Belgium | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Kingdom of Belgium
Records
63
Source
Belgium | GDP (current US$)
1960 11658722590.99
1961 12400145221.595
1962 13264015675.319
1963 14260017387.049
1964 15960106680.673
1965 17371457607.937
1966 18651883472.481
1967 19992040788.459
1968 21376353113.475
1969 23710735894.702
1970 26706196046.793
1971 29821661869.912
1972 37209418018.513
1973 47743801490.375
1974 56033077879.039
1975 65678189097.291
1976 71113882967.607
1977 82839905458.638
1978 101246526194.44
1979 116315456796.92
1980 126829314388.19
1981 104730018470.23
1982 92095926187.533
1983 87184239053.254
1984 83349530159.173
1985 86268264148.38
1986 120018787249.41
1987 149394404105.89
1988 162299103675.26
1989 164221056511.06
1990 205331747947.85
1991 210510999409.33
1992 234781652446.67
1993 224721795708.95
1994 244884129491.2
1995 288025588396.28
1996 279201433224.76
1997 252708051420.84
1998 258528339631.03
1999 258245733221.47
2000 236792460312.47
2001 236746141604.37
2002 258383599375.18
2003 318082528506.59
2004 369214712443.21
2005 385714762230.04
2006 408259840868.82
2007 470922156309.45
2008 517328087920.08
2009 483254171097.81
2010 481420882905
2011 523330354138.13
2012 496152879924.73
2013 521791015247.06
2014 535390200131.02
2015 462335574841.48
2016 476062757356.93
2017 502764720556.35
2018 543299066998.9
2019 535865804349.8
2020 526264230147.39
2021 600748812601.54
2022 583435595579.96

Belgium | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Kingdom of Belgium
Records
63
Source