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



Your advisors at the Chamber of Commerce

Camille Nothomb

Regina Khvastunova

Contact us: europe@cc.lu


Key indicators

Area
30,528 km2
Population
11,778,842 (July 2021 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
$515.332 billion (2020 est.)
Growth rate
-6.3% (2020 est.)
HDI
14
Capital
Brussels

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 descriptor 2018 2019 2020 2021 2022

Gross domestic product, constant prices

Percent change

1.438

1.214

1.300

1.305

1.319

Gross domestic product, current prices

Percent change

(Billions)

532.268

517.609

529.554

547.870

566.382

Gross domestic product per capita, current prices

Percent change

(Units)

46,695.986

45,175.585

45,979.691

47,324.510

48,671.139

Inflation, average consumer prices

Percent change

2.311

1.514

1.254

1.527

1.597

Volume of imports of goods and services

Percent change

0.127

2.800

2.735

2.750

2.786

Volume of exports of goods and services

Percent change

0.306

2.900

2.677

2.632

2.545

Unemployment rate

Percent change

5.967

5.500

5.500

5.500

5.500

Current account balance

Percent change

(Billions)

-7.011

-5.655

-4.442

-5.701

-6.960

Current account balance

Percent change

-1.317

-1.093

-0.839

-1.041

-1.229

Estimates

Source: IMF Statistics - Belgium


Relationships with Luxembourg

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 with residence in Brussels: Mr. Stephan MULLER

75, avenue Cortenbergh
B-1000 Brussels
Belgium

Tel.: (+32 -2) 737 57 00
Fax: (+32 -2) 737 57 10  
E-Mail: bruxelles.amb@mae.etat.lu
Website: bruxelles.mae.lu 

General Consul in Brussels: Mr. Christian MULLER

75, Avenue de Cortenbergh
B-1000 Brussels
Belgium

Tel.: (+32 -2) 737 57 06
Fax: (+32 -2) 737 57 09
E-mail: Bruxelles.Consulat@mae.etat.lu

 

Honorary Consuls

Honorary Consul with jurisdiction over the Province of Antwerp:

Mr Laurent NOESEN 

Bredastraat 153
B-2060 Anvers
Belgium

Tel.: (+32) 3 2020920
E-Mail: anvers@consul-hon.lu 

Honorary Consul with jurisdiction over the Province of East Flanders:

Mr Paul VERSTRAETEN

4 Nijverheidskaai
B-9040 Sint-Amandsberg (Gand)
Belgium

Tel.: (+32) 495 59 79 36
E-Mail: paul.verstraeten4@telenet.be 

Honorary Consul with jurisdiction over the Province of Liège:

Prof Dr Robert DONDELINGER

7, rue des Poètes
B-4121 Neuville en Condroz
Belgium

Tel.: (+32) 4 372 02 51 ; (+32) 4 366 72 59
E-Mail: rdondelinger@chu.ulg.ac.be 

Honorary Consul with jurisdiction over the Province of Namur:

Ms Elisabeth de PITTEURS de BUDINGEN

15, Pommelée Vache
B-5080 La Bruyère
Belgium

Tel.: (+32) 4 259 90 00
E-Mail: depitteurs.elisabeth@proximus.be 

Honorary Consul with jurisdiction over the Province of West Flanders:

Mr Frank DECEUNINCK

Leopold II laan 14
B-8400 Ostende
Belgium

Tel.: (+32) 59 70 09 12
E-Mail: ostende@consul-hon.lu 

Source: Ministry of Foreign Affairs of Luxembourg

 

Economic and Commercial Attaché in charge of Belgium

Ms Claudine OTTO
Ms Camille NOTHOMB

Luxembourg Embassy in Belgium
75, Avenue Cortenbergh
B-1000 Brussels
Tel.: (+32) 2 737 57 34  

 

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


Chamber of Commerce and the country