According to the International Monetary Fund (IMF), real GDP of Belgium is forecast to grow by 3.1 percent in 2022 and 1.8 percent in 2023.
1) Real GDP growth rate: 2010 – 2.9 percent, 2011 – 1.7 percent, 2012 – 0.7 percent, 2013 – 0.5 percent, 2014 – 1.6 percent, 2015 – 2.0 percent, 2016 – 1.3 percent, 2017 – 1.6 percent, 2018 – 1.8 percent, 2019 – 1.8 percent, 2020 – -6.3 percent and 2021 – 5.6 percent.
Gross domestic product is the market value of all goods and services made in a country in a year. Annual percentages of constant price GDP are year-on-year changes. Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services.
2) Projected real GDP growth rate: 2022 – 3.1 percent, 2023 – 1.8 percent, 2024 – 1.4 percent, 2025 – 1.3 percent and 2026 – 1.3 percent.
3) Nominal GDP in current prices, billions of Euro (code: EUR; sign: €): 2010 – €363.140 billion, 2011 – €375.968 billion, 2012 – €386.175 billion, 2013 – €392.880 billion, 2014 – €403.004 billion, 2015 – €416.702 billion, 2016 – €430.085 billion, 2017 – €445.050 billion, 2018 – €460.370 billion, 2019 – €476.343 billion, 2020 – €451.177 billion and 2021 – €487.169 billion.
4) Projected nominal GDP in current prices, billions of Euro: 2022 – €512.730 billion, 2023 – €531.224 billion, 2024 – €548.342 billion, 2025 – €565.303 billion and 2026 – €583.035 billion.
5) Nominal GDP in current prices, billions of U.S. dollars: 2010 – $481.814 billion, 2011 – $523.239 billion, 2012 – $496.467 billion, 2013 – $521.799 billion, 2014 – $535.529 billion, 2015 – $462.383 billion, 2016 – $475.931 billion, 2017 – $502.587 billion, 2018 – $543.923 billion, 2019 – $533.313 billion, 2020 – $514.920 billion and 2021 – $581.848 billion.
Values are based upon GDP in national currency converted to U.S. dollars using market exchange rates (yearly average).
6) Projected nominal GDP in current prices, billions of U.S. dollars: 2022 – $619.160 billion, 2023 – $650.836 billion, 2024 – $680.048 billion, 2025 – $708.703 billion and 2026 – $736.648 billion.
7) GDP PPP (Purchasing power parity) in current prices, billions of international dollars: 2010 – $435.357 billion, 2011 – $451.933 billion, 2012 – $469.721 billion, 2013 – $487.344 billion, 2014 – $503.621 billion, 2015 – $521.018 billion, 2016 – $550.622 billion, 2017 – $575.834 billion, 2018 – $600.130 billion, 2019 – $621.768 billion, 2020 – $589.718 billion and 2021 – $645.401 billion.
GDP PPP = gross domestic product based on purchasing power parity, international dollars. Average consumer price level in the US = 100%.
GDP PPP takes into account differences in the cost of living in different countries. Purchasing power parity means how much money would be needed to buy the same item basket in two different countries. Using a PPP basis is arguably more useful when comparing generalized differences in living standards between nations because PPP takes into account the relative cost of living and the inflation rates of the countries, rather than using only exchange rates, which may distort the real differences in income.
8) Projected GDP PPP in current prices, billions of international dollars: 2022 – $683.771 billion, 2023 – $712.467 billion, 2024 – $738.707 billion, 2025 – $764.544 billion and 2026 – $790.897 billion.
9) Nominal GDP per capita in current prices, U.S. dollars: 2010 – $44,448.2, 2011 – $47,564.4, 2012 – $44,824.2, 2013 – $46,848.6, 2014 – $47,897.0, 2015 – $41,147.3, 2016 – $42,076.4, 2017 – $44,274.1, 2018 – $47,718.4, 2019 – $46,555.1, 2020 – $44,688.5 and 2021 – $50,412.7.
GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.
10) Projected nominal GDP per capita in current prices, U.S. dollars: 2022 – $53,452.5, 2023 – $55,938.8, 2024 – $58,206.3, 2025 – $60,422.1 and 2026 – $62,570.4.
11) GDP PPP per capita in current prices, international dollars: 2010 – $40,162.4, 2011 – $41,082.4, 2012 – $42,409.3, 2013 – $43,755.2, 2014 – $45,043.2, 2015 – $46,365.2, 2016 – $48,679.7, 2017 – $50,726.6, 2018 – $52,649.5, 2019 – $54,276.7, 2020 – $51,180.0 and 2021 – $55,919.1.
Expressed in GDP in PPP dollars per person. Data are derived by dividing GDP in PPP dollars by total population.
12) Projected GDP PPP per capita in current prices, international dollars: 2022 – $59,030.4, 2023 – $61,235.9, 2024 – $63,227.0, 2025 – $65,182.9 and 2026 – $67,178.3.
13) GDP based on purchasing-power-parity (PPP) share of world total, percent: 2010 – 0.5 percent, 2011 – 0.5 percent, 2012 – 0.5 percent, 2013 – 0.5 percent, 2014 – 0.5 percent, 2015 – 0.5 percent, 2016 – 0.5 percent, 2017 – 0.5 percent, 2018 – 0.5 percent, 2019 – 0.5 percent, 2020 – 0.4 percent and 2021 – 0.4 percent.
Expressed in percent of world GDP in PPP dollars.
14) Projected GDP based on purchasing-power-parity (PPP) share of world total, percent: 2022 – 0.4 percent, 2023 – 0.4 percent, 2024 – 0.4 percent, 2025 – 0.4 percent and 2026 – 0.4 percent.
15) Deflator of Gross domestic product (index to the previous year), percent: 2010 – 101.9 percent, 2011 – 101.8 percent, 2012 – 102.0 percent, 2013 – 101.3 percent, 2014 – 101.0 percent, 2015 – 101.3 percent, 2016 – 101.9 percent, 2017 – 101.8 percent, 2018 – 101.6 percent, 2019 – 101.7 percent, 2020 – 101.1 percent and 2021 – 102.2 percent.
The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation.
16) Projected deflator of Gross domestic product (index to the previous year), percent: 2022 – 102.1 percent, 2023 – 101.8 percent, 2024 – 101.8 percent, 2025 – 101.8 percent and 2026 – 101.8 percent.
17) Output gap in percent of potential GDP, percent of potential GDP: 2010 – -0.7 percent, 2011 – -0.3 percent, 2012 – -0.9 percent, 2013 – -1.8 percent, 2014 – -1.7 percent, 2015 – -1.2 percent, 2016 – -1.3 percent, 2017 – -1.1 percent, 2018 – -0.5 percent, 2019 – 0.1 percent, 2020 – -3.5 percent and 2021 – -1.6 percent.
The output gap is actual minus potential output, as a percentage of potential output. Estimates of the output gap are subject to significant margins of uncertainty.
18) Projected output gap in percent of potential GDP, percent of potential GDP: 2022 – -0.3 percent.
19) Ratio of the average price level in Belgium to the average price level in the United States, percent: 2010 – 110.7 percent, 2011 – 115.8 percent, 2012 – 105.7 percent, 2013 – 107.1 percent, 2014 – 106.3 percent, 2015 – 88.7 percent, 2016 – 86.4 percent, 2017 – 87.3 percent, 2018 – 90.6 percent, 2019 – 85.8 percent, 2020 – 87.3 percent and 2021 – 90.2 percent.
20) Projected ratio of the average price level in Belgium to the average price level in the United States, percent: 2022 – 90.6 percent, 2023 – 91.3 percent, 2024 – 92.1 percent, 2025 – 92.7 percent and 2026 – 93.1 percent.
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Tags: English, GDP, GDP PPP, projected GDP, IMF
Source: BusinessForecast.by