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In 2023, the Belgian economy grew by 1.5% (compared with 3% in 2022). Growth was driven by services (+2.6%) and construction (1.9%), while manufacturing was down by 3.1%. Over the same period, domestic employment rose by 0.8%.


How will climate change impact productivity in Belgium? What about the policies put in place to deal with it? One thing is certain: an abrupt shift to a more climate-friendly economy could give rise to lasting productivity costs, hence the importance of a well-planned transition.


Business confidence picked up in February, with all sectors reporting an improvement in the business climate. Firms also pointed to a significant easing of credit conditions in January.

Baromètre de conjoncture

As was the case in January, consumer confidence slipped in February. Households are less optimistic about the economic situation in Belgium and have sharply downgraded their saving intentions.


Dig into the latest flash estimate, which includes unpublished, provisional figures for the fourth quarter of 2023, via this infographic.


For 2023 as a whole, foreign trade was down by almost 14%, after rising by more than 30% in 2022.


Under what conditions could rising interest rates trigger a snowball effect for public debt? What can we expect to see in the coming years? Check out the new article on our blog, “Beware of the snowball effect!”, for some answers.  

Blog images spotlight
  • Business Cycle Monitor March 2024

  • Press release - Foreign Trade Statistics (F-N) (2023-12)

  • Foreign Trade Statistics - Monthly Bulletin (F-N) (2023-12)

  • Press release - Consumer confidence indicator (2024-03)

  • Press release - Business confidence indicator (2024-03)

  • Press release - NAI - Regional accounts - Regional distribution of Belgian imports and exports of goods and services (2022)

  • Regional accounts - Regional distribution of Belgian imports and exports of goods and services (F-N) (2022)

  • Press release - Net international investment position and balance of payments financial account (2023-IV)

  • Press release - Financial accounts of Belgium (2023-IV)

  • Foreign Trade Statistics - Monthly Bulletin (F-N) (2024-01)

In the picture