Belgium - Imports of Goods and Services





Belgium: Imports of Goods and Services

Mnemonic IM.IBEL
Unit Mil. EUR, CDASA
Adjustments Calendar Adjusted and Seasonally Adjusted
Quarterly 3.56 %
Data 2021 Q3 108,497
2021 Q2 104,764

Series Information

Source National Bank of Belgium - Belgostat (BNB)
Release Gross domestic product
Frequency Quarterly
Start Date 3/31/1995
End Date 9/30/2021

Belgium: Trade

Reference Last Previous Units Frequency
Balance of Goods Nov 2021 1,197 3,790 Mil. EUR, NSA Monthly
Exports of Goods Nov 2021 41,698 43,460 Mil. EUR, NSA Monthly
Imports of Goods Nov 2021 40,501 39,670 Mil. EUR, NSA Monthly
Current Account Balance Sep 2021 1,596 536 Mil. EUR, NSA Monthly
Exports of Goods and Services 2021 Q3 109,138 107,146 Mil. EUR, CDASA Quarterly
Imports of Goods and Services 2021 Q3 108,497 104,764 Mil. EUR, CDASA Quarterly
Net Exports 2021 Q3 641 2,382 Mil. EUR, CDASA Quarterly
Real Exports of Goods and Services 2021 Q3 96,454 97,571 Mil. Ch. 2015 EUR, CDASA Quarterly
Real Imports of Goods and Services 2021 Q3 95,700 95,873 Mil. Ch. 2015 EUR, CDASA Quarterly

Release Information

For Belgium, the quarterly national accounts, including the detailed expenditure, income, and product (GVA) approaches to gross domestic product (a.k.a. GDP(E), GDP(I), GDP(O)).

Quarterly economic accounts form an integral part of the system of national accounts. The quarterly economic accounts constitute a coherent set of transactions, accounts and balancing items, defined in both the non-financial and financial domains, recorded on a quarterly basis.

Active:

  • Framework: ESA 2010
  • Activity classification: NACEBEL 2008, the localization of NACE Rev. 2
  • Measurements:
    • Millions of euros at current prices (Mil. EUR)
    • At chained year-2015 prices (Mil. Ch. 2015 EUR)
    • Deflators, chained volume indexes relative to 2015 (Ch. Vol. Index 2015=100)
  • Adjustments:
    • Working day adjusted and seasonally adjusted (WDASA)
    • Calendar day adjusted and seasonally adjusted (CDASA)
    • Not seasonally adjusted (NSA)
  • Native frequencies:
    • Quarterly
    • Annual
  • Start date: Uniformly 1995Q1

Predecessors:

  • 2016 prices - 1995 to 2019
  • 2015 prices - 1995 to 2018
  • ESA 95 and 2011 prices - 1995 to 2014
  • 2011 prices - 1980 to 2011
  • 2010 prices - 1980 to 2012
  • 2009 prices - 1995 to 2011
  • ESA 79 and 95, 2008 prices - 1980 to 2011
  • 2007 prices - 1995 to 2010
  • 2006 prices - 1995 to 2009
  • 2004 prices - 1980 to 2007
  • 2000 prices - 1995 to 2006
  • 1995 prices - 1980 to 2003

There are three ways, usually called approaches, of calculating GDP:

  • Output approach
  • Expenditure approach
  • Income approach.

Each approach is based on a different view of the economic system using and measuring different aggregates. Together they give a summary of the logical relationships within the system of national accounts, and they should all give the same result for GDP if each item is estimated correctly.

The output approach is based on the calculation of output and intermediate consumption of the various industries of the economy. Gross value added of an industry is defined as the difference between output (basic prices) and intermediate consumption (basic prices).

Gross value added (basic prices) = Output (basic prices) - Intermediate consumption

GDP at market prices is then calculated as the sum of gross value added (basic prices) of all industries/branches plus taxes on products less subsidies on products.

Gross value added (market prices) = Gross value added (basic prices) + Taxes on products - Subsidies on products

The expenditure approach is based on estimates of the components of final demand:

GDP = Final consumption expenditure (by households, non-profit institutions serving households -NPISHs- and the government, in purchasers. prices) + Final consumption expenditure by the government + Gross fixed capital formation (purchasers. prices) + Changes in inventories (purchasers. prices) + Exports (f.o.b.) - Imports (c.i.f.)

The income approach calculates GDP from separate estimates of the components of the value added of industries, branches or sectors:

GDP = Compensation of employees + Gross operating surplus/mixed income + Taxes on production and imports - Subsidies.

Until 2019, Statistics Belgium annually re-referenced its chained year series. The currency reference year is  two years prior (t-2) and is denoted in the unit-descriptor metadata.

Starting 2019, its plan is to re-reference every five years (2015, 2020, ...), to synchronize with Eurostat.

Definitional breaks

The 2008-base series have a framework break (ESA 79 to ESA 95) from 1995.

Further reading

At IMF (SDDS):