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Innovation is essential to growth. In this study, we examine, through the lens of patent data, Belgium’s strengths and weaknesses in this field.


The business climate has deteriorated in the trade sector in particular, more than wiping out last month’s clear rebound, as well as in business-related services. The building industry also registered a decline. 


The National Bank has assessed the Belgian fiscal framework and has put forward recommendations for improving it. A well-designed fiscal framework is crucial for reducing the budget deficit and public debt after the COVID-19 crisis.

Consumers appear more optimistic about the expected trend in the general economic situation in Belgium. On the other hand, they remain concerned about unemployment.

consumer survey

During the first coronavirus lockdown, Belgian households were obliged to radically change their spending behaviour. In an article to be published in the December issue of the Economic Review, two of the NBB's economists, Hélène Zimmer and Jana Jonckheere, have calculated how this shift in spending has affected the way inflation is measured.

Read the interview with authors Hélène Zimmer and Jana Jonckheere.

The loss of turnover incurred by Belgian firms as a result of the coronavirus crisis has risen to 17 % in November. This is 3 percentage points down on the period running from August to October but roughly half the huge loss of revenue recorded during the first lockdown in March and April. This is the main conclusion to be drawn from the latest ERMG survey among Belgian firms

  • Economic indicators for Belgium (2020-48)

  • Press release - NAI - Quarterly aggregates (2020-III)

  • Economic indicators for Belgium (2020-49)

  • Observatory for credit to non financial companies - Quarterly update (F-N) (2020-III)

  • Economic indicators for Belgium (2020-50)

  • Observatory for credit to non financial companies - Monthly Flash (F-N) (2020-10)

  • Press release - Foreign Trade (F-N) (2020-09)

  • Statistical bulletin - Monthly update (2020-11)

  • Foreign Trade statistic - Monthly Bulletin (F-N) (2020-09)

  • Press release - Consumer confidence indicator (2020-12)

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