Belgium

Name: Belgium — economic data and equity holdings
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

BEL · Europe & Central Asia · High income

This page brings together what Belgium means for an ETF portfolio: the economic picture from World Bank data, the 75 Belgium stocks we track, and the ETFs that actually give you exposure — with the country weight computed from real fund holdings, not estimated.

Economic Indicators

Gross domestic product (2025)$725B

GDP per capita (2025)$60,750

Real GDP growth (2025)1.0%

Inflation rate (2025)2.5%

Unemployment rate (2025)5.9%

Population (2025)11.9 m

Economic indicators over time
Year	GDP per capita (USD)	Real GDP growth (%)	Inflation rate (%)	Unemployment rate (%)
2018	47,487	1.9	2.1	5.9
2019	46,717	2.4	1.4	5.4
2020	45,906	-4.8	0.7	5.5
2021	51,658	6.3	2.4	6.2
2022	50,639	4.0	9.6	5.6
2023	55,245	1.6	4.0	5.5
2024	56,582	1.1	3.1	5.7
2025	60,750	1.0	2.5	5.9

Data note 1

ETFs With the Highest Belgium Weight

Sum of the fund's individual holdings from this country — added up from published holdings, not estimated.

ETFs by country weight
ETF	Index	Weight	Holdings
State Street® SPDR® MSCI EMU UCITS ETF ZPRE · IE00B910VR50	MSCI EMU	3.4%	12
Xtrackers MSCI Europe Small Cap UCITS ETF 1c XXSC · LU0322253906	MSCI Europe Small Cap	3.3%	25
Xtrackers MSCI Europe Small Cap UCITS ETF 1d XMES · LU3456232308	MSCI Europe Small Cap	3.3%	25
State Street® SPDR® MSCI Europe Small Cap UCITS ETF SMC · IE00BKWQ0M75	MSCI Europe Small Cap	3.2%	26
Xtrackers MSCI EMU UCITS ETF 1d XD5E · LU0846194776	MSCI EMU	2.6%	11
Xtrackers MSCI EMU UCITS ETF 4c XEMU · LU1920015366	MSCI EMU	2.6%	11
iShares STOXX Europe 600 UCITS ETF (DE) EXSA · DE0002635307	STOXX Europe 600	1.9%	17
State Street® SPDR® MSCI Europe UCITS ETF SPYE · IE00BKWQ0Q14	MSCI Europe	1.8%	12

Data note 2

Largest Tracked Stocks

75 stocks from Belgium are covered through our ETF holdings — these carry the highest single weight.

ANHEUSER-BUSCH INBEV SA1.65%
Anheuser-Busch InBev SA/NV1.48%
Warehouses De Pauw SA0.91%
argenx SE0.77%
UCB S.A.0.52%
UCB SA0.52%
Aedifica SA0.43%
AEDIFICA NV0.42%
ARGENXARGX · 0.41%
ACKERMANS & VAN HAAREN NV0.41%
KBC Group N.V.0.41%
KBC GROEP NV0.41%
Ackermans & van Haaren NV0.40%
UMICORE SA0.35%
Umicore SA0.31%
ELIA GROUP SA0.28%
Elia Group SA/NV0.28%
WAREHOUSES DE PAUW NV0.27%
KBC ANCORA NV0.27%
KBC Ancora SCA0.27%

All Tracked Stocks

17 names, ETF coverage on average in the 85.4th percentile of all stocks we cover. Sorted by ETF reach.

Tracked stocks
Stock	Ticker	ETFs
Anheuser-Busch InBev SA/NV	ABI	29
argenx SE	ARGX	29
Elia Group SA/NV	ELI	28
Syensqo SA/NV	SYENS	28
ageas SA/NV	AGS	28
Groupe Bruxelles Lambert NV	GBLB	27
KBC Group N.V.	KBC	27
Sofina SA	SOF	27
Financiere de Tubize S.A.	TUB	26
UCB S.A.	UCB	26
Lotus Bakeries NV	LOTB	24
Warehouses de Pauw NV	WDP	16
Ackermans & van Haaren NV	ACKB	15
Aedifica NV	AED	15
Umicore SA	UMI	15
KBC Ancora SCA	KBCA	12
Dieteren (D) SA	DIE	4