Country report Belgium 2018

Country report

  • Belgium
  • Agriculture,
  • Automotive/Transport,
  • Chemicals/Pharma,
  • Construction,
  • Consumer Durables,
  • Electronics/ICT,
  • Financial Services,
  • Food,
  • Machines/Engineering,
  • Metals,
  • Paper,
  • Services,
  • Steel,
  • Textiles

15th May 2018

In 2018 the number of Belgian business insolvencies will still be higher than the levels seen before the start of the global credit crisis in 2008.

Belgium trade
Belgium key figures
Belgium industries

The insolvency environment

High level of corporate insolvencies despite forecast decrease in 2018

Belgian corporate insolvencies are expected to decrease by 2% year-on-year in 2018 after an increase of 8.7% in 2017. With about 9,750 cases forecast this year, the number of insolvencies will still be higher than the levels seen before the start of the global credit crisis in 2008 (about 7,700 cases in 2007).

Belgium insolvencies

 

Economic situation

Domestic demand drives growth

The Belgian economy grew 1.7% in 2017, as domestic demand was supported by increased business investment and higher household consumption, fuelled by increasing employment and wage growth.

Inflation has increased to more than 2% in 2017, partly due to higher indirect taxes.

In 2018 GDP is expected to increase again by 1.7%, still driven by domestic demand. Export growth is expected to slow down somewhat; competitive gains subside due to higher wages.

Despite annual decreases, public debt remains high at more than 100% of GDP, one of the highest in the European Union in terms of the government debt-to-GDP ratio. Further fiscal consolidation seems to be necessary in the medium term.

 

Disclaimer

Each publication available on or from our websites, such as, but not limited to webpages, reports, articles, publications, tips and helpful content, trading briefs, infographics, videos (each a “Publication”) is provided for information purposes only and is not intended as a recommendation or advice as to particular transactions, investments or strategies in any way to any reader. Readers must make their own independent decisions, commercial or otherwise, regarding the information provided. While we have made every attempt to ensure that the information contained in any Publication has been obtained from reliable sources, Atradius is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in any Publication is provided ’as is’, with no guarantee of completeness, accuracy, timeliness or of the results obtained from its use, and without warranty of any kind, express or implied. In no event will Atradius, its related partnerships or corporations, or the partners, agents or employees thereof, be liable to you or anyone else for any decision made or action taken in reliance on the information in any Publication, or for any loss of opportunity, loss of profit, loss of production, loss of business or indirect losses, special or similar damages of any kind, even if advised of the possibility of such losses or damages.