The economy in Flanders would grow at 2.8 percent faster than that in Brussels (+2.1 percent) and Wallonia (+2.5 percent), according to the forecast of Flanders Statistics. The Flemish figure is at the level of the European average (+2.7 percent).
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Economic growth is strongest in the sectors of transport and communication, health and social services, business services and the production of equipment goods, Statistics Flanders says on its website. Private consumption is still benefiting from the upturn that started in 2021. But further recovery is hampered by the war in Ukraine and inflation.
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In 2021, the Flemish economy still grew by 7 percent, after the sharp slump the year before with the corona pandemic (-5.5 percent). In the years 2014-2019, growth hovered around 2 percent or just above. In recent years, growth has been mainly influenced by the real increase in labor productivity; until 2019, the evolution of employment played a greater role.
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