Belgium recorded a Government Debt to GDP of 104.70 percent of the country's Gross Domestic Product in 2024. This dataset provides - Belgium Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Belgium Government Debt: % of GDP

• Belgium Government debt accounted for 105.6 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 106.6 % in the previous quarter.
• Belgium government debt to GDP ratio data is updated quarterly, available from Dec 1980 to Sep 2024.
• The data reached an all-time high of 138.7 % in Sep 1993 and a record low of 76.1 % in Dec 1980.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The National Bank of Belgium provides Government Debt in EUR and Nominal GDP in EUR, based on ESA 2010. Government Debt as % of Nominal GDP prior to Q4 1998 is based on ESA 1995.


Related information about Belgium Government Debt: % of GDP

• In the latest reports, Belgium National Government Debt reached 688.5 USD bn in Mar 2024.
• The country's Nominal GDP reached 153.8 USD bn in Mar 2023.

The ratio of national debt to gross domestic product (GDP) of Belgium was estimated at about 104.47 percent in 2024. Between 1980 and 2024, the ratio rose by approximately 27.67 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio will steadily rise by around 21.17 percentage points over the period from 2024 to 2030, reflecting a clear upward trend.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Graph and download economic data for Central government debt, total (% of GDP) for Belgium (DEBTTLBEA188A) from 1995 to 2022 about Belgium, debt, government, and GDP.

Il debito privato sul PIL in Belgio è diminuito al 160,50 percento nel 2024 rispetto al 165,40 percento nel 2023. Valori correnti, dati storici, previsioni, statistiche, grafici e calendario economico - Belgio - Debito privato e PIL.

Belgium debt to gdp ratio for 2022 was 92.48%, a 15.96% decline from 2021.

<ul style='margin-top:20px;'>

<li>Belgium debt to gdp ratio for 2021 was <strong>108.45%</strong>, a <strong>10% decline</strong> from 2020.</li>
<li>Belgium debt to gdp ratio for 2020 was <strong>118.44%</strong>, a <strong>15.24% increase</strong> from 2019.</li>
<li>Belgium debt to gdp ratio for 2019 was <strong>103.20%</strong>, a <strong>1.69% increase</strong> from 2018.</li>
</ul>Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

Households Debt in Belgium decreased to 57.40 percent of GDP in the fourth quarter of 2024 from 57.50 percent of GDP in the third quarter of 2024. This dataset provides - Belgium Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Belgium Household Debt: % of GDP

• Belgium household debt accounted for 59.0 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 59.4 % in the previous quarter.
• Belgium household debt to GDP ratio is updated quarterly, available from Dec 1992 to Sep 2024.
• The data reached an all-time high of 67.6 % in Mar 2021 and a record low of 39.3 % in Sep 1995.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The National Bank of Belgium provides Household Debt in EUR and Nominal GDP in EUR, based on ESA 2010. Household Debt includes NPISH. Household Debt as % of Nominal GDP prior to Q4 1998 is based on ESA 1995.


Related information about Belgium Household Debt: % of GDP

• In the latest reports, Belgium Household Debt reached 365.5 USD bn in Dec 2022.
• Money Supply M2 in Belgium increased 5.9 % YoY in Jan 2025.
• Belgium Foreign Exchange Reserves was measured at 5.2 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Nov 2024.
• Belgium Domestic Credit reached 799.3 USD bn in Nov 2024, representing an increased of 0.7 % YoY.
• The country's Non Performing Loans Ratio stood at 0.6 % in Mar 2024, compared with the ratio of 0.6 % in the previous quarter.

Key information about Belgium External Debt: % of GDP

• Belgium External Debt accounted for 231.5 % of the country's Nominal GDP in 2023, compared with the ratio of 237.3 % in the previous year.
• Belgium External Debt: % of Nominal GDP data is updated yearly, available from Dec 2007 to Dec 2023.
• The data reached an all-time high of 331.8 % in Dec 2008 and a record low of 231.5 % in Dec 2023.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and annual Nominal GDP. The National Bank of Belgium provides External Debt in EUR based on BPM6 and Nominal GDP in EUR. External Debt prior to 2008 is based on BPM5.


Related information about Belgium External Debt: % of GDP

• In the latest reports of Belgium, Current Account recorded a deficit of 192.8 USD mn in Mar 2023.
• Foreign Direct Investment (FDI) increased by 3.2 USD bn in Mar 2023.
• Belgium Direct Investment Abroad expanded by 1.4 USD bn in Jun 2024.
• Its Foreign Portfolio Investment increased by 11.3 USD bn in Jun 2024.
• The country's External Debt reached 1,567,110.3 in Jun 2024.
• The country's Nominal GDP was reported at 153.8 USD bn in Mar 2023.

Key information about Belgium National Government Debt

• Belgium National Government Debt reached 688.5 USD bn in Mar 2024, compared with 680.2 USD bn in the previous quarter.
• Belgium National Government Debt data is updated quarterly, available from Mar 1980 to Mar 2024.
• The data reached an all-time high of 688.5 USD bn in Mar 2024 and a record low of 76.8 USD bn in Mar 1980.

CEIC converts quarterly Government Debt into USD. The National Bank of Belgium provides Government Debt in EUR based on ESA 2010. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt prior to Q4 1998 is based on ESA 1995.


