Leopold II laan 14
B-8400 Ostende
Belgium
Tel.: (+32) 59 70 09 12
E-Mail: ostende@consul-hon.lu
Source: Ministry of Foreign Affairs of Luxembourg
Economic and Commercial Attaché in charge of Belgium
Ms Claudine OTTO
Ms Camille NOTHOMB
Luxembourg Embassy in Belgium
75, Avenue Cortenbergh
B-1000 Brussels
Tel.: (+32) 2 737 57 34
Country risk as defined by Office du Ducroire for Belgium
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Link: Ducroire Office - Country Risk for Belgium