Economic Outlook No 107 - June 2020 Double Hit Scenario : Belgium

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Economic Outlook No 107 - June 2020 Double Hit Scenario : Belgium

With COVID-19 extraordinary uncertainty, this Economic Outlook presents two possible scenarios, Please check the other forecast scenario: Single-hit

Country
Frequency			Annual
Time			2012	2013	2014	2015	2016	2017	2018	2019	2020	2021


Variable		Unit
External sectors, trade and payments	Current account balance as a percentage of GDP	Percentage	-0.081	0.955	0.772	1.383	0.551	1.227	-1.386	-1.229	0.340	-1.020
	Exchange rate, national currency per USD	Euro	0.778	0.753	0.754	0.901	0.904	0.887	0.847	0.893	0.919	0.924
	Exchange rate, USD per national currency	US Dollar	1.286	1.328	1.329	1.109	1.106	1.129	1.181	1.119	1.088	1.082
	Exports of goods and services, volume in USD (national accounts basis)	US Dollar, 2015	328 475 016 222.839	329 634 290 214.899	346 764 920 822.921	359 670 025 463.715	383 133 952 933.621	403 380 756 406.423	408 243 051 054.459	412 725 946 941.457	364 299 808 605.294	376 227 077 626.492
	Goods and services trade, volume in USD	US Dollar, 2015	325 611 540 401.779	325 846 121 645.251	343 312 987 762.036	356 416 461 975.387	381 443 057 720.070	399 934 338 832.010	406 505 600 434.710	410 840 682 478.134	358 814 931 021.905	373 418 663 889.321
	Imports of goods and services, volume in USD (national accounts basis)	US Dollar, 2015	322 748 064 580.718	322 057 953 075.602	339 861 054 701.151	353 162 898 487.060	379 752 162 506.520	396 487 921 257.596	404 768 149 814.961	408 955 418 014.812	353 330 053 438.517	370 610 250 152.149
Government accounts	General government gross financial assets as a percentage of GDP	Percentage	28.832	30.028	34.043	33.219	36.035	34.858	34.271	34.695	34.695	34.695
	General government gross financial liabilities as a percentage of GDP	Ratio	120.965	118.630	130.639	126.359	127.688	120.599	118.491	121.638	143.157	147.791
	General government net lending as a percentage of GDP	Percentage	-4.318	-3.129	-3.056	-2.414	-2.364	-0.691	-0.808	-1.908	-11.009	-8.286
	General government primary balance as a percentage of GDP	Percentage	-1.160	-0.191	-0.186	0.158	0.003	1.320	0.994	-0.205	-9.202	-6.667
	Gross public debt, Maastricht criterion as a percentage of GDP	Percentage	104.811	105.486	106.987	105.167	104.903	101.765	99.898	98.748	120.266	124.901
Expenditure and GDP	Change in inventories, contributions to changes in real GDP	Percentage, 2015	-0.590	-0.376	0.038	0.434	0.176	-0.071	0.254	-0.377	0.299	0.146
	Exports of goods and services, volume (national accounts basis)	Euro, 2015	296 096 000 000.000	297 141 000 000.000	312 583 000 000.000	324 216 000 000.000	345 367 000 000.000	363 618 000 000.000	368 001 000 000.000	372 042 000 000.000	328 389 408 026.135	339 140 961 336.676
	Government final consumption expenditure, volume	Euro, 2015	96 823 000 000.000	96 956 000 000.000	98 131 000 000.000	98 403 000 000.000	98 866 000 000.000	98 838 000 000.000	99 873 000 000.000	101 695 000 000.000	101 255 094 519.420	100 933 295 253.493
	Gross capital formation, total, volume	Euro, 2015	91 890 755 742.076	88 411 744 629.479	93 244 395 945.161	98 433 000 000.000	102 798 480 814.925	103 738 245 248.109	108 817 533 189.131	110 432 973 200.984	90 230 893 294.893	96 296 614 969.586
	Gross domestic product, nominal value, market prices	Euro	386 174 000 000.000	392 880 000 000.000	403 003 000 000.000	416 701 000 000.000	430 231 000 000.000	445 956 000 000.000	459 532 000 000.000	473 085 000 000.000	422 064 587 905.237	436 770 133 612.494
	Gross domestic product, volume in USD, at constant purchasing power parities	US Dollar, 2015	500 393 372 358.234	502 691 444 690.342	510 625 920 761.917	521 006 005 909.445	528 707 924 062.754	538 774 181 051.763	546 788 677 052.204	554 468 089 600.520	492 189 930 862.217	509 057 259 058.949
	Gross domestic product, volume in USD, constant exchange rates	US Dollar, 2015	444 003 929 748.536	446 043 031 788.384	453 083 369 952.081	462 293 720 950.351	469 127 708 200.331	478 059 596 406.434	485 170 937 035.067	491 984 954 841.784	436 724 935 935.072	451 691 481 092.160
	Gross domestic product, volume, market prices	Euro, 2015	400 215 000 000.000	402 053 000 000.000	408 399 000 000.000	416 701 000 000.000	422 861 000 000.000	430 912 000 000.000	437 322 000 000.000	443 464 000 000.000	393 653 881 248.854	407 144 383 176.250
