High energy prices to strongly impact economic performance
LOW RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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GDP | USD 599.9bn (World ranking 23, World Bank 2021) |
Population | 11.6mn (World ranking 80, World Bank 2021) |
Form of state | Constitutional parliamentary monarchy |
Head of government | Alexander De Croo (PM) |
Next elections | 2024, legislative |

- Strong business environment
- Diversified export structure in terms of products
- High company profitability and equity ratios
- High-skilled workforce
- High share of foreign direct investments
- High level of innovation

- One of the highest tax burdens on the private sector in the EU
- Very high corporate debt
- High public debt
- High dependency on the Eurozone business cycle
- High external liabilities
Trade structure by destination/origin
(% of total, annual 2020)
Exports | Rank | Imports |
---|---|---|
Germany
16.6%
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1 |
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France
13.2%
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2 |
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Netherlands
11.6%
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3 |
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United States
8.6%
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4 |
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United Kingdom
6.0%
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5 |
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Trade structure by product
(% of total, annual 2020)
Exports | Rank | Imports |
---|---|---|
Medicinal and pharmaceutical products
16.4%
|
1 |
13.1%
Medicinal and pharmaceutical products
|
Road vehicles
11.7%
|
2 |
11.9%
Road Vehicles
|
Organic chemicals
6.3%
|
3 |
6.2%
Petroleum, petroleum products and related materials
|
Petroleum, petroleum products and related materials
4.1%
|
4 |
6.0%
Organic chemicals
|
Plastics in primary forms
3.9%
|
5 |
4.6%
Electrical machinery, apparatus and appliances, n.e.s.
|
LATEST NEWS ABOUT BELGIUM
-
Sector vulnerability to rising financing costs
02 June
Five sectors stand out as the most exposed to financing stress: transportation, construction, hospitality, commodities and automotive.
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Allianz Trade Global Survey 2023: Testing resilience
01 June
Roughly 70% of the nearly 3,000 companies we surveyed expect business turnover generated through exports to increase in 2023, against close to 80% in the 2022 edition.
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European commercial real estate – selectivity matters!
25 May
The commercial real estate sector is getting squeezed by tightening financing conditions but prime assets have remained resilient.
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