IMD World Competitiveness Booklet 2022

Belgium Competitiveness Trends – Overall

OVERALL PERFORMANCE (63 countries)

BASIC FACTS

Rank

2018

2019

2020

2021

2022

Capital Land area (square km '000)

Brussels

31 2021

0.845 2021

Exchange Rate (per $)

21

11.52 2021 32 599.0 2021 23 57,257 2021 17 6.1 2021 23 3.22 2021 36 6.30 2021 37 5.53 2021 34 -0.41 2021 33 635.9 2020 14 -3.37 2020 59

24

25

Population - market size (millions)

26

27

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2022

GDP (PPP) per capita (US$)

• Absorbing the impact of the inflation shock due to the increase in energy and input prices and avoiding a price- wage spiral. • Efforts to reduce the tax wedge must be continued. • Promote continuous training throughout the career. • Better guidance towards STEM and technical jobs. • Closing the infrastructure investment gap.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: FEB - Federation of Enterprises in Belgium, Brussels

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

7

8

10 10

15

16

17 17

18

21 22

23

23

26

33

37 34

39

47

62

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries)

POPULATIONS < 20 MILLION (36 countries)

2018

2019

2020

2021

2022

2018

2019

2020

2021

2022

15

16

16

14

15

17

17

16

16

17

56 Competitiveness Country Profiles