	Gross fixed capital formation, total, volume	Euro, 2015	89 582 000 000.000	87 548 000 000.000	92 237 000 000.000	95 688 000 000.000	99 321 000 000.000	100 569 000 000.000	104 595 000 000.000	107 907 000 000.000	85 900 016 544.044	91 374 530 741.015
	Imports of goods and services, volume (national accounts basis)	Euro, 2015	290 894 000 000.000	290 272 000 000.000	306 318 000 000.000	318 307 000 000.000	342 272 000 000.000	357 356 000 000.000	364 819 000 000.000	368 593 000 000.000	318 457 657 363.391	334 032 361 271.672
	Net exports, contributions to changes in real GDP	Percentage, 2015	0.152	0.456	-0.219	-0.121	-0.675	0.749	-0.698	0.051	1.505	-1.172
	Private final consumption expenditure, volume	Euro, 2015	205 998 000 000.000	209 435 000 000.000	210 592 000 000.000	213 929 000 000.000	217 967 000 000.000	221 959 000 000.000	225 215 000 000.000	227 619 000 000.000	191 672 698 341.911	204 051 673 233.443
Selected variables: ready-made growth rates	Exports of goods and services, volume, growth (national accounts basis)	Percentage, 2015	-0.487	0.353	5.197	3.722	6.524	5.285	1.205	1.098	-11.733	3.274
	Government final consumption expenditure, volume, growth	Percentage, 2015	1.185	0.137	1.212	0.277	0.471	-0.028	1.047	1.824	-0.433	-0.318
	Gross domestic product, market prices, deflator, growth	Percentage, 2015	1.961	1.271	0.983	1.339	1.743	1.718	1.534	1.523	0.504	0.055
	Gross domestic product, nominal value, growth	Percentage	2.715	1.737	2.577	3.399	3.247	3.655	3.044	2.949	-10.785	3.484
	Gross domestic product, volume, growth	Percentage, 2015	0.739	0.459	1.578	2.033	1.478	1.904	1.488	1.404	-11.232	3.427
	Gross fixed capital formation, total, volume, growth	Percentage, 2015	0.651	-2.271	5.356	3.741	3.797	1.257	4.003	3.166	-20.394	6.373
	Harmonised core inflation	Percentage, 2015	1.861	1.507	1.458	1.633	1.753	1.477	1.279	1.521	0.927	0.350
	Harmonised headline inflation	Percentage, 2015	2.626	1.248	0.490	0.620	1.770	2.224	2.311	1.249	0.254	0.162
	Imports of goods and services, volume, growth (national accounts basis)	Percentage, 2015	-0.675	-0.214	5.528	3.914	7.529	4.407	2.088	1.034	-13.602	4.891
	Private final consumption expenditure, volume, growth	Percentage, 2015	1.468	1.668	0.552	1.585	1.888	1.831	1.467	1.067	-15.792	6.458
Household sector accounts	Net disposable income of households and non-profit institutions serving households	Euro	214 545 000 000.000	217 310 000 000.000	219 887 000 000.000	223 336 000 000.000	230 441 000 000.000	239 170 000 000.000	246 020 000 000.000	256 258 000 000.000	246 566 422 279.222	244 729 405 947.560
Prices and deflators	Consumer price index, harmonised	Index, 2015	0.977	0.989	0.994	1.000	1.018	1.040	1.064	1.078	1.080	1.082
	Core inflation index, harmonised	Index, 2015	0.955	0.970	0.984	1.000	1.018	1.033	1.046	1.062	1.072	1.075
	Exports of goods and services, deflator (national accounts basis)	Index, 2015	1.049	1.049	1.029	1.000	0.989	1.010	1.032	1.039	1.039	1.047
	Gross domestic product, market prices, deflator	Index, 2015	0.965	0.977	0.987	1.000	1.017	1.035	1.051	1.067	1.072	1.073
	Imports of goods and services, deflator (national accounts basis)	Index, 2015	1.067	1.063	1.039	1.000	0.983	1.011	1.043	1.047	1.035	1.047
	Purchasing power parity, national currency per USD	Euro	0.822	0.806	0.800	0.800	0.781	0.773	0.770	0.768	0.769	0.769
Labour markets	Labour force	Persons	5 033 070.364	5 067 042.926	5 093 053.429	5 133 555.721	5 161 155.754	5 203 537.859	5 210 071.813	5 258 283.513	5 301 397.132	5 307 500.000
	Total employment (labour force survey basis)	Persons	4 652 975.000	4 638 875.000	4 657 600.000	4 698 025.000	4 756 425.000	4 833 200.000	4 899 650.000	4 976 550.000	4 865 523.225	4 814 610.855
	Unemployment rate	Percentage	7.552	8.450	8.550	8.484	7.842	7.117	5.958	5.358	8.222	9.287
Monetary data	Long-term interest rate on government bonds	Percentage	3.000	2.410	1.713	0.840	0.476	0.723	0.795	0.193	-0.030	-0.020
Monetary data	Short-term interest rate	Percentage	0.573	0.221	0.210	-0.019	-0.264	-0.329	-0.322	-0.356	-0.401	-0.399

Data extracted on 22 Sep 2020 11:13 UTC (GMT) from OECD.Stat

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Economic Outlook No 107 - June 2020 Double Hit Scenario : Belgium

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