Belgium's economy maintained a steady expansion in the first quarter of 2024, according to preliminary data released by the National Bank of Belgium on Friday.
The gross domestic product (GDP) experienced a seasonally and calendar-adjusted growth of 0.3 percent during the first quarter, consistent with the growth observed in the past three quarters. This figure aligns with the flash estimates published on April 29.
From an expenditure perspective, household consumption increased by 0.2 percent over the quarter, while final consumption expenditure by the general government rose by 0.7 percent.
Public investment surged by 3.3 percent, driven by favorable developments in several specific transactions related to the international sale of ships. However, exports declined by 0.3 percent, and imports decreased by 0.4 percent.
Year-on-year, GDP growth remained steady at 1.3 percent for the third consecutive quarter, as initially estimated, for the three months ending in March.