Related information about Belgium National Government Debt

• In the latest reports, Belgium Consolidated Fiscal Balance recorded a deficit equal to 4.5 % of its Nominal GDP in Dec 2023.
• The country's Government debt accounted for 105.2 % of its Nominal GDP in Dec 2023.
• Belgium Nominal GDP reached 153.8 USD bn in Mar 2023.

External Debt to GDP in Belgium decreased to 243 percent of GDP in the fourth quarter of 2024 from 247 percent of GDP in the third quarter of 2024. This dataset includes a chart with historical data for Belgium External Debt To GDP.

Central government debt, total (% of GDP) in Belgium was reported at 92.46 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Belgium - Central government debt, total (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Graph and download economic data for Outstanding International Public Debt Securities to GDP for Belgium (DDDM06BEA156NWDB) from 1980 to 2020 about Belgium, public, debt, securities, and GDP.

In the third quarter of 2024, Greece's national debt was the highest in all the European Union, amounting to 158 percent of Greece's gross domestic product. In spite of Greece's total being high by EU standards, it marks a substantial decrease from the historical high point reached by the country's national debt of 207 percent of GDP in 2020. Italy, France, Spain, Belgium, and Portugal also all have government debt worth over one year's production of their economies, while the small Baltic country of Estonia has the smallest national debt when compared with GDP, at only 24 percent. In debitum incrementum?A country’s national debt, also known as government debt or public debt, is defined as all borrowings owed by the government of a country. It usually comprises internal debt – owed to other governmental departments – and external debt, which is held by the public and is owed to government bond owners. National debt can be caused by a struggling economy in general, or by low tax income, which usually leads to money being borrowed from other governments for support, which in turn cannot be paid back right away. At first glance, a high national debt is not always a sign of a struggling economy – but since increasing debt can slow down economic growth significantly, it is imperative for the respective government to seek a steady reduction in the long run.

This statistic shows the government debt as share of GDP in Belgium in 2020 and 2021, with a forecast for 2022 to 2027. As of 2021, the gross debt in Belgium was 108.2 percent the size of its GDP.

Belgium: Government debt as percent of GDP: The latest value from 2023 is 105.2 percent, an increase from 104.3 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Belgium from 1995 to 2023 is 105.82 percent. The minimum value, 87.3 percent, was reached in 2007 while the maximum of 131.3 percent was recorded in 1995.

BE: Gross Public Debt: % of GDP: General Government: Debt Securities: Market Value data was reported at 84.062 % in Dec 2024. This records a decrease from the previous number of 85.348 % for Sep 2024. BE: Gross Public Debt: % of GDP: General Government: Debt Securities: Market Value data is updated quarterly, averaging 100.187 % from Dec 1995 (Median) to Dec 2024, with 117 observations. The data reached an all-time high of 124.101 % in Sep 1996 and a record low of 76.645 % in Dec 2007. BE: Gross Public Debt: % of GDP: General Government: Debt Securities: Market Value data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Belgium – Table BE.World Bank.QPSD: Gross Public Debt: % of GDP: General Government.

Belgium BE: Gross Public Debt: % of GDP: Central Government: Debt Securities, Loans, SDRs, Currency and Deposits data was reported at 85.432 % in Dec 2024. This records a decrease from the previous number of 86.389 % for Sep 2024. Belgium BE: Gross Public Debt: % of GDP: Central Government: Debt Securities, Loans, SDRs, Currency and Deposits data is updated quarterly, averaging 90.239 % from Dec 1995 (Median) to Dec 2024, with 117 observations. The data reached an all-time high of 119.308 % in Jun 1996 and a record low of 77.204 % in Dec 2007. Belgium BE: Gross Public Debt: % of GDP: Central Government: Debt Securities, Loans, SDRs, Currency and Deposits data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Belgium – Table BE.World Bank.QPSD: Gross Public Debt: % of GDP: Central Government.

Belgium BE: Gross Public Debt: % of GDP: General Government: Debt Securities data was reported at 89.950 % in Dec 2024. This records a decrease from the previous number of 90.596 % for Sep 2024. Belgium BE: Gross Public Debt: % of GDP: General Government: Debt Securities data is updated quarterly, averaging 88.206 % from Dec 1995 (Median) to Dec 2024, with 117 observations. The data reached an all-time high of 113.625 % in Sep 1996 and a record low of 73.750 % in Dec 2007. Belgium BE: Gross Public Debt: % of GDP: General Government: Debt Securities data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Belgium – Table BE.World Bank.QPSD: Gross Public Debt: % of GDP: General Government.

Several European Union member states have struggled with high levels of public debt in the period since the Global Financial Crisis. In particular, Greece's debt skyrocketed during the recession which followed the crisis, culminating in a period of intense political and social upheaval during the early 2010s in which the country came close to having to leave the Euro single currency zone. Along with Italy, Portugal, Spain and France, Greece is part of a group of EU members who have seen their debt soar to a value worth over one year's aggregate production in their economies (i.e. 100% of GDP) due to slow economic growth coupled with increasing public liabilities due to the need to provide emergency support to their domestic financial systems. Belgium, while also a part of this group of high-debt ratio countries has quite different circumstances, as its debt ratio has in fact fallen since the 1990s, remaining 20 percent below its 1995 level, even after a spike due to the COVID-19 pandemic.