Your partner for success

Belgium
Chamber of Commerce Country Factsheet Last update: 12.07.2018

Your advisors at the Chamber of Commerce

  • Christophe Hansen
    +3227375700
  • Diana Rutledge
    +3227375714
Contact us: europe@cc.lu

Key Indicators

Area
30,528 km2
Population
11,491,346 (July 2017 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
$526.4 billion (2017 est.)
Growth rate
1.6% (2017 est.)
HDI
21
Capital
Brussels

 

Introduction

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

 

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 descriptor20142015201620172018
Gross domestic product, constant prices
Percent change
1.2951.3741.4451.3671.388
Gross domestic product, current prices
U.S. dollars (Billions)
532.079454.288470.179488.694505.629
Gross domestic product per capita, current prices
U.S. dollars (Units)
47,490.11240,528.93341,491.12342,661.80843,671.086
Inflation, average consumer prices
Percent change
0.4900.6202.0761.6151.742
Volume of imports of goods and services
Percent change
2.5950.9003.0814.1233.394
Volume of exports of goods and services
Percent change
2.0261.9553.0803.8893.393
Unemployment rate
Percent of total labor force
8.5508.5008.3848.3158.245
Current account balance
U.S. dollars (Billions)
-1.147-0.1550.5851.9464.428
Current account balance
Percent of GDP
-0.216-0.0340.1240.3980.876
Colored cells are estimates

Source: IMF Statistics - Belgium

 

Luxembourg and the country

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

Source: Administration des contributions directes

 

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: Mrs Arlette CONZEMIUS

75, avenue Cortenbergh
B-1000 Brussels
Tel.: (+32 -2) 737 57 00
Fax: (+32 -2) 737 57 10  
E-mail: bruxelles.amb(at)mae.etat.lu

General Consul in Brussels: Mr Jean-Claude MEYER

75, Avenue de Cortenbergh
B-1000 Bruxelles
Tel.: (+32 -2) 737 57 06
Fax.: (+32 -2) 737 57 09
E-mail: Bruxelles.Consulat(at)mae.etat.lu

 

Honorary Consuls

Honorary Consul with jurisdiction over the Province of Namur:

Mrs Elisabeth de PITTEURS de BUDINGEN
15, Pommelée Vache
B-5080 La Bruyere
Tel: +32 81 51 28 51
Fax: +32 81 51 28 51

Honorary Consul with jurisdiction over the province of Liège:

Pr.Dr. Robert Ferdinand DONDELINGER
7, rue des Poètes
B-4121 Neuville en Condroz
Tel: +32 4 372 02 51 (Consulate)
Fax: +32 4 372 00 77 (Consulate)
Tel: +32 4 366 72 59 (office)
E-mail: rdondelinger(at)chu.ulg.ac.be

Honorary Consul with jurisdiction over the East Flanders:

Mr Paul VERSTRAETEN

Nijverheidskaai 4
9040 Sint-Amandsberg
Tel.: +32 9 228 07 27
Fax.: +32 9 219 93 58
Email: bk315191(at)skynet.be

Honorary Consul with jurisdiction over the West Flanders:

Mr Frank DECEUNINCK

Leopold II laan 14
B-8400 Oostende
Tel: +32 59 70 09 12
Fax: +32 59 80 49 69
E-mail: frank.deceuninck(at)defiac.be

Honorary Consul with jurisdiction over the Province of Antwerp:

Mr Laurent NOESEN

Bredastraat 153
B-2060 Antwerp
Tel: +32 3202 09 20
Fax: +32 3202 09 25
E-mail: mail(at)noesen.be

Source: Ministry of Foreign Affairs of Luxembourg

 

Economic and Commercial Attaché in charge of Belgium

Mr Cristophe Hansen

Luxembourg Embassy in Belgium
75, Avenue Cortenbergh
B-1000 Brussels
Tel: (+32) 2 737 56 39

 

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

Other useful links

 

The Chamber of Commerce and the country

Upcoming events

Past events