General information on Belgium

Belgium was one of the first continental European countries to industrialise, supported by its central location, strong transport links, major ports, rail infrastructure and multilingual workforce.
Its economy remains highly open and trade-oriented.
A large share of Belgian exports goes to other EU countries; official Belgian government figures put exports to the EU at about 65% in 2024.
Belgium developed existing trade agreements and trade routes.

Belgium is a highly developed economy in which the services sector accounts for the large majority of GDP.
World Bank data show services represented about 71% of GDP in 2024, while agriculture accounted for roughly 0.8%. Belgium is also one of Europe’s most trade-dependent economies.

Belgium joined the euro area at its launch in 1999, and euro notes and coins entered circulation in 2002.
According to the Belgian federal authorities, GDP stood at around €549 billion in 2024, and Belgium ranked 23rd globally by GDP.
Public debt was about 105.4% of GDP in 2024.

Belgium had broadly balanced budgets in part of the pre-2008 period, but the global financial crisis and later the COVID-19 shock put pressure on growth and public finances. More recently, the European Commission reported that Belgian economic activity grew by 1.0% in 2024, with slower growth expected thereafter.

Sources: Globalpropertiesguide - Europa.eu -Worldbank - European Commission- Statbel - www.belgium.be