Belgium PESTLE Insights – A Macroeconomic Outlook Report

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Belgium PESTLE Outlook Report Overview

The GDP of Belgium was $626.0 billion in 2023 and the country ranked 14th out of 153 nations in the GCRI Q1 2024. The Belgian government introduced the NEED project during its presidency of the Council of the European Union in 2024. During its presidency, Belgium aims to advance its unique multi-criteria approach to categorize unmet medical needs.

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The Belgium PESTLE insights report consists of the country’s snapshot, risk factors about the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure, and natural and geographic aspects that might impact business.

GDP 2023 $626.0 billion
Key Landscape ·       Political Landscape

·       Economic Landscape

·       Social Landscape

·       Technological Landscape

·       Environmental Landscape

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Belgium Macroeconomic Key Sector’s Contribution to the Economy

Belgium Macroeconomic Key Sector’s Contribution to the Economy

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PESTLE Insights of the Belgium Macroeconomic Outlook Report

Political Landscape: Belgium has remained an active participant in international politics. The country is at the center of Western European political institutions. The headquarters of the EU are in Brussels. Belgium is also home to the headquarters of NATO. Belgium has led the way in promoting European integration and the European Monetary Union (EMU) since it joined the EU at its founding.

Economic Landscape: Belgium possesses one of the best infrastructure networks in Europe, as it has high-density transportation and telecommunications infrastructure. Additionally, Belgium has well-developed water transport facilities. Moreover, the ports are fully integrated with road and rail networks, providing effective multi-modal transport.

Key Landscape Analysis in the Belgium PESTLE Insights Report

Key Landscape Analysis in the Belgium PESTLE Insights Report

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Scope

According to the World Bank, Logistics Performance Index (2023), Belgium ranked seventh out of 139 nations in 2023.

Key Highlights

The BEL20 index exhibited a volatile trend over the past year. As of April 5, 2024, the index stood at 3,837.5, compared to 3,769.8 on April 5, 2023.

Reasons to Buy

  • Macroeconomic Outlook Report identifies the potential of the country as an investment destination by analyzing the political, economic, social, technological, legal, and environmental (PESTLE) structure.
  • PESTLE Insights provides a 360-degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials, and the direction of operations.
  • Along with providing the country’s snapshot, the report captures the risk factors about the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure, and natural and geographic aspects that might impact business.
  • This report also highlights key clusters/cities which contribute significantly to the country’s GDP and population along with major companies’ presence in these areas.

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ABInBev
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Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape

Outlook

Table

Exhibit 1: Belgium’s performance in terms of its country risk analysis in comparison to West Europe and world average

Exhibit 2: Performance overview (score: 0-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: BEL20 index, (April 2023 – April 2024)

Exhibit 5: Key sectors contribution to the economy (2019–26f)

Exhibit 6: Direct investment flows in terms of assets and liabilities (Q4 2021 – Q4 2023) and FDI by sector (2019–22)

Exhibit 7: Direct investment inward income and stock by region (Q4 2022 – Q4 2023)

Exhibit 8: Key infrastructure indicators

Exhibit 9: Real GDP and household consumption growth rate (2019–26f)

Exhibit 10: Real GDP growth rate comparison (2023)

Exhibit 11: Volume of exports and imports growth (2019–26f)

Exhibit 12: Current account balance (2019–26f)

Exhibit 13: Top three commodity exports, % of total exports (2019–23)

Exhibit 14: Pharmaceutical products exports, % of world total (2022)

Exhibit 15: Interest rates (April 2019 – April 2024)

Exhibit 16: Exchange rate and inflation (2019–26f)

Exhibit 17: Public finance (2019–26f)

Exhibit 18: General government debt (2019–26f)

Exhibit 19: Unemployment rate (2019–26f)

Exhibit 20: Average annual wages (2019–26f)

Exhibit 21: Labor cost index (2019–26f)

Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)

Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025f)

Exhibit 24: Gender split (1995, 2005, 2015, 2025f)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2023)

Exhibit 26: Number of patents granted per million population (2022)

Exhibit 27: High technology exports, % of manufactured exports (2022)

Exhibit 28: Rule of law index (rankings) 2023

Exhibit 29: Corruption perceptions index (rankings) (2023)

Exhibit 30: Renewable energy, installed capacity (2019–23)

Exhibit 31: CO2 emissions (2018–22)

Figures

List of Figures

Exhibit 1: Belgium’s performance in terms of its country risk analysis in comparison to the West Europe and World averages

Exhibit 2: Performance overview (Score: 1-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: BEL20 Index (March 2021 – March 2022)

Exhibit 5: Key sectors’ contribution to the economy (2017-24f)

Exhibit 6: FDI flows (Q3 2019-Q3 2021) and FDI by sector (2017-20)

Exhibit 7: Investment by region and country (Q4 2020-Q3 2021)

Exhibit 8: Key infrastructure indicators

Exhibit 9: Real GDP and household consumption growth rate (2017-24f)

Exhibit 10: Real GDP growth rate comparison (2021)

Exhibit 11: Exports and imports, percentage change (2017-24f)

Exhibit 12: Current account balance (2017-24f)

Exhibit 13: Top three commodity exports, % of total exports (2017-20)

Exhibit 14: Vehicles, % of world total (2020)

Exhibit 15: Interest rates (January 2017 – January 2022)

Exhibit 16: Exchange rate and inflation (2017-24f)

Exhibit 17: Public finance (2017-24f)

Exhibit 18: General government debt (2017-24f)

Exhibit 19: Unemployment (2017-24f)

Exhibit 20: Average annual wages (2017-24f)

Exhibit 21: Labor cost index (2017-24f)

Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025)

Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Gender split (1995, 2005, 2015, 2025)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2021e)

Exhibit 26: Number of patents granted per million people (2021e)

Exhibit 27: High-technology exports, % of manufactured exports (2020)

Exhibit 28: Doing Business in Belgium 2020

Exhibit 29: Corruption perceptions index (Rankings) (2021)

Exhibit 30: Renewable energy, installed capacity (2017-20)

Exhibit 31: CO2 emissions (2017-20)

Frequently asked questions

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