Belgium's GDP changed from approximately $123B 478M in 1980 to $655B 192M in 2024, showing an overall 430.6% sharply increased during the period.
The lowest GDP was recorded in 1984 at $81B 237M, and the highest in 2024 at $655B 192M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 3.9%.
For comparison, the average annual growth rate of France was 3.5%, and that of Netherlands was 4.1%.
Belgium GDP from 1980 to 2024
The total market value of goods and services produced annually in Belgium.
Overview of Belgium's GDP (1980–2024)
The Gross Domestic Product (GDP) of Belgium recorded a 430.6% sharply increased from 1980 to 2024.
The average GDP during this period was $340B 797M, and the median was $288B 301M.
GDP fluctuated within a range of $573B 955M, with a standard deviation of $175B 706M.
The average annual change was $13B 14M.
Highest and Lowest GDP Records
- Lowest GDP: 1984, $81B 237M
- Highest GDP: 2024, $655B 192M
- Most Recent GDP: 2024, $655B 192M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2015: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Belgium's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $535B 924M → $525B 842M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $470B 978M → $482B 730M
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $236B 897M → $236B 748M
- Outcome: remained stable
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $253B 22M → $258B 875M
- Outcome: increased
Key Economic Indicators of Belgium (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 4.444 % | $ 123B 478M | $ 106B 133M | $ 12,529.35 | $ 10,769.32 | 19.84 % | 9M 855K people | -3.999 % | -3.941 % |
1981 | -0.279 % | $ 102B 245M | $ 115B 850M | $ 10,366.11 | $ 11,745.45 | 17.42 % | 9M 863K people | -4.094 % | -8.441 % |
1982 | 0.595 % | $ 89B 958M | $ 123B 740M | $ 9,128.58 | $ 12,556.63 | 16.60 % | 9M 855K people | -2.898 % | -4.204 % |
1983 | 0.312 % | $ 85B 37M | $ 128B 987M | $ 8,626.16 | $ 13,084.47 | 16.30 % | 9M 858K people | -0.584 % | -5.998 % |
1984 | 2.466 % | $ 81B 237M | $ 136B 939M | $ 8,244.85 | $ 13,898.13 | 17.52 % | 9M 853K people | -0.067 % | -2.053 % |
1985 | 1.652 % | $ 84B 467M | $ 143B 602M | $ 8,568.65 | $ 14,567.50 | 17.60 % | 9M 858K people | 0.799 % | -0.759 % |
1986 | 1.823 % | $ 117B 63M | $ 149B 164M | $ 11,873.81 | $ 15,129.86 | 18.72 % | 9M 859K people | 2.622 % | -0.278 % |
1987 | 2.307 % | $ 145B 411M | $ 156B 386M | $ 14,740.46 | $ 15,853.02 | 19.68 % | 9M 865K people | 1.926 % | 1.55 % |
1988 | 4.723 % | $ 158B 97M | $ 169B 548M | $ 16,008.64 | $ 17,168.18 | 22.18 % | 9M 876K people | 2.277 % | 2.026 % |
1989 | 3.469 % | $ 159B 816M | $ 182B 309M | $ 16,098.16 | $ 18,363.86 | 23.47 % | 9M 928K people | 2.255 % | 2.97 % |
1990 | 3.137 % | $ 200B 149M | $ 195B 66M | $ 20,119.94 | $ 19,608.98 | 23.65 % | 9M 948K people | 1.817 % | 4.124 % |
1991 | 1.833 % | $ 205B 369M | $ 205B 360M | $ 20,563.73 | $ 20,562.83 | 22.74 % | 9M 987K people | 2.319 % | 3.066 % |
1992 | 1.531 % | $ 228B 732M | $ 213B 256M | $ 22,823.03 | $ 21,278.75 | 23.06 % | 10M 22K people | 2.914 % | 2.097 % |
1993 | -0.962 % | $ 218B 720M | $ 216B 210M | $ 21,723.62 | $ 21,474.28 | 24.41 % | 10M 68K people | 5.144 % | 2.697 % |
1994 | 3.227 % | $ 238B 622M | $ 227B 953M | $ 23,624.47 | $ 22,568.20 | 25.63 % | 10M 101K people | 5.28 % | 3.615 % |
1995 | 2.385 % | $ 288B 301M | $ 238B 282M | $ 28,458.47 | $ 23,521.08 | 25.77 % | 10M 131K people | 5.339 % | 3.844 % |
1996 | 1.321 % | $ 279B 292M | $ 245B 851M | $ 27,535.29 | $ 24,238.35 | 25.25 % | 10M 143K people | 4.954 % | 3.982 % |
1997 | 3.794 % | $ 253B 22M | $ 259B 577M | $ 24,878.75 | $ 25,523.26 | 26.21 % | 10M 170K people | 5.471 % | 5.158 % |
1998 | 1.962 % | $ 258B 875M | $ 267B 644M | $ 25,399.22 | $ 26,259.54 | 26.09 % | 10M 192K people | 5.12 % | 5.97 % |
1999 | 3.543 % | $ 258B 500M | $ 281B 48M | $ 25,309.06 | $ 27,516.61 | 28.88 % | 10M 214K people | 7.764 % | 5.832 % |